The investment was confirmed during a meeting between Governor Peter Mbah and representatives from Eauxwell Nigeria Limited. The program is designed to deploy distributed solar generation, supported by battery storage, to ensure more dependable electricity for communities and businesses.
Governor Mbah emphasized that the state's goal extends beyond attracting capital, focusing on delivering reliable and affordable electricity. He highlighted the need for a competitive electricity market that benefits consumers with competitive pricing, while also ensuring investors can recover costs.
The investment was brokered through the state’s Climate and Development Investment Platform (CDIP), a new initiative established to connect investors with government institutions and regulatory agencies. This marks a significant early success for the platform.
Eauxwell Nigeria Limited acknowledged the importance of balancing cost recovery with affordability for consumers. The company stated that the final tariff will be determined in collaboration with relevant electricity regulators. The proposed solar program is intended to support productive activities, including agricultural processing and small businesses.
This development aligns with Enugu State's ongoing electricity sector reforms and its assumption of regulatory oversight for its intrastate electricity market, aiming to foster a competitive environment for further private investment.