Scatec Solar announced it has secured 100 MW (DC) solar project at Nova Scotia Power plant in Nigeria.
The agreement was signed with CDIL, a Canadian renewable energy development company focused on Africa, and BPS, a Nigerian strategic consulting firm.
The Nova Scotia project company, signed a 20-year Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trading Plc (NBET) on July 21st, 2016.
“Solar power in Nigeria has significant long-term potential, and we want to take part in the development of this new market. This investment is the culmination of an extensive review during which the Nova Scotia Power project stood out thanks to its exceptional fundamentals,” said Raymond Carlsen, CEO of Scatec Solar.
“With the quality of its site, development standards and equity funded by Scatec Solar and its partners, the project is ideally positioned to progress rapidly to financial close,” Carlsen said.
Scatec Solar will develop, build, own and operate the solar power plant in Jigawa. The project is expected to reach financial close in 2017 and commercial operations 12 months thereafter.
Currently, Scatec Solar produces electricity from 404 MW of solar power plants worldwide and is a leading independent solar power producer in Africa with nearly half of this capacity located in the region.
IANS