Sun Africa LLC, a U.S.-based renewable energy firm, has pledged $2.2 billion to support the administration of President Bola Tinubu in providing essential power infrastructure for Nigeria, according to a statement by Bolaji Tunji, the Special Adviser of Strategic Communication and Public Relations to the Minister of Power.
The commitment was formalized after a meeting between Adebayo Adelabu, the Minister of Power, and representatives of Sun Africa led by the firm’s chairman, Goran Rajsic.
Adelabu highlighted the significant demands for new power infrastructure in Nigeria, and the initial phase of the project will focus on delivering 961 megawatts peak (MWp) of solar photovoltaics (PV) infrastructure and 455MWh of battery energy storage.
Sun Africa, along with its partners, plans to implement the transformative project in the coming months. Rajsic expressed gratitude to the partners for their support and highlighted the use of leading solar PV and battery storage technologies.
The financing partners, ING Bank and Citi, committed up to $10 billion in financing projects in the coming years, aligning with OECD guidelines for responsible business conduct.
Rajsic also mentioned collaboration with Sterling & Wilson Renewable Energy Limited, the Engineering, Procurement, and Construction (EPC) partner, to play a pivotal role in providing services for the initial project phase.
The joint efforts aim to advance sustainable and reliable energy solutions for Nigerians, reflecting a commitment to driving positive change through innovative renewable energy solutions.