A historic agreement to create the Isimi Lagos Solar Farm has been announced by LandWey Investment Limited, a Nigerian real estate development company, & Virtuitis Solaris, a division of MOJEC International Holdings.
A renewable energy initiative called the Isimi Lagos Solar Farm seeks to advance sustainable growth and lessen Nigeria’s carbon footprint.
The Isimi Lagos Solar Farm, described by LandWey as a 50 MW solar photovoltaic power plant with the capacity to scale to 100 MW, would be situated in the centre of Lagos, Nigeria’s commercial metropolis.
“The project will use renewable energy sources, including the power of the sun, to abundantly generate clean energy for businesses and households in Lagos, reducing dependence on fossil fuels and promoting sustainable development,” it added.
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The solar farm, it said, would also reduce the cost of electricity for businesses and households, making it an attractive investment for both private and public sector players.
“The project is in line with Nigeria’s commitment to the Paris Agreement, which aims to limit global warming to 1.5 degrees Celsius and reduce greenhouse gas emissions,” it added.
Commenting on the deal, the founder and CEO of LandWey Investment Limited, Olawale Ayilara said: “We are excited to partner with Virtuitis Solaris – Mojec International to develop the Isimi Lagos Solar Farm. This project aligns with our commitment to sustainability and reducing the carbon footprint in Nigeria. It also reinforces our vision of creating sustainable and inclusive communities that provide quality living and working spaces for Nigerians.”
Also speaking about the partnership, GMD of Mojec Int’l Holdings, Chantelle Abdul said: “We are pleased to partner with LandWey Investment Limited to develop Isimi Lagos Solar Farm- A first of its kind, Green Energy City.
“This project is a testament to our commitment to promoting renewable energy and sustainable development in Nigeria. We believe that this project will not only contribute.
She further commended Landwey for blazing the trail in making the bold move to use renewable energy to power the city.
The solar farm was expected to be completed by 2025, and it was projected to power over 70,000 homes and businesses in Lagos.
Story adapted from ThisDay
