The Federal Government has signed a $10 billion development and Engineering, Procurement and Constructive (EPC) implementation frame work agreement with a US firm – Sun Africa LLC.
This agreement was signed at the US-Africa Business Forum (USABF) in Washington D.C. with the largest US renewable energy company operating in Africa.
The pact, according to a release by a Presidential Spokesman, Garba Shehu, was for the construction of 5,000 MW of solar generation and 2,500 MWh of battery energy storage power plants for up to $10 billion investment from the US government.
It was signed by Otunba Adeniyi Adebayo, Minister of Industry, Trade and Investment, and Adam Cortese, CEO of Sun Africa, in the presence of Amos Hochstein, President Joe Biden’s Special Presidential Coordinator for the Partnership for Global Infrastructure and Investment.