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Minister of Power, Mr.Adebayo Adelabu, has announced a $20 billion 10,000MW Northern Africa Desert to Power fund.
Adelabu, disclosed this after a bilateral cooperation meeting with the AfDB cabinet, presided over by AfDB President, Dr. Akinwumi Adeshina, at the “Just concluded Energy Transition and Agricultural Transformation for Africa” conference in Busan, South Korea.
This was even as he said the Rural Electrification Agency, REA, is set to boost the Nigeria Electrification Project, NEP, initiative as the African Development Bank (AfDB), with a $250 million fund for the project.
Minister of Power, Adebayo Adelabu, who made the disclosure also confirmed Federal Governments readiness to extend support to Northern Nigerian states through the $20 billion 10,000MW Northern Africa Desert to Power fund.”
Adelabu, disclosed this after a bilateral cooperation meeting with the AfDB cabinet, presided over by AfDB President Dr. Akinwumi Adeshina, at the “Just Energy Transition and Agricultural Transformation for Africa” conference in Busan, South Korea.
Adelabu, explained that the Northern Nigerian project is from the AfDB’s $20bn Desert-to-Power initiative, aimed to develop 10,000 MW of solar power for eleven African countries.
He said that during the Bilateral Cooperation meeting with the AfDB cabinet, the Nigerian delegation secured an In-Principal Agreement from AfDB for Technical Advisory Sponsorship, potentially encompassing stress testing and capacity simulation of Nigeria’s Power infrastructure.
According to him, the aim of the Technical Advisory sponsorship was to establish operational capacity across the entire value chain, and facilitate project prioritization.
“In a productive Bilateral Cooperation meeting with the African Development Bank (AfDB) cabinet, presided over by AfDB President, Dr Akinwunmi Adeshina at the ongoing “Just Energy Transition and Agricultural Transformation for Africa” conference in Busan, South Korea, the Nigerian delegation, led by myself, secured an In-Principle Agreement from AfDB for Technical Advisory Sponsorship, potentially encompassing stress testing and capacity simulation of Nigeria’s Power infrastructure.
“This initiative aims to establish operational capacity across the entire value chain, facilitating project prioritization. He said that during the Bilateral Cooperation meeting with the AfDB cabinet, the Nigerian delegation secured an In-Principal Agreement from AfDB for Technical Advisory Sponsorship, potentially encompassing stress testing and capacity simulation of Nigeria’s Power infrastructure.
According to him, the aim of the Technical Advisory sponsorship was to establish operational capacity across the entire value chain, facilitating project prioritization, Adelabu said.
