- US $110m
About the Project
This landmark investment originated through the Access Co-Development Facility ('ACF') inaugural competition round in 2015. The ACF is an innovative financial support mechanism designed by Access Power to provide local project developers and originators with the technical experience, expertise and funding required to bring their renewable energy projects to life.
As the first crowdsourcing origination platform in operation of its kind, the ACF is at the forefront of an exciting new concept and Access Power is working closely with international partners such as InfraCo Africa to further support renewable energy projects procured through ACF.
The project will construct a 50MWAC ground-mounted solar PV facility to integrate with existing grid infrastructure. The plant will be built on a 150ha site at Manchok in Nigeria's Kaduna State. It is anticipated that Financial Close will be achieved in late 2017.
Once completed, this solar power plant will generate 82,500 megawatt hours of clean electricity, enough to satisfy the daytime requirement of over 200,000 Nigerian households.
Nigeria is Africa's most populous country, with a population in excess of 175 million people. In spite of strong economic growth in recent years, access to basic services, including electricity, has been hampered by limited infrastructure and ongoing security and fuel supply issues.
Nearly 100 million Nigerians lack access to modern electricity and rely upon kerosene and traditional biomass for cooking and lighting.
In a bid to address the country's power deficit, the Government of Nigeria has privatised the energy sector, creating an enabling environment for private investment and leadership. Nigeria's Renewable Energy Master Plan (2006) identifies the importance of exploring the potential of renewables in the country's energy mix. The Plan specifically acknowledges the potential of Nigeria's high solar irradiation levels, setting an ambitious target of 500MWp of solar power generation by 2025.
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