The Osun State government has sealed an agreement with a French Company, Vergnet Group for the construction of 13 megawatts solar power plant at the sum of 29miilon Euros (About N6.15 billion).
The Memorandum of Understanding (MoU) for the plant was recently signed in Abuja by the Director General, Office of Economic Development and Partnerships Dr. Charles Akinola, on behalf of Osun state while the Chief Executive Officer of the Vergnet Group Mr. Jérôme Douat signed for his company. Speaking on the deal, Akinola said the project which would be located at Oshogbo; the state capital will take off by July 30th this year and is expected to be completed between 12 to 14 months. He said the agreement is another demonstration of the resolve of the current administration to utilize partnership initiatives to bring sustainable development to the state.
He stated that the project will not only increase power supply to the people, it would also boost economic activities in the state and further attract foreign direct investments.
Under the MoU, he said Vergnet Group will provide technical expertise, advisory services including the project design, project planning and financing plan. Akinola added that the company will facilitate the financing of the project from French Government, while Osun state would be responsible for identification and allocation of land for the project, contractual clearing with administrative authorities and for developing the necessary infrastructure.
In his remarks, Douat assured that the project would be completed within the stipulated period. The group he said, specializes in sustainable and renewable energy development.
He noted that the company has a strong presence in Africa particularly Nigeria where it is in the process of commissioning the first wind farm of 10mw in Katsina state.