CHICAGO, IL--(Marketwired - November 20, 2014) - New Generation Power, a global leader in the renewable energy industry, together with Motir Seaspire, signed a Memorandum of Understanding (MoU) with the Federal Government of Nigeria to deliver 1200 megawatts (MW) of utility-scale solar photovoltaic (PV) projects within Nigeria.
Expected to break ground by 2015 and be fully operational within the next two years, the completed solar project will represent an investment of over $2 billion USD.
Chicago-based New Generation Power (NGP) has committed to work closely with Motir Seaspire and the Government of Nigeria throughout the planning, financing and construction of the 1200 MW solar energy project.
NGP Chairman, Dr. Chirinjeev Kathuria, said, "Gaining access to electricity can be life-changing. We are confident that our knowledge and experience creating large-scale solar projects will ensure a successful project. The NGP family hopes that this introductory project will act as a benchmark for continued innovative and environmentally friendly renewable energy projects across Africa that will literally alter day-to-day life for millions of people."
With plans to fast-track the solar installation, the Government of Nigeria is in the process of identifying and allocating land suitable for the project, in addition to licensing and other project requirements.
According to Jafer Hasnain, Partner of Motir Seaspire, the project aims to connect Nigeria, the United States and West Africa by providing a sustainable and efficient energy solution that will not only help the people of Nigeria, but also improve Nigerian energy infrastructure.
Nigeria has enormous solar energy potential, yet roughly 60 percent of Nigerians lack access to power.
"We must support this project, as it will be in tandem with Mr. President's long time wish for Nigeria to enjoy its abundant solar potentials especially those in rural areas, as it is envisioned that through a project like this, they would be linked to micro or mini-grid systems," said Minister of Power, Professor Dr. Chinedu Nebo.
Once completed, the Nigerian Solar Project is expected to deliver around 590,400 MW-hours of renewable electricity annually -- which is enough to power roughly over 1 million Nigerian homes.
The project consortium is also committed to giving a significant percentage of profits to philanthropic activities within Nigeria that will help provide job training, healthcare and secure jobs for thousands of skilled Nigerian technicians.
NGP is currently developing over 3000 MW of solar, hydro, wind & thermal projects across the globe and is dedicated to create state-of-the-art renewable energy facilities in Nigeria beyond the initial 1200 MW.
ABOUT NEW GENERATION POWER
NGP is headquartered in Chicago, and is a global investor, owner and operator of infrastructure assets in the key areas of Utility Scale Power Generation including Conventional and Renewable Energy Production, Distributed Generation and Mining Exploration & Extraction in the USA and internationally. NGP is developing world class Infrastructure projects including toll roads and energy projects about 3000 MW in capacity in areas of hydro, solar, wind, thermal projects across the globe. The company will be generating energy for developed and developing countries that will create job opportunities and employment for several million people. Visit the company online at www.newgenpower.com.
ABOUT MOTIR SEASPIRE ADVISORS, LLC
Motir Seaspire Advisors, LLC is a Washington, DC based company specializing in construction, infrastructure and energy development with an interest and focus in Nigeria. They act as Managing Partner for a consortium of dedicated companies concentrating on infrastructure for basic needs including energy, food, shelter and mobility. Their mission is to strategically engage Nigeria across related sectors such as renewable energy, buildings, transportation, natural gas & agriculture.
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IMAGE TITLE: Signing Ceremony in Abuja announcing 1200 MW solar project in Nigeria. CAPTION: Pictured left to right: Mr. Jafer Hasnain, Partner of Motir Seaspire; Mr. Emmanuel Irono, CEO Motir Seaspire; Professor Dr. Chinedu Nebo, Minister of Power; Ambassador Dr. Godknows Boladei Igali, Permanent Secretary Federal Ministry of Power