The Government of Plateau State, in partnership with PUTTRU, Africa’s frontline energy investment facilitating platform has signed a Memorandum of Understanding to develop and implement the energy sector goals of the state.
According to a statement jointly issued by the two parties, PUTTRU is expected to mobilise financial resources for the state’s energy sector projects in the form of grants, concessional loans, and equity, based on terms acceptable by the partners, while availing technical assistance to strengthen the state’s internal capacity and organisational ability to execute these objectives.
The MOU was signed on behalf of the state by the Managing Director of the Plateau State Energy Corporation, Engr. Ponzing Gamde and the founder and chief executive officer of PUTTRU, Monica Maduekwe, and will commence in 2025.
The Plateau State Energy Corporation was established to develop the state’s diverse energy resources and achieve energy security.
In line with its mission to accelerate and attract investment in Plateau’s energy sector, the partnership with PUTTRU will result in an investment master plan for the sector. Broadly this partnership will target enhancing energy production by ensuring the development of diverse natural energy resources in the state-hydro, solar, wind; diversifying the state’s rural electrification goals to local communities; promoting alternative and eco-friendly energy alternatives for cooking and transportation as well as availing an effective power off-taking framework with developers.
This is coming on the heels of two bills signed into laws by the His Excellency, Governor Caleb Mutfwang, which are the Plateau State Energy Corporation and Plateau State Electricity Market. These laws will facilitate generation of adequate electricity, including from renewable energy sources, to meet the needs of the public and to enable surplus sales to neighbouring states.
Extolling Plateau State Government’s visionary approach towards solving the energy needs of the state, PUTTRU’s founder, Monica Maduekwe said: “In accordance with the provisions of the Electricity Act 2023 (Amended), which empowers states to establish their own electricity markets, the State Government has embraced this opportunity to drive investment by creating opportunities for public-private-partnerships in the energy sector.
