Abuja, Nigeria: SkyPower FAS Energy, a joint venture between SkyPower Global and FAS Energy, announced the signing of agreements May 7 with both the Federal Government of Nigeria and the Delta State Government for the development, construction and operation of 3,000 MW of solar PV projects at an estimated cost of US$5 billion.
The agreements were signed at the World Economic Forum on Africa during a historic ceremony for a Foreign Investment Promotion and Protection Agreement (FIPA) between the Canadian and Nigerian governments. Representing the nations at the forum were the Honourable Olusegun Olutoyin Aganga, Minister of Trade and Investment for the Federal Republic of Nigeria and the Honourable Christian Paradis, Minister of International Development for Canada.
“The signing of the Foreign Investment Promotion and Protection Agreement marks a significant milestone. It sends a clear signal to Canadian businesses that they can work in Nigeria with confidence, and to Nigerians that they can do the same in Canada,” said the Honourable Christian Paradis, Minister of International Development for Canada. “Our government is looking to new approaches that deliver real results. The private sector has a crucial role to play in creating shared prosperity.”
Skypower was founded in Toronto in 2003. The company now has offices around the world.