The investment, estimated at about N300 billion, was disclosed during a meeting between Governor Peter Mbah and a delegation from Eauxwell Nigeria Limited, led by its Managing Director, Edwin Enwegbara, at Government House in Enugu.
The engagement was facilitated through the state’s Climate and Development Investment Platform (CDIP), coordinated by the Special Adviser to the Governor on Climate and Sustainable Development, Prof. Chukwumerije Okereke.
According to the state government, the deal represents the first major investment breakthrough facilitated by the platform, which was established to connect investors with government institutions, regulatory agencies and host communities.
Speaking during the meeting, Mbah said the government’s priority was not simply to attract investment but to ensure that residents and businesses benefited from reliable and affordable electricity.
“We want an electricity market that encourages competition and gives consumers the benefit of competitive pricing,” the governor said.
He called for a review of the tariff assumptions and financial model presented by the investors, stressing the need to balance investors’ cost-recovery requirements with the ability of households and businesses to pay for electricity.
“Cost recovery is important, but we must also ensure that the tariff is affordable to our people and businesses,” he said.
Mbah also urged the investors to shorten the project’s implementation timeline, pledging the state government’s support in addressing bureaucratic and institutional obstacles that could delay delivery.
Enwegbara acknowledged the need to balance commercial viability with affordability, saying the final electricity tariff would be determined in consultation with the relevant regulatory authorities.
He explained that the proposed programme would use distributed solar generation supported by battery storage to provide more dependable electricity to communities and businesses.
The project is also expected to support economic activities such as agricultural processing, small businesses and other enterprises that rely on a stable power supply.
The investment comes amid ongoing electricity-sector reforms in Enugu State, where the government has assumed regulatory oversight of the intrastate electricity market as part of efforts to establish a competitive sector capable of attracting private capital.
During the meeting, Olufemi Akinyelure, head of the Nigeria Electrification Programme at the Rural Electrification Agency, joined virtually to explain the structure, objectives and implementation processes of the Distributed Access through Renewable Energy Scale-up (DARES) programme.
The meeting was attended by the Secretary to the State Government and chairman of the CDIP Steering Committee, Prof. Chidiebere Onyia; the Attorney-General and Commissioner for Justice, Barr. Osinachi Nnajieze; and the commissioners for Environment and Climate Change, Prof. Sam Ugwu; Trade and Investment, Dr Sam Ogbu-Nwobodo; and Lands, Barr. Chimaobi Okorie.
Also present were the governor’s Special Advisers on Project Delivery and Power, Ozurumba Afigbo and Joe Aneke, respectively, and the chairman of the Enugu State Electricity Regulatory Commission, Chijioke Okonkwo.
Eauxwell Nigeria Limited was also represented by its Director of Business Development, Kingsley Okenyi; Head of Project Management, Lazarus Agu; and Project Engineer, Victoria John.
The meeting also considered the separate Aninri electrification project, which has encountered land-related challenges.
Mbah requested an urgent meeting with the community’s president-general and traditional ruler to address the issues and facilitate the commencement of the project.
