US Firm Arrow Capital Nigeria Limited To Build N600b Solar Plant In Unilorin

University Of Ilorin

An American company, Arrow Capital Nigeria Limited, has concluded arrangements to build a solar energy plant at the University of Ilorin at a cost of $2.3 billion (about N600 billion).

When completed, the solar plant is expected to generate a total of 500MW of electricity and significantly improve the level of power supply in the country.

Signing the project's Memorandum of Agreement (MoA) with the Vice-Chancellor of the University of Ilorin, Prof. AbdulGaniyu Ambali (OON), last Friday (May 6, 2016), the Managing Director/Chief Executive Officer of Arrow Capital, Mr. Brian A. Travis, disclosed that the project would commence immediately and would be completed within five months.

Mr. Travis commended the Vice-Chancellor for his commitment to the project, noting that the project was coming up only five months after President Muhammadu Buhari (GCFR) made a commitment to solving power problem in Nigeria through solar power.

The Arrow Capital boss added that the University was chosen for the project because of the centrality of its location, which he said is ideal to transmit power generated to Kano and Lagos.

According to the Arrow Capital CEO, the project, when completed, would provide 10% of Nigeria's total power need and create jobs with several multiplier effects.

He also said that the culture of excellence in the University of Ilorin coupled with its stable academic calendar in the last 16 years, make the University an ideal location for the project, as this is a sure guarantee of security for the project. He added that the project would put the University on the global map.

On the source of funding for the project, Mr. Travis, who was accompanied to the MoA signing ceremony by the company's Director of Business Development, Mr. Brian C. Amonu, explained that it is an entirely private funded project. He pointed out that it is a good example of a private-public partnership.

In his remarks, the Vice-Chancellor of the University of Ilorin, Prof. Ambali, described the project as an opportunity to contribute to the effort of the Federal Government in terms of power generation and distribution.

Prof. Ambali, who stated that the project would guarantee 24-hour power supply to the University, disclosed that the University consumes only about 4MW of electricity and therefore the remaining would be sold to the nation.

The Vice-Chancellor disclosed that a solar panel assembly plant would be built in the University as part of the project, saying that it would enhance the knowledge of engineering students and the entrepreneurial skills of the students.

“This project will contribute significantly to Kwara State and Nigeria at large and will be ready for commissioning by October”, Prof. Ambali revealed.

The Vice-Chancellor was joined at the MoA signing by the Deputy Vice-Chancellor (Management Services), Prof. Adedayo Abdulkareem; the Deputy Vice-Chancellor (Academic), Prof. N. Y. S. Ijaiya; the Deputy Vice-Chancellor (RTI), Prof. Gabriel Olatunji; the Registrar, Mr. Emmanuel Dada Obafemi; the University Librarian, Dr. Joseph Omoniyi; and the Deputy Bursar, Mr. Munirudeen O. Dere

Also in attendance were some members of the University Governing Council: Prof. A. S. Abdulsalam, Prof. A. A. Adeoye, and Prof. A. Sanni as well as Chairmen of all workers' unions in the University.