ESI AFRICA - A collaboration between Oriental Renewable Solutions and GreenWish Partners, seeks to develop a 50MW solar plant in Northern Nigeria.
The consortium released a joint statement last week, which revealed that the 50:50 equity partnership will see both firms working together to develop the solar power project, to be situated in Jigawa State.
Oriental Renewable Solutions is an investment vehicle, established to develop power projects in Nigeria and GreenWish, an investment company, that specialises in renewable energy in sub-Saharan Africa.
According to the joint release, Oriental signed a 20-year Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trader (NBET) for the Jigawa project in July 2016.
The agreement formed part of a wider NBET process to sign PPA’s to deliver 1.2GW of solar generation capacity to the country’s grid, the statement noted.
Oriental Group chairman Alhaji Dr. Muhammadu Indimi, commented: "Nigeria’s potential is hindered by the current power deficit."
Indimi added: "Oriental Group recognises the important role renewable energy can play in bridging this gap by offering up a viable alternative to oil and gas extraction. The potential impact of solar power is limitless and will cut across all sectors of the economy, reducing the cost of doing business and increasing the quality of life for Nigerians."