- Press Releases
June 27 (Renewables Now) - German group Soventix GmbH will develop solar projects in Nigeria under a joint venture with local construction company Gentec EPC.
The joint entity, called Soventix Hybrid Ltd, will initially focus on the development of industrial rooftop photovoltaic (PV) plants that will complement the work of existing power generators, solar project developer Soventix said on Friday. At a later point, the partners will start building solar parks that will be hooked to the national power grid.
The collaboration will help the two companies build a strong market presence in the Nigerian solar sector. The country’s solar market is considered to be one of the key markets in Africa with the highest growth opportunities. Currently, Nigeria has 12,500 MW of installed power generation capacity but just 3,500 MW-5,000 MW is normally available and the country faces rising demand for energy. Nearly 55% of the population has no electricity access.