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Osun, French firm seal N6.15bn power plant deal

The Osun State Government has sealed an agreement with a French company, Vergnet Group, for the construction of a 13-megawatt solar power plant.

According to the Memorandum of Understanding, the plant will be located in Osogbo and the project will gulp the sum of ¤29m (about N6.15bn).

The MoU was signed in Abuja by the Director-General, Office of Economic Development and Partnerships, Dr. Charles Akinola, on behalf of the state government; while the Chief Executive Officer, the Vergnet Group Mr. Jérôme Douat, signed for his company.

The signing of the agreement was witnessed by President Goodluck Jonathan and his counterpart from France, Mr. François Hollande.

Speaking on the deal, Akinola said the project would commence on July 30 this year and would be completed in 14 months.

He said the agreement was another demonstration of the resolve of the Governor Rauf Aregbesola’s administration to utilise partnership initiatives to bring sustainable development to the state.

According to him, the project will not only increase power supply to the people, but also boost economic activities in the state and attract Foreign Direct Investment.

He said the Vergnet Group would provide technical expertise and advisory services on the project design, planning and financing plan.

Akinola said the company would facilitate the financing of the project from the French Government, while Osun State would be responsible for the allocation of land, contractual clearing with the necessary administrative authorities and the development of the necessary infrastructure.

He commended the company for considering the state for the project and promised that the government would continue to partner with it and other reliable French companies.

Douat promised that the project would be completed within the stipulated period.

The group, according to him, specialises in sustainable and renewable energy development, noting that the company had a strong presence in Africa, particularly Nigeria, where it is in the process of inaugurating the first 70MW wind farm in Katsina State.

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