Access to invest in $100 million nigerian solar project
Access Infra Africa ('Access'), signs a joint development agreement with Quaint Global Energy Solutions
Abuja, NIGERIA: On November 10, 2015, Access Infra Africa ('Access'), signed a joint development agreement with Quaint Global Energy Solutions ('Quaint') to invest in the $100 million ABIBA Solar Project, a 50 MW solar power plant being developed in Kaduna state.
Once completed, this solar power plant will generate 82,500 megawatt hours of clean electricity, enough to satisfy the daytime requirement of over 600,000 Nigerian households.
This landmark investment was originated through the Access Co-Development Facility ('ACF') competition, an innovative Africa-focused platform designed to bridge the gap between early-stage renewable energy projects and the resources they require to become operational.
ACF was launched earlier this year by Access and attracted 55 competitive entries from 18 countries. Quaint from Nigeria and Flatbush Solar from Cameroon were declared the winners of the inaugural edition of this competition at the Africa Energy Forum in June 2015.
The 2016 edition will be formally launched on February 18, 2016 in Amsterdam leading up to the final round of selection at the Africa Energy Forum in June 2016 in London.
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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