A new report analyzing 10 solar markets throughout Africa claims that the continent’s PV market could expand from about 5 GW at present to up to 30 GW by the end of the next decade.
The project is being developed by independent power producer Alten Africa in Kogi State, in the central region of Nigeria.
Nigeria’s Rural Electrification Agency is seeking consultants to conduct feasibility studies and develop a masterplan design for the ambitious program, which aims to establish a new energy infrastructure in the state of Jigawa. The program is backed by the African Development Bank.
The $29.8 million in funds will be used to finance the implementation of projects by Nigeria’s Ministries, Departments and Agencies towards the achievement of its commitment to the Paris Agreement.
The Nigerian industrial group was granted funds to conduct the feasibility study for the 100 MW facility by the USTDA. The plant would be built in Kano State, in the north of Nigeria, where the two companies are also planning to construct a 1 GW coal power plant.
The $1.65 million loan will be used to co-finance a 50 MW solar facility under development in Nigeria’s Kaduna State. The company expect to reach financial close for the project by the end of this year.
Nigeria’s Ministry of Power has signed two put/call option agreements with local solar developers Afrinegia Nigeria Limited and CT Cosmos Nigeria Limited. The two companies are planning to build two PV plants with a combined capacity of 120 MW.
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