Nigeria’s energy generation has risen from 2,500 megawatts to 3400 megawatts in the last two months.
Weekly Analysis of power generation by the Nigeria Electricity Regulatory Commission shows a steady improvement.
The data showed that most of the power generated were from hydro plants as activities of vandals still cost the country about 4000 megawatts gap in energy generation.
The weekly data showed that over the last two months, peak generation have risen from 2500MW to over 3400MW while Energy sent out from power stations have moved from about 52000MWh to over 73000MW.
Power Purchase Agreement
Meanwhile, Scatec Solar has signed an agreement with the Canadian renewable energy development company in conjunction with a Nigerian strategic consulting firm to secure the 100 MW Nova Scotia Power plant located in Jigawa State, Nigeria.
The Nova Scotia project company signed a 20-year Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trading Plc (NBET) on July 21st, 2016.
A statement by Scatec Scolar quotes its CEO Raymond Carlsen as saying that “Solar power in Nigeria has significant long-term potential.”
“We want to take part in the development of this new market. This 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 towards a close down,” Carlsen said.
The statement adds that:”Scatec Solar will develop, build, own and operate the solar power plant in Jigawa while the project is expected to reach financial close in 2017 and commercial operations to begin 12 months thereafter.”