In a major boost to the state’s drive to expand electricity supply, attract clean-energy investments and provide more reliable power for homes and businesses, Enugu State Government has secured a $200 million investment for a 100mw solar power programme.
The investment, estimated at about N300 billion, was disclosed during a meeting between Governor Peter Mbah and a delegation from Eauxwell Nigeria Limited led by the Managing Director, Mr Edwin Enwegbara, at the Government House, Enugu.
|
|
The investment engagement, brokered through the state’s Climate and Development Investment Platform (CDIP) coordinated by the Special Adviser to the Governor on Climate and Sustainable Development, Professor Chukwumerije Okereke, is the first major investment breakthrough facilitated by the platform established by the Mbah Administration to connect investors with government institutions, regulatory agencies and communities.
The governor, while welcoming the investment, stressed that the state government’s interest went beyond attracting capital.
|
|
|
|---|
He insisted that the ultimate objective was to deliver reliable and affordable electricity to residents and businesses in the state at affordable cost.
“We want an electricity market that encourages competition and gives consumers the benefit of competitive pricing,” he said.
Mbah said the tariff assumptions and financial model presented by the investors needed to be reviewed, emphasising the need to balance legitimate cost recovery by investors with electricity prices that households and businesses can afford.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
“Cost recovery is important, but we must also ensure that the tariff is affordable to our people and businesses,” Mbah said.
He also called for a shorter implementation timeframe, pledging the state government’s support in removing bureaucratic and institutional bottlenecks that could delay delivery.
Speaking, Mr Enwegbara acknowledged the need to strike that balance and said the final tariff would be determined in collaboration with the relevant electricity regulators.
He said that the proposed 100MW programme would deploy distributed solar generation, supported by battery storage, providing more dependable electricity for communities and businesses while also supporting productive activities, including agricultural processing, small businesses and other enterprises whose operations depend on reliable power.
Governor Mbah’s intervention comes against the backdrop of Enugu’s ongoing electricity-sector reforms and the state’s assumption of regulatory oversight of its intrastate electricity market.
The administration seeks to create a competitive electricity market capable of attracting further private investment.
Olufemi Akinyelure, Head of the Nigeria Electrification Programme at the Rural Electrification Agency, who joined the meeting virtually, explained the structure, objectives and implementation processes of the DARES programme.
The meeting had in attendance the Secretary to the State Government, Prof. Chidiebere Onyia, who also chairs the CDIP Steering Committee; the State Attorney General and Commissioner for Justice, Osinachi Nnajieze; the Commissioners for Environment and Climate Change, Prof Sam Ugwu; Trade and Investment, Dr Sam Ogbu-Nwobodo; and Lands, Chimaobi Okorie; as well as the Special Advisers to the Governor on Project Delivery and Power, Ozurumba Afigbo and Joe Aneke, respectively, and the Chairman of the Enugu State Electricity Regulatory Commission (EERC), Mr Chijioke Okonkwo.
Also on the Eauxwell team were the Director of Business Development, Mr Kingsley Okenyi; the Head of Project Management, Mr Lazarus Agu; and Project Engineer, Victoria John.
The meeting also addressed the separate Aninri electrification project.
Following the discussion, Mbah requested an urgent meeting with the President-General of the community and its traditional ruler to resolve the land-related issues and facilitate commencement of the project.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
