Access to invest in $100m Nigerian solar project
Access Infra Africa on Tuesday signed a joint development agreement with Quaint Global Energy Solutions to invest in the $100-million Abiba Solar Project, a 50 MW solar power plant being developed in Nigeria’s Kaduna state.
Access, a Pan-African developer, owner and operator of power assets, said once it was completed the plant would generate 82 500 MWh of clean electricity, enough to satisfy the daytime requirement of more than 600 000 Nigerian households.
This investment was originated through the Access Co-Development Facility (AC) competition, an Africa-focused platform designed to bridge the gap between early-stage renewable energy projects and the resources required for them to become operational. Launched earlier this year by Access, ACF attracted 55 entries from 18 countries.
Quaint from Nigeria and Flatbush Solar from Cameroon were declared the winners of the inaugural competition at the Africa Energy Forum in June.
Speaking at the 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.”
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