Ayade to Ensure 24-hour Power Supply in Calabar, its Environs

Ayade to Ensure 24-hour Power Supply in Calabar, its Environs

Determined to ensure a 24-hour power supply in Cross River State, the state Governor, Senator Ben Ayade, has signed a Memorandum of Undermining (MoU) with SkipperSeil Limited of Dubai, United Arab Emirates.

The MoU was the highlight of a three-day Middle East Electricity Exhibition which took place in Dubai.

 According to the MoU, SkipperSeil is to establish a solar farm to produce 100 megawatts of electricity for the state.

Besides providing a bankable land as equity, the state government is also expected to make available $1 million to kick start the pilot scheme, while SkipperSeil, on its part, is to invest $15 million in the project.

In line with the MoU, it was learnt that the state has a 30 percent stake in the business, while the investors controls 70 percent holding.

Accordingly, Ayade signed the MoU on behalf of the state while Sachdeva signed on behalf of his firm.

During the signing ceremony, the governor expressed the hope that apart from guaranteeing 24-hour electricity supply to Calabar and its environs, the project would also generate massive employment and boost its internally generated revenue.

Meanwhile, a survey team from SkipperSeil has arrived in the state to identify suitable location for the project.