Nemoante of Nigeria and Green Continent Partners of Germany have signed an Agreement with Mainstream Energy Solutions of Nigeria to develop large scale Solar Power Plants on close proximity to Jebba and Kainji Dam, two of Nigeria’s largest hydro electric facilities in Niger State. The developers also have an agreement with Niger State for future developments.
Mainstream Energy Solutions Limited is a Power Generation company, operating the Kainji and Jebba Hydro Power Dams following the privatization of the Nigerian Power sector, under a 30-year concession agreement with the Federal Government. Mainstream therefore has access and rights to large land sites in the immediate vicinity of the Dams that can be used to operate large-scale grid connected Solar Power plants. Mainstream Energy Solutions is therefore commitment to excellence in power generation which is fundamental to its corporate philosophy and culture. The company is very committed to the vision of becoming a world class power generation company, a company driven by the desire to improve the living standards of the people.
Nemoante and Green Continent Partners started to develop Renewable Energy projects in Nigeria in 2012 and signed PPP agreements with Niger and Kogi State government in the middle belt of the country. Where there are excellent transmission, good logistics/security, complementary generation, available land, good energy yields and load centers. The spearhead project of both companies is “Middle Band Solar One”, a 100 MegaWatt fully licensed and developed project in Kogi State. This project is one of the most well developed Solar PV projects in Nigeria issued with a NERC on-grid generation license and an executed Power Purchase Agreement with NBET, an agency of the Federal Government of Nigeria. IFC, a member of the World Bank group, is a co-developer of this project. The project aims for Financial Closing and construction in 2017.
Mr. Erabor A. Okogun, Managing Director from Nemoante: “We are a leading Project Developer in the region and our steep industry learning curve, innovative project structuring and financing expertise enables us to partner with bankable industrial partners and to build world class Power projects not only to increases the country’s energy supply but also helps mitigate climate change.” Nemoante is the only indigenous IFC development partner for projects of this kind in Nigeria.
Mr. Arjen Pen, CEO from Green Continent Partners, “the available land around the Hydro dam sites in Jebba and Kainji benefit from excellent grid connection points to the national grid of TCN as they will use the same substations as the Hydro Electrical dams, who are currently a significant backbone of base-load power supply in Nigeria. The concept of blending two renewable energy sources (water and sun) is very exciting”.
About Nemoante Limited
- Nemoante is from Latin: To boldly go where no one has gone before (Ad eundum quo nemo ante iit)
- Set up by Mr. Erabor Okogun in 2014 as dedicated vehicle with a very experienced and international team
- HQ in Lagos with a presence in Abuja, Cape Verde and Accra.
- Galvanized to take advantage of opportunities in Project Development and Public Private Partnerships (PPP) from conceptualization, transaction management/documentation through to fund raising and execution
- Nemoante has strong strategy and analytical skill ets and keen sense of local and global transaction dynamics and revenue modelling
- Nemoante is currently incubating/developing exciting opportunities, Energy (Upstream oil &gas and Power) in Nigeria and Ghana and the originator of the Solar PV strategy focused on central Nigeria.
- Partners and Shareholders include:
- Signal Alliance Limited – A Systems Integrator
About Green Continent Partners GmbH
- Established in 2010
- Dedicated to developing renewable energy projects in Africa
- Pipeline projects in South Africa, Namibia, Senegal, Nigeria
- Joint venture with Nemoante Limited of Nigeria, to start green field Solar PV developments in Niger and Kogi State initially to be expanded to other states once the first projects become online
- Headquartered in Munich, Germany, additional project management office in South Africa and France
- Equity partners:
- Michael Stoeltzing, Director Development Southern Africa
- Arjen Pen, CEO and personally responsible for Nigeria
- Christian Mayert, consulting shareholder and Director at Macquary Germany
- All shareholders have a strong track record of doing business in Africa and in numerous industries