Financial Viability Analysis of 1,000MW Solar PV Plant in Jigawa ,Nigeria

Nigeria has agenda 30:30:30 aimed at generating 30W of electricty from Renewable energy making 30% of total energy mix by 2030. The proposed 1,000 MW solar Park to be situated in Jigawa state, Northern Nigeria will contribute to achieving this target. This study assessed the financial viability of the 1,000MW plant as a cheap source of electricity and also assessed possible impact of exchange rate and capacity utilization on the viability of this project. The study showed that selling electrcity as low as 10 naira per kilowatts hour, the plant is profitable at 10 naira per kilowatts of electricity tariff at various utilization capacity(25, 17, 15%) with reduction in exchange rate(10% annually). however, Even with a steady exchange rate under worst capacity utilization (15%) as shown in the second case, it was not profitable at 10 naira/kwh with: NPV= -2.93, IRR=0 %