The Nigeria Sovereign Investment Authority (NSIA), through its wholly-owned subsidiary – Renewables Investment Platform for Limitless Energy (RIPLE), alongside North South Power Company Limited (NSP) are jointly investing in a pioneer 20MW solar-hydro hybrid project in Shiroro, Niger State.
This strategic partnership is in alignment with the Authority’s commitment to sustainable infrastructure development and cleaner more efficient energy solutions in Nigeria. It is also a clear indicator of NSP’s intent to be sub-Saharan Africa’s leading renewable power generation company. This joint venture is poised to kickstart a transformative phase in Nigeria’s energy landscape.
This 20MW Pilot Project (Phase 1a) is embedded within a larger 300MW solar program, to be co-located within NSP’s existing 600MW Shiroro Hydroelectric Power Plant concession area in Shiroro, Niger State. The innovative approach involves hybridizing the existing hydro assets with solar power to enhance electricity generation and grid reliability, which will in turn allow the solar panels to generate electricity during the day and the dry season, while also conserving water for hydroelectric generation all year round.
This accord further re-validates the Authority’s focus on renewable energy for national development, especially as it comes after the commissioning of Nigeria’s largest grid- connected solar PV plant in Kano State in January 2023 and the subsequent launch of RIPLE in Q4.
Speaking on the partnership, Managing Director / CEO, NSIA Aminu Umar-Sadiq, said: “This project will deepen Nigeria’s clean energy portfolio, create jobs, and re-affirm our dedication to energy efficient solutions as a lever for socio-economic development. It further exemplifies NSIA’s role as a catalyst for positive change, steering Nigeria towards a more sustainable future.”
Olubunmi Peters, the Executive Vice Chairman/CEO of NSP, affirmed NSP’s dedication to renewable energy solutions by stating, “NSP’s strategic intent to embark on this Solar-Hydro Hybridization Project is a testament to our sustained focus on renewable energy as an integral component of economic growth. Through this project, we have further revalidated our over-arching mandate to uphold to the highest standards of environmental and social responsibility, demonstrating innovation and market leadership.”
The recently concluded signing ceremony was chaired by His Excellency, the Vice President of Nigeria, Sen. Kashim Shettima, GCON with the Honorable Minster of Power, Chief Adebayo Adelabu; representatives from NSIA and NSP, as well as other public and private sector dignitaries also present.
Previously, the Authority, in collaboration with the United Kingdom’s Foreign Commonwealth and Development Office (FCDO) – through its Mobilist program, the United States Agency for International development (USAID), Prosper Africa and Norfund, launched the Green Guarantee Company (GGC) – the world’s first climate-focused guarantee company.
Also, NSIA and Vitol recently signed a Joint Venture Agreement to establish Carbon Vista and seeded it with $50 million – for investments in a range of carbon avoidance and removal projects.
The partnership with North South Power is therefore an additional testament to NSIA’s focus on positive climate for economic advancement.