Integrated independent solar power producer Scatec Solar, has secured rights to facilitate the 100 mega watts (DC) Nova Scotia Power plant in Jigawa state.
The firm signed an agreement with CDIL, a Canadian renewable energy development company and BPS, a Nigerian strategic consulting firm to handle the project.
The agreement is announced in connection with Scatec Solar’s second quarter results.
According to a statement by the Media Contact of Scatec Solar, Mr Mikkel Tørud, on Tuesday in Abuja, the Nova Scotia project company signed a 20-year Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trading Plc (NBET) on July 21.
Mr Raymond Carlsen, Chief Executive Officer of Scatec Solar, said solar power in Nigeria had a significant long-term potential, and the company wanted to take part in the development of the 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”.
Mr Arif Mohiuddin, President and CEO of CPCS, the parent company of CDIL, also said that partnership was important to complete the project.
“We recognise the importance of partnering with a sponsor able to bring the project to financial close and with whom we share a long-term vision.
“We are proud of teaming up with Scatec Solar, who has demonstrated its unique ability to deliver similar projects in Africa.’’
The statement said that the company was a long-term player with an installation track-record of close to 600 mega watts which would develop, build, own and operate the solar power plant in Jigawa.
It also said that the project wa expected to reach financial close in 2017 and commercial operations 12 months thereafter.