Nigeria’s solar power ambitions have
received a major boost as two global companies have come together to
invest $100 million in the country’s first utility-scale solar power
project. Project developer Access Infra and asset management company Quaint Global Energy Solutions have announced
plans to jointly invest $100 million in a 50 MW solar power project in
Nigeria. The ABIBA solar power project will be located in the Kaduna
state.
The investment is a result of the Access
Co-Development Facility competition launched by Access Infra as a
platform to facilitate development of renewable energy projects in
Africa. Construction on the project is expected to begin in six months,
and should be completed in a year. Recently, Nigeria approved
feed-in tariff regulations for renewable energy projects,
with electricity distribution companies required to source at least 50%
of their total procurement from renewable energy sources.
Several foreign project developers have
already announced plans to develop large-scale renewable energy projects
in Nigeria. Solius NGPC, Peoples Home Association, and Solar Force
Nigeria Limited, all have plans to set up a cumulative solar power capacity of 1 GW. A joint venture company between SkyPower Global and FAS Energy plans to set up 3 GW of utility-scale solar power projects.
http://cleantechnica.com/2015/11/27/100-million-investment-announced-nigerias-first-utility-scale-solar-power-project/
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