NIGUS, LTI to invest $600 million to generate 100MW electricity in N/East — Daily Times Nigeria Press "Enter" to skip to content

NIGUS, LTI to invest $600 million to generate 100MW electricity in N/East

As part of government efforts to attract and retain Foreign Direct investment into the Renewable Energy sector of the Nigerian economy, a Germany firm LTI Germany Incorporation in partnership with Nigus International Investment Ltd said it has concluded plan to generate 100 megawatts of electricity in the North East of Nigeria.

The Chief Executive Officer of NIGUS Prince Malik Ado-Ibrahim stated this Tuesday during a solar investment round-table in Abuja.

Ado-Ibrahim said that the project would create 16,000 to 17,000 jobs for youths in the country especially in the north eastern states.

Managing Director of NIGUS Aliyu Dili said “We want to give them hope, Adamawa get less than 5 megawatts.

We want to look at a country beyond oil sector. Giving people a better tomorrow.

Our challenge is to empower people and give hope. 16,000 to 17,000 youths will be employed to carry out this project.

Power gives hope, no reconstruction without power, so we have done this, so in the next six months we must have generated 100 megawatts starting with 25 megawatts.

By the end of 2017 we will have a total of 100 megawatts.”

Chris Voet, Chief Sales Officer of LTI Reenergy said that despite the security challenges in the north east, they are not worried about investing in Nigeria because their focus was to support the Nigerian power sector to strengthen the economy.

“Our idea is to flag up our investment in Nigeria, because Nigeria can supply energy to other countries, in Nigeria there is basic and best opportunity to invest, Nigeria also has the requirements we can use to excel in other countries,” he stated.

The event was organized in collaboration with the Nigerian investment Promotion Commission (NIPC), Nigus International investment Limited and LTI Germany Inc.

The event showcased the LTI Solar Power Inverters technology to stakeholders in the energy/power sector and highlighted the renewable energy growth potentials in Nigeria to potential investors.

Nigus International has partnered with LTI Germany inc and other OEM/solar PV manufacturing companies to create a local renewable industry in Nigeria with the principal drive to initially market its inverter products to the first set of developers in Nigeria and ultimately develop and operate an assembly plant in the country.

The NIPC with Nigus and LTI have signed a memorandum of Understanding to collaborate and develop the renewable energy market in Nigeria and create the necessary enabling environment for the sector in view of its strategic importance to the overall development of the Nigerian economy.

Chris Voet, Chief Sales Officer of LTI Reenergy said that despite the security challenges in the north east, they are not worried about investing in Nigeria because their focus was to support the Nigerian power sector to strengthen the economy.

“Our idea is to flag up our investment in Nigeria, because Nigeria can supply energy to other countries, in Nigeria there is basic and best opportunity to invest, Nigeria also has the requirements we can use to excel in other countries,” he stated.

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