Oriental strikes 50-MW solar PPA in Nigeria

Oriental Renewable Solutions, a member of the Oriental Group, said today it has sealed a 20-year power purchase agreement (PPA) for a 50-MW solar project in Jigawa State, Nigeria.

It is one of the 12 solar schemes, totalling 1.2 GW, that recently secured off-take contracts with the Nigerian Bulk Energy Trader (NBET). The 50-MW solar park is expected to be finalised between 12 and 24 months after the developer reaches financial close.

According to local media reports, the power purchases under the 12 contracts will amount to USD 1.75 billion (EUR 1.56bn) over their terms.

The Oriental Group has formed this renewables-focused company to help address the long-term power deficit in Nigeria. Its goal is to establish a significant presence in the country's fast emerging solar power generation segment.

At present, Nigeria has 12.6 GW of installed generation capacity, but considerably less than that is available.

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