Sinoma International Engineering Company, a prominent Chinese green energy firm, has shown interest in establishing a renewable energy technology manufacturing industry in Nigeria’s Evergreen City.
The company’s Chairman, Mr. Yin Zhisong, revealed this during a dinner in Beijing, China, hosted for Chief Ajuri Ngelale, Nigeria’s Special Presidential Envoy on Climate Action.
Chief Ngelale informed reporters that this investment proposal significantly supports Nigeria’s efforts to localize the renewable energy technology value chain.
He added that the investment would be managed through Sinoma’s leading subsidiary, the CNBM Group, which oversees $85 billion in assets, employs 200,000 people, holds 11,000 patents, and operates 26 Research and Development Institutes.
During his stay in Beijing, Chief Ngelale also participated in a crucial virtual discussion with a joint technical team from the U.S. Department of Energy and the U.S. State Department.
This discussion followed up on Nigeria’s progress in developing a circular economy and a new initiative that is programmatic, project-driven, private sector-led, and public sector-enabled.
The initiative aims to create industrial clusters and consumer credit-tied financing packages, contributing to Nigeria’s goal of achieving a $1 trillion GDP in an inclusive manner that fosters opportunities for Nigerians.
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