Access Infra Africa invests in $100 million Nigerian solar project

By mahlokoane percy ngwato

Access Infra Africa, a company specialising in developing, owning and operating power assets has signed a joint development agreement with Quaint Global Energy Solutions to invest in the $100 million ABIBA Solar Project in Nigeria.

RELATED: Access Infra Africa to Bring Huge Renewable Energy Investment across Continent

This project primarily consists of a 50 MW solar power plant being developed in Kaduna state in north-western Nigeria. Once completed, it will generate 82,500 megawatt hours of clean electricity, which will be enough to meet the daytime requirements of roughly 600,000 Nigerian homes.

RELATED: Access Africa reveals two winners of $5 million renewable energy fund

This investment was initiated by Access through its co-Development Facility competition, an Africa-focused platform designed to bridge the gap between early-stage projects and the resources they require to operate.

Quaint (Nigeria) and Flatbush Solar (Cameroon) won the inaugural edition of this competition at the Africa Energy Forum in June this year.

RELATED: Access Power supports Egypt’s renewable energy future

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.”

Stay Connected! Follow @AfricaBizReview and @MrNLon on Twitter. Like our Facebook Page.

Read the November Issue of African Business Review. 

Share

Featured Articles

Top 10 most innovative telecom operators in the Middle East

With Dubai-based Telecoms World Middle East in full swing, we chart the most innovative telcos from the region – and look at how they are transforming

Top 10 fastest-growing Indian companies in the UK

Business Chief takes a look at the top 10 fastest-growing Indian companies in the UK, according to the India Meets Britain Tracker from Grant Thornton

Top 10 workplaces prioritising people and planet in the UAE

Sustainable, flexible, collaborative, tech-driven, and amenities-rich, the office of the future considers both people and planet – here are 10 in the UAE

Top 10 female HR execs leading Saudi’s workplace transition

Leadership & Strategy

Top 10 largest asset managers by AUM operating in the UAE

Corporate Finance

Top 10 female CEOs leading Africa’s biggest businesses

Leadership & Strategy