In a major boost to the state’s drive to expand electricity supply, attract clean-energy investments and provide more reliable power for homes and businesses, the Enugu State Government has secured a $200 million investment for a 100mw solar power programme.

The investment, estimated at N300 billion, was disclosed during a meeting between Governor Peter Mbah and a delegation from Eauxwell Nigeria Limited led by the Managing Director, Mr Edwin Enwegbara, at the Government House, Enugu.

The investment engagement, brokered through the state’s Climate and Development Investment Platform (CDIP) coordinated by the Special Adviser to the Governor on Climate and Sustainable Development, Prof. Chukwumerije Okereke, is the first major investment breakthrough facilitated by the platform established by the Mbah administration to connect investors with government institutions, regulatory agencies and communities.

The governor, while welcoming the investment, stressed that the state government’s interest went beyond attracting capital.

He insisted that the ultimate objective was to deliver reliable and affordable electricity to residents and businesses in the state at an affordable cost.

“We want an electricity market that encourages competition and gives consumers the benefit of competitive pricing,” he said.

Mbah said the tariff assumptions and financial model presented by the investors needed to be reviewed, emphasising the need to balance legitimate cost recovery by investors with electricity prices that households and businesses can afford.

“Cost recovery is important, but we must also ensure that the tariff is affordable to our people and businesses,” Mbah said.

He also called for a shorter implementation timeframe, pledging the state government’s support in removing bureaucratic and institutional bottlenecks that could delay delivery.