Oriental Renewable Solutions (Oriental), an Oriental Group company, has signed a 20-year, Power Purchase Agreement (PPA) with the Nigerian Bulk Energy Trader (NBET) for the company’s 50MW solar power project in Jigawa State, The Guardian reports.
The agreement forms part of a wider NBET process to sign up PPAs to deliver 1.2GW of additional generation capacity to the Nigerian grid through a total of 12 solar power projects spread across Nigeria. Oriental Renewable Solutions was established to deliver on the potential that renewable energy offers Nigeria to address a long-term power deficit that continues to hold back economic growth.
The Jigawa project marks the first project in a broader strategy to establish a significant footprint in Nigeria’s fast emerging solar power generation segment. The project is expected to be completed between 18 and 24 months of financial close.
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