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International Finance Corporation (IFC) and Alten Middle Band Solar One have agreed to jointly develop a 120MW solar photovoltaic power project in Kogi State, Nigeria
Alten has signed the agreement with a consortium of power plant developers such as Green Continent Partners Holding B.V. and Nemoante.
The Kogi State plant will supply power to around 175,000 individuals as well as industrial clusters. “Under the agreement, IFC InfraVentures and IFC’s Global Infrastructure Project Development Fund will provide development funding and commercial and technical support to a developer consortium to co-develop the solar power project via the Middle Band Solar One project company,” said the company.
Touted as IFC’s first solar project in Nigeria, the Kogi State plant is expected to allow Nigeria to fast-track its strategy of diversifying its energy mix, said IFC country manager Eme Essien Lore.