The Memorandum of Understanding (MOU) was signed Thursday at the office of Secretary to the state government Alhaji Usman Alhaji in Kano.
The investors plan to pour over USD 150 million (EUR 127.4m) in the solar project called the Dangote –Black Rhino scheme. The complex will be situated in Kano, the biggest city in northern Nigeria.
Speaking during the signing ceremony, Dangote Group’s CEO Mansur Ahmed said that discussions with the local community will be initiated next week, while the actual development could begin before end-2017. Work on the project with relevant government agencies and community leaders is seen to start immediately.
The project is in line with Dangote Group’s plan to support the economic development of Kano state, the CEO added. In April, the Nigerian group was awarded a grant by the US Trade and Development Agency (USTDA) to conduct a feasibility study for assessing the local transmission system’s capacity and stability in relation to the solar scheme.