Motir DuSable Power Investment Limited , a renewable energy company said it has signed a landmark contract with Nigerian government towards planning and building a 100 Megawatt (MW) solar plant in Enugu State.
The company said it was awarded a generation license from the Nigerian Energy Regulatory Commission (NERC) for up to 300MW and has completed all of its required technical studies on the electricity grid and the power plant site. Motir DuSable has concluded negotiations of a 20-year Power Purchase Agreement (PPA) with the Nigerian Government and is prepared to execute the transaction.
In addition, Motir DuSable has entered into a Memorandum of Understanding (MOU) with a global solar firm, Martifer Solar, to develop the current project and provide technical support. Martifer is a Portugal-based Development, EOC, and O&M company with presence in over 20 countries throughout 4 continents and has implemented 700 MW of solar power around the world. The company has been present in the solar market in Africa since 2010. Henrique Rodrigues, CEO of Martifer Solar, said, “We are pleased with this opportunity to expand our growing presence in developing the African market. This grid-connected solar plant will help address Nigeria’s persistent power outage challenges and growing power needs.”
“Motir DuSable is poised to invest $200 million into Nigeria for one of the country’s first utility-scale solar power projects. This investment will power millions of homes, create 21 st Century jobs and fuel economic growth for decades to come,” said Motir DuSable Managing Director Shomik Dutta. Motir DuSable is a Nigerian and American power development firm with offices in Abuja and Washington, DC.
Motir Dusable is backed by DuSable Capital is a Washington, DC-based firm with a focus on making investments in renewable energy and infrastructure projects. DuSable is a developer of utility-scale solar plants in Asia and Africa and has been awarded over 1,500 Megawatts of power in both continents since inception. DuSable’s team features deep financial, technical, and regulatory expertise in pursuit of large renewable energy projects around the world.
DuSable said it leverage a socially responsible approach to its investment projects, seeking to maximize job-creation and sustainability while also securing attractive returns for investors.
Power is one of the major challenges confronting Nigeria. The country’s total generation capacity via natural gas and water is not more than 15,000MW. The country will have to diversify its energy source into more renewable sources to scale and meet its demands.
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