Connect with us

Hi, what are you looking for?

CleanTechnica

Green Economy

$100 Million Investment Announced For Nigeria’s First Utility-Scale Solar Power Project

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.

 
Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.
Advertisement
 
 

Written By

An avid follower of latest developments in the Indian renewable energy sector.

Comments

You May Also Like

Clean Power

Breweries are some of the largest energy consumers in the C&I sector. These large facilities will benefit a lot from installing grid-tied solar power...

Clean Power

Wärtsilä, a global leader in innovative technologies and lifecycle solutions for the marine and energy markets, has just released a new report titled Pathways...

Clean Power

It’s 2022, and 600 million people in Africa still don’t access to electricity. About 50% of them live in the Democratic Republic of the...

Clean Power

Reliable, affordable, and sustainable energy access has been a challenge for rural communities in Africa. Although 18% of the world’s population live in Africa,...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.