Solar Power: Stakeholder Advocates Private Sector Investment

Nigerians have been
urged to encourage entrepreneurs to invest in cheap and affordable alternative source of energy that would be beneficial to the country.
The Chief Operating Officer (COO) of Peoples Home Association for Africa, Mr Rasaki Porbeni made the call  last Monday at the Port Harcourt International Airport, Omagwa, in a chat with The Tide correspondent.
Mr Porbeni said his organisation encouraged African countries to go into solar energy production, noting that in Nigeria, the company plans to build 10 solar energy producing stations worth $1billion (dollar) to be funded solely by the private sector.
The Chief Operating Officer, explained that each of the stations would produce 50megawatts of electricity that will be injected into the national grid to help with the problem of power supply.
He said the company would recoup its investment by selling the power generated to the national grid and lauded President Goodluck Jonathan for providing soft landing for any entrepreneur that wants to invest in the power sector.
According to him, there are guarantees that has been put in place which most entrepreneurs does not know about and even the Central Bank of Nigeria (CBN) guarantees for it especially for solar and other reasonable sectors.
Mr Porbeni acknowledged that the Federal Ministry of Power is working tirelessly to solve the electricity problem of the country.
“We are going to produce mega solar panels with 20 years guarantee by our Germany company partners. An agreement will soon be signed to signal the take off and a ground breaking would be held,” he said.
He also hinted that the project would employ about 300 engineers including electrical engineers and they would be sent to Germany for training, adding that the company is collaborating with the Federal Ministry of Power because they regulate the sector to provide site for the building of the stations.

Acting Breanch Controller, CBN, Mr. Emmanuel Etuk (left) who represented Port Harcourt Branch Controller, Mr Ndubuisi Jude Ekioebelen with Corporate Communication Manager, Mr. Obinali Okoli, during a workshop on Financial Inclusion in Port Harcourt recently. Photo: Chris Monyanaga