Portfolio

Kano Solar Project

Project Details

Sector

Power

Participants

NSIA
FGN
Kano State Government
Kumbotso LGA

Commencement Date

Q4 2022

States
Kano

NSIA was appointed by the President of the Federal Republic of Nigeria, in a letter dated December 12, 2018, to assume the role of Funds and Project Manager for the development and construction of a 10MW FGN/Kano Solar Project.

NSIA was tasked with the responsibility of:

  • Creating a special purpose vehicle (“SPV”) – Haske Solar Company Ltd – with the following ownership structure: Federal Government of Nigeria with 80%, Kano State Government with 15%, and Kumbotso Local Government with 5%.
  • Undertaking project development activities (including environmental impact assessment, basic engineering, and designs of the plant, load flow studies, energy yield studies, geotechnical & physical studies, and legal contracting).
  • Procurement of a construction and operations contractor.
  • Construction of the plant.
  • Operationalization of the Project.

 

Impact  Remarks 
Job creation The project is expected to create at least 500 direct and indirect jobs across the construction and operational phases of the project.
Access to clean energy Solar power is one of the cleanest, most sustainable and environmentally friendly sources of energy.  The 10MW plant will augment the existing supply from the grid.
Spur growth The availability of steady power can spur socio-economic growth in the immediate area, as well as the state as a whole.
Increase the revenue base of the state An increase in economic activity, driven by sufficient power, will provide the state with added internally generated revenues in the form of taxes and other levies.
Model for replication The successful implementation and operation of this solar plant will form a template for other similar projects across the country.

PARTNERS

How the fund is invested

$15 million

Project Cost / Size:

10MW FGN

NSIA’s interest:

100% equity funding

Funding structure

15

Investment areas

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