Solar energy will crash price of power in Nigeria – Triton Solar

New Jersey, United States of America-based, a manufacturer of solar panels, lighting and batteries, Triton Solar, has promised that the price of power will crash in the Nigeria with the introduction of solar energy.

Mr Bhagi Sandilya, the Managing Partner, Global Head of Business, Triton Solar, gave this assurance when he paid visits with Chief Temitope Ajayi, the Chairman/Chief Executive Officer of Silicon Valley Nigeria Economic Development Inc, to Governor of Oyo State, Seyi Makinde and a former Minister of Industry, Alhaji Bamanga Tukur.

Sandilya, who promised that his organization, which intends to build three plants in Lagos state, Oyo state and the Federal Capital Territory, FCT, would invest about $100m within five years in each of the plants, said that apart from crashing the price of power, solar energy would also provide clean energy solution and power different sectors of the nation’s economy to the satisfaction of all

The company already operates in different parts of the world, including in Morocco, India, Canada and the United Arab Emirate.

Noting that Nigeria would be their first port of call in Africa, the Triton Solar chief said that of the total investment sum of more than $300 million over five years, starting with $25 million in the first year, they would require 20 per cent funding commitment from state or local financial partner.”

Responding, Alhaji Tukur, the Executive President of the African Business Roundtable and Chairman of NEPAD Business Group, said that the energy challenge was a major problem negatively affecting industrialisation, productivity and the general wellbeing of Nigerians.

Tukur stressed that solar energy is needed in Nigeria, insisting that it would accelerate industrialisation and economic growth and reduce cost of manufacturing.

He said, “We really need safe and sustainable energy that will give us no problem. Solar is a new technology. It is gaining ground. Fossil fuel is no longer fashionable. The sun is here; so solar is the in-thing.”

Chief Temitope Ajayi, in her contribution, said the Triton Solar investments would create over 10,000 jobs especially for the youths, which will address one of the United Nations Sustainable Development Goals – employment/job generation.

Ajayi also pointed out that there would be influx of high profile investors into Nigeria when the energy challenge is solved.