FG begins N4bn Kano solar project | Dailytrust

FG begins N4bn Kano solar project

FILE PHOTO
FILE PHOTO

Kano State Government Thursday began payment of compensation to landowners to kick-start the federal government’s N4 billion solar project for the industrial hub in the Kumbotso area of the state.

The project, a 10 megawatts (MW) solar power, was conceived by the federal government as a result of the importance of generation and supply of electricity in the country to the economic development of the states.

While handing over the over N42 million compensation to the over 100 beneficiaries at the palace of the District Head of Kumbotso, the contact person of the project in Kano, Dr. Jibrilla Mohammed said the contribution of the state government was to provide the necessary facility including the over 43 hectares of land for the establishment of the project.

Mohammed, who is also the MD/CEO of Kano State Investment and Properties Ltd (KSIP), said the federal government gave the responsibility of managing the project to the Nigerian Sovereign Investment Authority (NSIA) and “the project has already been paid for completely, over N4 billion. However, the arrangement is that while the federal government has taken 100 per cent of the cost of the project, the state and the local government are supposed to contribute.

“A Special Purpose Vehicle (SPV) was formed called Askay Solar Power Ltd and 80 per cent of the shares go to the federal government while the states and local governments get 15 per cent and five per cent.”