20th April 2017
50MW solar plant for fragile state in Nigeria planned
PIDG company InfraCo Africa signs a convertible loan agreement to co-finance the development of Abiba Solar
Abiba Solar will help stabilise electricity supply for Nigerians and increase the role of renewables in the country.
This landmark investment was originated through the Access Co-Development Facility (ACF) inaugural competition. The ACF is a financial support mechanism designed by Access Power to provide local project developers and originators with the technical experience, expertise and funding required to bring renewable energy projects to life - the first crowdsourcing origination platform of its kind.
InfraCo Africa executive director Alex Katon said: “Developing strong replicable relationships with organisations like Access Power enables us to multiply our impact and, by sharing risk, accelerate private sector development of infrastructure.
“Abiba Solar demonstrates our commitment to developing infrastructure in fragile and conflict-affected locations.”
The project will construct a ground-mounted 50MW solar PV plant at Manchok, Kaduna State, and the plant will supply much-needed clean power to Nigeria’s national grid.
Abiba Solar, which InfraCo Africa will commit $1.65m to, will be Kaduna’s first privately developed renewable power plant and its first solar project.
Reda El Chaar, executive chairman of Access Power, 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 designed to turn good concepts into bankable projects.”
In spite of Nigeria’s large oil reserves and strong economic growth in recent years, around 93 million Nigerians still lack access to electricity.
Once completed, Abiba Solar will generate 82,500 megawatt hours of clean electricity, enough to satisfy the daytime requirement of more than 200,000 Nigerian households.