PSRP Says NBET to Close Deals With Only Credible Solar Plant Developers

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A policy reform document and its action plans for the period of its execution, indicates that only serious or credible developers amongst the 14 that signed power purchase agreements (PPAs) for solar power plants in the country, would conclude extant deals with the Nigerian Bulk Electricity Trading Plc (NBET) to go on with their projects, OGN reports.

Nigeria’s Power Sector Recovery Programme (PSRP) was developed by the country and the World Bank to revive her ailing electricity industry. In it, an aspect that concerns the country’s decision to diversify her energy mix, stated that the government will, “finalise negotiation with credible on-grid solar project developers amongst the existing 14 projects in discussion with NBET.”

It also stated that the NBET would determine the competitive bidding process it would use to meet its procurement of renewable energy generation sources in line with the National Renewable Energy Policy which seeks to procure up to 2000 megawatts of electricity to the national grid from solar, wind and other renewable energy sources.

Source: Energy Mix Report

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