Nigeria’s Minister of Power, Adebayo Adelabu has disclosed that the Sun Africa LLC, an international organisation, has set aside $2.2billion to support the President Bola Tinubu Administration in providing vital power infrastructure in Nigeria.

The Minister revealed this after a meeting with representatives of Sun Africa, led by its Chairman, Mr. Goran Rajsic.

According to him, the initial phase of the project would focus on delivering over 961MWp of solar PV infrastructure and 455 MWh of battery energy storage, valued at approximately US$2.2 billion.

“Sun Africa, with its partners, is set to implement this transformative project in the coming months,”  he said.

He further said that: “As Africa’s largest economy, Nigeria faces significant demands for new power infrastructure to support economic needs and transition to a sustainable power mix”.

He stressed that the commitment from all parties involved would ensure a close collaboration to execute the vital renewable power infrastructure project to address the nation’s challenges in the Power sector.

Earlier, Mr. Rajsic expressed excitement, thanking partners for their support in designing this cutting-edge project, featuring leading solar PV and battery storage technologies, financed with affordable, long-term debt under OECD guidelines.

He explained that the Sun Africa’s financing partners, ING Bank and Citi, have also demonstrated their commitment to the project, by arranging up to US$10 billion in financing the coming years.

This support, Mr. Rajsic said, will extend to both the initial phase and future developments in Nigeria, stressing that Sun Africa is collaborating with Sterling & Wilson Renewable Energy Limited, its EPC partner, by playing a pivotal role in providing EPC services for the initial project phase.

The Joint efforts signify a remarkable milestone in advancing sustainable and reliable energy solutions for Nigerians, aligning with the commitment to drive positive change through innovative renewable energy solutions.