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GreenWish Partners

GE To Set Up 500 MW Solar Power Capacity In Nigeria

written by saurabh

General Electric has become the latest foreign company to jump on the solar power bandwagon in Nigeria.

According to media reports, General Electric has signed memorandum of understanding with Nigeria to set up five solar power projects of 100 MW capacity each in the west African country. These projects shall come up in the states of Borno, Kebbi, Nassarawa, Niger and Taraba.

Over the last few months several foreign companies have either directly or in partnership with local firms signed agreements to set up large-scale solar power projects in Nigeria.

In July, Nigeria Bulk Electricity Trading (NBET) signed the first power purchase agreements with solar power project developers. The NBET signed 12 PPAs with projects of 975 MW cumulative capacity. The developers shall sell power from these projects at US¢11.5/kWh for a period of 20 years.

A joint venture between Nigeria-based Nigus Greenergy and South Africa-based Volt Renewables signed an agreement to set up 300 MW solar power capacity. Paris-based investment company GreenWish Partners and Dubai-based Phanes Group separately signed deals to install 100 MW and 300 MW solar power capacity, respectively.

The development of solar power projects in Nigeria has full support and regulatory backing of the government. Last year, the Nigerian Electricity Regulatory Commission approved feed-in tariff regulations for renewable energy sourced electricity. As per the provisions of the regulations, electricity distribution companies will be required to source at least 50% of their total procurement from renewable energy sources. The Commission has also mandated that the balance 50% electricity would have to be sourced from Nigerian Bulk Electricity Trading Company.

11/30/2016 0 comment

Renewable Energy

First Utility-scale Solar Power Project In Senegal Commissioned

written by saurabh

Senegal has commissioned its first utility-scale solar power project, possibly paving way for increased investment in the country’s renewable energy sector.

Paris-based investment company GreenWish Partners has announced that it commissioned a 20 MW solar power project in northern Senegal. The company claims that, apart from being the first utility-scale solar power project in the country, it is also the first solar IPP project commissioned in West and Central Africa.

The project was developed by Vinci Energies in less than eight months. The generation cost of the project is reported to be less than than of the country’s overall energy mix. GreenWish claims that the power generated from the project will offset 25,000 tonnes of carbon dioxide emissions and also bring-in $4.9 million savings for the government every year.

The Senegalese Sovereign Fund holds 45% stake in the project and the 2% of the project revenue and all carbon credits generated from the project shall be allocated to the local communities.

Earlier this month, GreenWish also announced plans to set up projects in Nigeria as well. The company stated plans to implement two solar power projects of 50 MW capacity each in northern Nigeria. The total investment for the projects is expected to be around US$130-150 million. The projects are expected to be commissioned next year.

10/31/2016 0 comment

Renewable Energy

GreenWish Plans 100 MW Solar Power Capacity In Nigeria

written by saurabh

A Paris-based investment company has announced plans to set up utility-scale solar power projects in Nigeria.

GreenWish Partners, an investment company working in the renewable energy sector in sub-Saharan Africa has announced that it will se tup two solar power projects of 50 MW capacity each in northern Nigeria. The total investment for the projects is expected to be around US$130-150 million. The projects are expected to be commissioned next year.

These projects will likely be GreenWish’s first foray into the utility-scale solar market in Nigeria. The company already operates off-grid solar power sites for banks and telecom towers.

GreenWish CEO Chief Executive Officer Charlotte Aubin-Kalaidjian stated that Nigeria is an apt place to develop solar power projects due to high resource availability, increasing power demand, over-dependence on fossil fuels and the governmental support for development of renewable energy resources.

A number of companies recently signed agreements with the Nigerian government to set up utility-scale solar power projects. Nigeria Bulk Electricity Trading signed long-term agreements for more than 1,000 MW of solar power projects.

10/26/2016 0 comment

Renewable Energy

Investment Firms Plan 600 MW Renewable Energy Installation In Africa

written by saurabh

More foreign investors are being attracted to the emerging renewable energy markets in Africa.

Private equity company Denham Capital and renewable energy company GreenWish Partners have signed an agreement to finance and develop renewable energy projects across Africa. The cumulative capacity of these projects will be 600 MW.

The two companies will target sub-Saharan countries and markets where renewable energy projects are competitive without subsidies.

GreenWish is currently in the process to implement a 20 MW solar PV project in Senegal. The project is expected to be operational by October this year and will provide electricity to over 180,000 people the west-African country. The project is likely part of the first tranche of the 600 MW planned capacity. The first tranche will see implementation of 150 MW capacity.

“(We are) looking at both on and off-grid projects in a number of countries and aims at offering B2B solar hybrid solutions to energy intensive industries, including telecom operators, mining, and commercial off-takers,” GreenWish’s chief investment officer Parmentier said.

Denham Capital is a leading energy and resources-focused global private equity firm with more than $8.4 billion of invested and committed capital. The company has invested in several renewable energy companies including Rio Energy, BioTherm Energy, Fotowatio Renewable Ventures and Greenleaf Power.

Photo courtesy of vectoropenstock.com for CleanTechies

06/26/2016 0 comment