Canadian-Saudi joint venture SkyPower FAS Energy has signed agreements with the federal and Delta State governments which it says will lead to the development of 3,000MW of utility-scale solar photovoltaic projects over the next five years at a cost of $5bn. The developer is a joint venture set up in August 2013 between Toronto-based SkyPower Global and Saudi renewables developer FAS Energy, a subsidiary of the Fawaz Alhokair Group conglomerate. The agreements were signed in Abuja during the World Economic Forum on Africa, along with a Foreign Investment Promotion and Protection Agreement between the Canadian and Nigerian governments, which was signed by Nigerian trade and investment minister Olusegun Olutoyin Aganga and Canadian international development minister Christian Paradis.