Scatec Solar’s 100MW Nigeria PV project nets financing from new investors

December 19, 2016
Facebook
Twitter
LinkedIn
Reddit
Email
The 100MW project has netted that all important financial backing. Source: Scatec Solar

Norwegian solar developer Scatec solar has secured investment for its 100MW Nova Scotia solar PV plant in Dutse, in the Northern Nigerian state of Jigawa.

Funding has come from equity investors Africa50, a local infrastructure fund sponsored by the AfDB, and Norfund, Norway’s development bank, who all signed a Joint Development Agreement (JDA) with Scatec.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

In addition, OPIC, the Islamic Development Bank and AfDB are expected to be senior debt providers for the project.

A signing ceremony for the launch of the JDA was held today and attended by Børge Brende, the visiting Norwegian foreign minister, Ibrahim Hassan Hadejia, deputy governor of Jigawa State, as well as officials from the Nigerian Bulk Electricity Trading among others.

“New local power generation capacity is a key element to attract sizeable investment into the State and region, especially into new industries such as light manufacturing and agricultural processing” said Hadejia, at the ceremony.

“The formation of this consortium is a strong symbol of the Norwegian and Nigerian commitment to invest in clean energy in Nigeria. With the Government of Norway taking a direct investment role through Norfund, significant regional and Nigerian ownership through Africa50, and the track-record of Scatec Solar, this offers one of the most solid partnerships for solar PV projects globally,” said executive vice president Terje Pilskog who signed the JDA on behalf of Scatec Solar.

At a production rate of 200,000MWh of annual electricity, the 100MW Nova Scotia project ranks as one of Nigeria’s biggest renewable energy ventures. 

Read Next

October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 16, 2025
Off-grid solar company Sun King has revealed plans to set up manufacturing operations in Kenya and Nigeria.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
September 22, 2025
The Rural Electrification Agency (REA) of Nigeria has announced plans to build a 1GW solar module manufacturing facility in the country.
September 2, 2025
Scatec has signed a 15-year power purchase agreement (PPA) with BTG Pactual Comercializadora de Energia to develop a 130MW solar project in Colombia.
August 19, 2025
Scatec has reported stable financial results in the second quarter of 2025, with revenue holding steady at NOK2.3 billion (US$220 million).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK