Australia Investors storm Benue, set to develop 10 GW Solar Photovoltaic Power Plant

From Attah Ede, Makurdi

Foreign investors from Australia has arrived in Benue State to develop a 10 GW solar photovoltaic power plant in the State.

It was gathered that the governor Rev. Fr.Hyacinth Alia met with some of the investors while in his trip to the United States.

The investors, Paul Camp and Richard Vargas of United Solar Energy, were received by the Managing Director of Benue Investment and Property Company Limited (BIPC), Raymond Asemakaha in the company of representatives of the Commissioner for Justice, Public Order and Attorney-General, Justin Gbagir, and representative of Commissioner for Transport and Power, Jonathan Uhaa.

The Nations News Nigeria reports that the investors on their arrival presented a comprehensive public-private partnership, PPP, framework for the project to the team.

The framework which was scrutinized by the team, and recommendations will be forwarded to the governor, Rev. Fr.Hyacinth Alia, after which a memorandum of understanding will be signed virtually.

The framework outlines the terms of the partnership that the state government is to provide suitable land that will cover the entire project, plus 15 years of environmental approvals and authorizations and a signed master schedule Power Purchase Agreement (PPA) for 25 years.

Other clauses include providing asset-backed green bond security, ISPO, commercially ensuring the viability of the project, and providing tax concessions, incentives, and financial grants.

The PPP agreement will also have the Benue State Government providing access to an incentive scheme on import tax and providing adequate infrastructure, among other conditions.

A statement from the media department of the company signed by Peter Asema and made available to newsmen in Makurdi, said the Australian investors will in return, provide 100 percent funding, provide jobs for locals, up-skill local manpower, and re-skill unemployed youths in the state.