FG Revives $2.5bn Solar Power Projects, Extends Deadline for Agreement

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1282ae79 hybrid solar FG Revives $2.5bn Solar Power Projects, Extends Deadline for Agreement

Chineme Okafor in Abuja

There are strong indications that private investors that will construct 14 solar independent power projects (IPPs) across the country at a cost of $2.5 billion will soon make their Final Investment Decisions (FIDs) as the federal government has extended the deadline for the expiration of the investors’ Put Call Option Agreements (PCOAs) till January 2019 to enable the project developers to wrap up their investments plans, THISDAY has learnt.

The investors in the 14 solar IPPs signed Power Purchase Agreements (PPAs) with the Nigerian Bulk Electricity Trading Plc (NBET) in July 2016.

THISDAY gathered that the investors could not proceed with the projects following concerns raised by the federal government over the high tariffs embedded in the PPAs.
While the project developers were said to have proposed to build the…



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