The Nigerian Bulk Electricity Trading Company Plc (NBET) said that it has approved an entry price of 11.5 cents (N30) per kilowatts hours (kWh) as the entry price for the 14 pioneer solar power stations set to be built in Nigeia, Thisday reports.
The 14 solar power plants will generate 1,125 megawatts (MW) of electricity collectively which will be distributed to the grid through a stepped down transmission network to enable them to minimise levels of transmission losses.
Mr. Waziri Bintube, acting Managing Director of NBET, stated this before signing the PPAs with the investors in Abuja recently.
He said the entry price was negotiated down from 23 cents per kWh in 2015 to the current level that was acceptable to all the parties.
Bintube further said that $1.75 billion is expected to be spent in construction of the plants by the investors and the deadline for the plants to come on stream would be 18 months from when the project starts.
The country generates most of its electricity from gas-fired power plants, while output from hydro-power plants makes up about 30 per cent of total generation. But the nation’s electricity woes have worsened in recent months on […]
Over the weekend Electricity distribution companies approached the National Assembly not to cancel the proposed N309 billion bond to the power sector, The Guardian reports. Government should have given some funds to cover the cost […]
The 11 Electricity Distribution Companies (AEDC) in Nigeria are yet to meter about 2.9 million households since they began operating the network on November 1, 2013. Nigerian Electricity Regulatory Commission (NERC) made this disclosure […]