The United States has invested over $50 million in clean energy projects across 18 states in Nigeria, according to Brent E. Omdahl, Head of U.S Commercial Service Unit, United States Trade and Development Agency (USTDA).
The USTDA head made this known in Lagos at the second Interactive Forum organized by Power Sector Group of Lagos Chamber of Commerce and Industry (LCCI), on Thursday.
“The Agency’s program in Nigeria includes a portfolio of over 60 projects and over $50 million in investments that could result in leveraging over $3 billion in public and private financing. In Kaduna state, USTDA is supporting Quaint Global Energy Solutions for a feasibility study undertaken by Tetra Tech ES (Pasadena, CA) for the Abiba 50 MW Solar IPP Plant,” he said.
Omdahl added that the agency is also supporting a grid connection feasibility study in Kano State for the off-take of up to 100 MW of solar photovoltaic power, enough to supply 400,000 households with electricity. “We support priority infrastructure activities across 18 states in Nigeria in the sectors of clean energy, oil and gas, telecommunications and transportation. USTDA is currently preparing nine projects for development that could generate more than $5 billion in U.S. sales.”
Also speaking at the event, LCCI President, Nike Akande (photo), noted that the high cost of generating electricity for business activities, which in some cases can be as high as over 40% of industrial production cost is unfavorable. “The experience of the US in the power sector and the country’s commitment to developing power generation in Africa through the ‘Power Africa’ project will no doubt positively impact on the Nigerian Power Industry. Also, apart from generating economic activities to improve Nigeria’s GDP, the collaboration between companies in Nigeria and those in the US will promote bilateral relations between the two countries.”
Source: Ecofin Agency