Portfolio
Kano Solar Project
- Ongoing progress on:
- Kano Solar Project
Project Details
Sector
Power
Participants
Nigeria Sovereign Investment Authority
Federal Government of Nigeria
Kano State Government
Kumbotso Local Government
Commencement Date
Q4 2022
States
Kano
NSIA was appointed by the President of the Federal Republic of Nigeria, in a letter dated December 12, 2018, to assume the role of Funds and Project Manager for the development and construction of a 10MW FGN/Kano Solar Project.
NSIA was tasked with the responsibility of:
- Creating a special purpose vehicle (“SPV”) – Haske Solar Company Ltd – with the following ownership structure: Federal Government of Nigeria with 80%, Kano State Government with 15%, and Kumbotso Local Government with 5%.
- Undertaking project development activities (including environmental impact assessment, basic engineering, and designs of the plant, load flow studies, energy yield studies, geotechnical & physical studies, and legal contracting).
- Procurement of a construction and operations contractor.
- Construction of the plant.
- Operationalization of the Project.
| Impact | Remarks |
|---|---|
| Job creation | The project is expected to create at least 500 direct and indirect jobs across the construction and operational phases of the project. |
| Access to clean energy | Solar power is one of the cleanest, most sustainable and environmentally friendly sources of energy. The 10MW plant will augment the existing supply from the grid. |
| Spur growth | The availability of steady power can spur socio-economic growth in the immediate area, as well as the state as a whole. |
| Increase the revenue base of the state | An increase in economic activity, driven by sufficient power, will provide the state with added internally generated revenues in the form of taxes and other levies. |
| Model for replication | The successful implementation and operation of this solar plant will form a template for other similar projects across the country. |
PARTNERS
How the fund is invested
$15 million
Project Cost / Size:
10MW FGN
NSIA’s interest:
100% equity funding
Funding structure
15
Investment areas
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