The House of Representatives on Wednesday, has expressed concern on the disbursement of the $200 million Clean Technology Trust Fund (CTF), meant for the funding of solar energy project in North-East zone.<\/p>\n
Toward this end on Wednesday, it mandated its Committee on Environment and Habitat to interface with the Ministers of Environment and Finance, on the status report of the disbursement of the fund for the project.<\/p>\n
It also urged that the report should include evidence of disbursement of the funds on the $200 million Clean Technology Fund (CTF) meant for the project.<\/p>\n
This was sequel to a motion by Rep. Shehu Musa (Bauchi-APC), who noted that sometime in May 2012, the CTF Trust Fund Committee nominated Nigeria among Phase II beneficiary countries.<\/p>\n
He also said that CTF Trust Fund Committee allocated $250 million to finance its investment plan for renewable and clean energy with low carbon growth.<\/p>\n
Musa further said out of the 250 million dollars, $200 million was approved in the investment plan to finance the development of a 100 MW grid-connected solar power plan.<\/p>\n
According to the lawmaker, the 100 MW is a renewable energy sector in Bauchi.<\/p>\n
He said that the grid-connected project included two other states in the North-East, based on feasibility and Federal Government support for initiatives in the development of the North-East.<\/p>\n
Musa, who did not mention the two states however, expressed concern that five years after the approval and subsequent release of the funds, the project had not commenced.<\/p>\n
According to him, CTF funding initiative in Nigeria is intended to help overcome the financing and market barriers for low carbon investments.<\/p>\n
He said it was also aimed at supporting the deployment and application of clean energy and energy efficiency solutions in various industries, homes and service centres.<\/p>\n
\u201cThe CTF is one of the two multi-donor Trust Funds within the Climate Investment Funds (CIFs).<\/p>\n
“It is meant to promote scaled-up financing for demonstration, deployment and transfer of low-carbon technologies with significant potential for long-term greenhouse gas emissions saving, he said.\u2019\u2019<\/p>\n
The motion was unanimously adopted by members when it was put to a voice vote by Speaker Yakubu Dogara.<\/p>\n
The House, therefore, mandated its committee to report findings within three weeks, for further legislative action. <\/p>\n","protected":false},"excerpt":{"rendered":"
The House of Representatives on Wednesday, has expressed concern on the disbursement of the $200 million Clean Technology Trust Fund (CTF), meant for the funding of solar energy project in North-East zone. Toward this end on Wednesday, it mandated its Committee on Environment and Habitat to interface with the Ministers of Environment and Finance, on […]<\/p>\n","protected":false},"author":8,"featured_media":64859,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,2],"tags":[36873,36872,55,26487,36874],"yoast_head":"\n