The agreement aimed at accelerating the Presidential Power Initiative (PPI) was signed on Friday by Kenny Anuwe, CEO of FGN Power Company, and Nadja Haakansson, Siemens Energy managing director for Africa, on the sidelines of the ongoing COP28 in Dubai.
The PPI project agreement was first entered in 2019 and was to be implemented in three phases including delivering an additional 2GW to the grid to achieve improved grid stability and reliability; bringing the system’s operational capacity to about 11G, while also increasing the system’s capacity to 25GW.
Speaking to journalists after the signing, Adebayo Adelabu, minister of power, said the agreement will see to the end-to-end modernisation and expansion of Nigeria’s electric power transmission grid.
Adelabu said different factors including COVID-19 had affected the progress of the project after its initial signing in 2019 but that Nigeria is now ready to proceed and deliver.
He said Siemens Energy has already supplied the necessary equipment needed to execute the project and within 12 to 24 months the government will expand the grid capacity from 6,000 to 8,000 megawatts, with hopes to get to 12,000mw in three years.