CT Cosmos to work with Siemens on 70-MW PV project in Nigeria

Siemens AG (ETR:SIE) has been selected by Nigerian company CT Cosmos as technical partner in a 70-MW solar photovoltaic (PV) project, local media reported at the start of the week.

The two firms have signed a memorandum of understanding (MoU) for the projects, which represents an investment of USD 170 million (EUR 156m).

The solar farm will be installed in Panyam, Plateau State, where the solar radiation is very good. The PV park is planned to be commercially operational within two years.

According to reports, this is one of several large-scale solar power projects proposed by CT Cosmos at home.

Nigeria has made baby steps in solar energy development so far, but it has ambitious plans. At the end of 2014, the country’s federal government signed accords with three firms to hook about 1,700 MW of solar power capacity to the national grid.

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