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WEFA is Yelding Positive result as Canada sing MOU to invest $5b in Delta solar energy

• Targets 3,000Megawatts Delta State has taken the lead in the generation of renewable energy as Canada has pledged to invest $5billion to produce 3,000 megawatts (Mw) of electricity. The initiative of the state government to key into the green economy programme of the global community paid off as the Federal Government signed the Foreign Investments Protection Agreement (FIPA) with Canada to remove bottlenecks to make smooth the take-off of Canadian investments in Nigeria. Similarly, Delta State government signed a memorandum of understanding (MoU) with a Canadian investor, Skypower Energy to build and generate solar-powered electricity in the state. The Minister of Industry, Trade and Foreign Investments, Mr. Olusegun Aganga, said the Canadian investor was investing $5 billion in renewable energy in the country. According to him, the firm will produce 3,000 Mw of solar-based electricity for the national grid with the facility being deployed first in Delta State having taken the initiative for the renewable energy plant. “Skypower will deploy first in Delta State which has taken the lead because of the enormous work the state has put in to ensure the realisation of the renewable energy programme,” Aganga said. He said the Federal Government will facilitate the provision of licence to generate the solar-based electricity for the national grid with about 1,000 megawatts being generated form plants in Delta State. The Canadian Minister of International Investments, Mr. Christian Paradis, said with the deal between Nigeria and Canada, more investors would be encouraged to invest in Nigeria. Delta State Governor, Dr. Emmanuel Uduaghan, expressed delight with the agreement and the keen interest shown by the Federal Government, noting that it was an endorsement of the initiative of the state government. “This is very historic and emotional for me. For us in Delta State, we have keyed into the green economy programme of the global community. The green economy is not just in enhancing the environment but also meant to empower the people,” he said. The governor assured that Deltans would benefit from the 1,000 Mw that would be generated from the state as some of it will be dedicated to the state. Besides, he said FIPA was a big benefit from the World Economic Forum, Africa (WEFA) in Abuja.

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