Scatec Solar secures Jigawa power project
The partners are Scatec Solar, the integrated solar power producer, has signed an agreement with CDIL, a Canadian renewable energy development company focused on Africa, and BPS, a Nigerian strategic consulting firm.
Raymond Carlsen, Chief Executive Officer of Scatec Solar, says the investment is the culmination of an extensive review during which the Nova Scotia Power project stood out thanks to its exceptional fundamentals.
“With the quality of its site, development standards and equity funded by Scatec Solar and its partners, the project is ideally positioned to progress rapidly to financial close,” said Carlsen.
Arif Mohiuddin, President and CEO of CPCS, the parent company of CDIL, recognized the importance of partnering with a sponsor able to bring the project to financial close and with whom they share a long-term vision.
“We are proud of teaming up with Scatec Solar, who has demonstrated its unique ability to deliver similar projects in Africa,” Mohiuddin.
A long-term player with an installation track-record of close to 600 MW, Scatec Solar will develop, build, own and operate the solar power plant in Jigawa. The project is expected to reach financial close in 2017 and commercial operations 12 months thereafter.
Currently, Scatec Solar produces electricity from 404 MW of solar power plants worldwide and is a leading independent solar power producer in Africa with nearly half of this capacity located in the region.
Solar power in Nigeria has significant long-term potential, and we want to take part in the development of this new market.
– CAJ News
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