SkyPower FAS Energy signed agreements with the Federal Government of Nigeria and the Delta State Government for the development, construction and operation of the projects at an estimated cost of $5bn.
The projects will be financed through a combination of bank debt, development financing, and equity funding, the JV said,
It is claimed that more than 30,000 jobs will be created in Nigeria by the huge solar venture – which is among the most ambitious yet announced in Africa – with the first phase of commercial operation expected to start in 2015.
SkyPower Global is majority owned by CIM, a property and infrastructure investment group.
