Africa50 to develop solar power in Nigeria

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The project includes the construction of a dedicated 132kV overhead transmission line that will connect the plant to the Dutse substation. The electricity will be sold to NBET, Nigeria's bulk purchaser of electricity, under a 20-year power purchase agreement.

Benefiting from excellent irradiation, the plant will help to alleviate Nigeria's significant power deficit and diversify the country's energy mix. This will improve energy security and provide more reliable electricity to businesses and households, contributing to Nigeria's sustainable economic growth and greenhouse gas emission reduction objectives.

"I am pleased that, a mere five months after its first annual general meeting, Africa50 is already making its first investment," said Dr Akinwumi Adesina, president of the African Development Bank (AfDB) and chairman of Africa50's board of directors. "This investment fits in squarely with one of the High 5 priorities that I laid out for the AfDB Group - to 'light up and power Africa'."

Africa50 CEO, Alain Ebobisse added: "Access to reliable energy is one of the most critical needs in Africa, including in Nigeria, where it is a government priority. I look forward to deepening the relationship with the authorities of Nigeria, one of our key shareholder countries, and to supporting more projects in this and other infrastructure sectors."