14 Solar IPPs Failed to Secure Funding, Must Restrategise – Fashola

Solar Projects

The Power, Works and Housing Minister, Babatunde Fashola said in a January 23 interview that a number of planned solar power projects have failed to secure funding and should be reassessed, Bloomberg reports.

State-controlled Nigeria Bulk Electricity Trading Plc signed preliminary power-purchase agreements in 2016 with private companies for 14 solar projects meant to generate 1,125 megawatts of electricity, but there have been issues over payment-related guarantees, Fashola said.

These should be redesigned to sell electricity not only to the government via the national grid but to customers in remote areas directly, according to the minister. “They should rethink their models and begin to look at estates and communities,” he said.

Source: Energy Mix Report

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