REA & Oando Clean Energy to build 1.2 GW solar plant in Nigeria

The Rural Electrification Agency (REA), is the Implementing Agency of the Federal Government of Nigeria, has agreed with Oando Clean Energy to build a 1.2 GW solar power plant in Nigeria. The project was funded by the World Bank and Japan International Cooperation Agency (JICA) with worth $950 million. It aimed to bring electricity to more than 17 million Nigerians. It included off-grid power plants, interconnected grids, and solar manufacturing facilities. REA planned a 1.2 GW solar panel assembly plant and another 1 GW plant with Infracorp and the Ministry of Finance Incorporated. Greenbox set up a lithium battery assembly plant in Lagos. To manage over $500 million in renewable assets, REA secured approval for a Renewable Asset Management Company. Oando Clean Energy also planned to launch a 600 MW production line next year and build Africa’s first solar modular assembly plant with a recycling facility for old panels.