The Nigeria Bulk Electricity Trading Plc, NBET, has said 14 investors are working to generate 1,125megawatts (mw) electricity from solar technology.
The acting Managing Director of NBET, Mr Waziri Bintube, who revealed this, said the project was worth $1.75billion (about N521.9billion) and expected to produce power in 2017.
Bintube said this on Thursday, July 21, in Abuja when he signed the Power Purchase Agreements (PPAs) with the contractors of the projects spread in 10 states.
He gave reasons for citing 13 of the plants in the North, saying that solar energy generation was highest in Northern Nigeria.
“The PPAs after initialing were sent to the regulatory agencies for approval. The necessary approvals have been obtained and we are here today to formally sign the PPAs,” he said.
He said that the bankable PPAs would help developers source for fund and start construction in a few months, adding that the solar projects would cushion effects of outage caused by gas pipelines vandalism.
