Nigeria’s first utility PV plant moves forward with signing of US$100m development deal

Facebook
Twitter
LinkedIn
Reddit
Email
The Quaint team receiving the ACF award for the ABIBA proejct earlier this year. Image: Quaint Global Energy.

Developer Access Infra Africa and asset management firm Quaint Global Energy Solutions are to co-invest in a 50MW PV project in Nigeria.

The two companies will jointly invest US$100 million in the ABIBA solar project in Nigeria’s Kaduna state.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The project would be the first significant solar array in Nigeria, where expectation over the country’s potential solar market has yet to translate into any meaningful installed capacity.

Speaking at a signing ceremony in Nigeria’s Ministry of Power headquarters in Abuja, Reda El Chaar, executive chairman of Access, said: “We see this project as a gateway to the widespread adoption of renewable energy in Africa’s largest economy, whilst cementing the role of ACF as an innovative platform for turning good concepts into bankable projects.”

The investment was originated by Access through its ‘Access Co-Development Facility’ (ACF) competition, an Africa-focused platform designed to bridge the gap between early-stage renewable energy projects and the resources they require to become operational.

Launched earlier this year, the competition made US$5 million available for up to five renewables projects across Africa. According to Access, the facility attracted 55 entries from 18 countries, with Quaint named as one of two winners, alongside Flatbush Solar from Cameroon.

Under the deal, Access will take an equity stake in the project, as well as funding third-party development costs such as feasibility studies, grid studies, environmental and social impact assessments and other due diligence fees, providing technical support, financial structure and development process management.

According to information in Quaint’s website, the grid-connected ABIBA project will be situated on 150 hectares of the Manchok Ranch in Kaduna State, around 2.5 hours from the Nigerian capital, Abuja.

A spokesman for Access said construction of the plant is expected to begin in six months' time and take about a year to complete. Details on the off-taker for the project have not yet been made public.

To read PV Tech's analysis of how solar is faring in Nigeria five months into the country's new presidency, click here.

In April 2016, PV Tech's publisher Solar Media will host Solar & Off-Grid Renewables West Africa, examining opportunities in the region.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA