Leading global engineering services giant Siemens, through its subsidiary Siemens Nigeria, and
CT Cosmos, a Nigerian firm based in Abuja, have concluded an (MOU) memorandum of understanding to construct a 70MW alternating current (MWac) photovoltaic
(solar) power facility estimated at $170 million in Panyam, Plateau State, according to a recent reports by This Day.
The project, which is expected to be
completed in a less than two-year period, will supply the generated power to the national grid to improve its capacity.
The 70MWac solar power plant is the first in a series of large solar power generating facilities proposed by CT Cosmos for various sites in Nigeria.
The CEO of CT Cosmos, Mr. Phillip Chukwueke stated that solar power is now approaching parity with traditional sources of energy and
expressed his optimism that in the not too distant future it would become more cost effective to generate electricity from the sun
than from hydro and thermal sources.
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