A Paris-based independent power company, GreenWish Partners has revealed its plans to boost the Nigerian power sector by investing the sum of $280 million.
The power company which disclosed its plan to start production of power through the construction of solar-power plants in strategic locations in the country disclosed through its Chief Executive Officer, Charlotte Aubin-Kalaidjian, that the project will kick off in the first quarter of next year.
Charlotte Aubin-Kalaidjian while speaking during an interview in Lagos noted that a first power plant will be built in Enugu state while other plants will subsequently be constructed in Northern states including Kaduna and Jigawa states.
The Enugu power plant is projected to produce 100 megawatts while the Kaduna and Jigawa plants will produce 50 megawatts each.
Charlotte Aubin-Kalaidjian revealed that the project which will serve 2.5 million Nigerians and will be funded 70 percent through debt and 30 percent through equity.
Speaking during the interview, the Chief Executive Officer said: “We only take risks where solar makes sense, where it is competitive and where there is political support.”
“This government is very committed to developing power and renewables, especially in regions where there is no gas available.”
The intervention comes following the increasing epileptic electricity condition which has plagued the country as Nigeria is faced with an energy shortfall pegged at 8,000 Megawatt.