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Korean Firm to Build $30 billion 10,000 Megawatts Solar Power Plant in Nigeria

By on November 22, 2012

The Nigerian Investment Promotion Commission (NIPC) has revealed that a Korean firm has indicated interest in investing $30billion to build a 10,000 megawatts solar power plant in the country.

Mr. Kin Moon who is the Chief Executive Officer of HMC, the Korean firm also confirmed the news during his meeting with the management of NIPC in Abuja.

According to Mr. Kin Moon, they intend to begin constructing the plant in January 2014, producing 1000 megawatts every year for 10 years.

In his words, “The company has plans to build 300 megawatts of photophobic panel plants and other solar thermal technology and 10,000 jobs are expected to be generated when the project takes off, while $1.8billion will be generated annually from the project.

“The company will need at least 83, 999.99 hectares of land to actualize the project in the country. The firms visit to NIPC is to seek assistance and support in the area of facilitation, gather relevant information, legislative and regulatory framework to enable the firm commence operation,” describing Nigeria as a fertile land for investment.”

6 Comments

  1. Precious Omoruyi

    November 22, 2012 at 8:44 am

    this project must be nurtured!

    • Larry L Edwards (~=E

      November 22, 2012 at 5:52 pm

      Precious, you’re right, and the project funds must not go to Nigerians to build the project, or the majority of the $$$ will find its way into some European bank deposited in some officials account.

      • Precious Omoruyi

        February 7, 2013 at 8:10 am

        you said it all. I will further suggest all aids are tied to specific project, rather than giving th emoney to our corrupt pot-bellied politicians!

  2. Starley Muneason

    November 22, 2012 at 5:21 pm

    In Nigeria, they are always “going to do this”, “plans to do that”, “will be doing this”but never have done sth. When you actually get to the point when somethings has been done, it is either nepotism, tribalism, corruption or whatever is a part and parcel of the foundation, meaning that it cannot stand the test of time. Good Luck sha

  3. Larry L Edwards (~=E

    November 22, 2012 at 5:47 pm

    The solar power plant will go a long way in providing much needed energy to the population, especially since Nigerians keep polluting their lands with fuel oil spills.
    Now this will take a small burden away from the public having to deal with pollution and loss of some fishing habitats.

  4. Nwaeze

    November 25, 2012 at 12:56 pm

    It ‘ll be very nice if it will come to accomplishment, i pray that God will help us for this because it is a good plan.