LandWey Investment Limited, a leading Nigerian real estate development company, has sealed a landmark deal with Virtuitis Solaris, a subsidiary of MOJEC International Holdings to develop the Isimi Lagos Solar Farm, a renewable energy project aimed at promoting sustainable development and reducing the carbon footprint in Nigeria.
The Isimi Lagos Solar Farm will be a 50 MW solar photovoltaic power plant, with the potential to scale to 100 MW- located in the heart of Lagos, Nigeria’s commercial capital.
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.
The solar farm will also reduce the cost of electricity for businesses and households, making it an attractive investment for both private and public sector players.
Speaking on the deal, Olawale Ayilara, Founder and CEO of LandWey Investment Limited, said: “We are excited to partner with Virtuitis Solaris 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, Group Managing Director, MOJEC International 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 with a Live Play & Eat concept. 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 to reducing the carbon footprint in Nigeria, but also help to create jobs and stimulate economic growth.”
She also commended Landwey for blazing the trail in making the bold move to use renewable energy to power the city.
The Isimi Lagos Solar Farm is expected to be completed by 2025, and it is projected to power over 70,000 homes and businesses in Lagos.
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.