Access Infra Africa invests in $100 million Nigerian solar project
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.
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.
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.
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.”