A joint venture consisting of Scatec Solar, an independent solar power producer, CDIL, a Canadian renewable energy development company focused on Africa, and BPS, a Nigerian strategic consulting firm, has signed a 20-year Power Purchase Agreement, with Nigerian Bulk Electricity Trading Plc (NBET).
The agreement relates to the 100 MW Nova Scotia Power Plant in Jigawa State, Nigeria.
Speaking on the agreement, Scatec Solar CEO, Raymond Carlsen said:
“Solar power in Nigeria has significant long-term potential, and we want to take part in the development of this new market. This investment is the culmination of an extensive review during which the Nova Scotia Power project stood out thanks to its exceptional fundamentals. With the quality of its site, development standards and equity funded by Scatec Solar and its partners, the project is ideally positioned to progress rapidly to financial close”.
With an already successful track record of nearly 600 MW, the company will develop, build, own and operate the power plant in Jigawa, with commercial operations due to conclude in 2018.