Jigawa attracts USD150Million Solar Power Investment

Jigawa attracts USD150Million Solar Power Investment

by investjigawa_admin

The Nova Scotia solar power plant is due to help Nigeria rapidly increase its generation capacity, with an estimated investment of US$150mn, 200,000 MWh of electricity produced and around 120,000 tons of C02 emissions avoided

Scatec Solar has signed a Joint Development Agreement with Africa50 , securing investment into the Nova Scotia power plant, located in Dutse, Jigawa, Nigeria. Africa50 are an African Infrastructure Fund sponsored by the African Development Bank and more than 20 African States and Norfund, the Norwegian Investment Fund for Development Countries.

The Joint Development Agreement was signed at a ceremony, held in the presence of Børge Brende, Norway’s foreign minister, His Excellency, Barrister Ibrahim Hassan Hadejia, deputy governor of Jigawa State, as well as officials from the Nigerian Bulk Electricity Trading.

“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 His Excellency the Deputy Governor.

“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.

Source: Africabusiness.com