Our sister company, Magnifique Integrated Concepts Limited signed a landmark strategic collaboration agreement with https://www.genesisenergygroup.net/ on the deployment of a 200MW solar hybrid plant in Abuja, Nigeria in a project that is estimated to cost over $250 million (USD).

From Left: Managing Director/CEOChief of Magnifique Integrated Concepts Limited, Mr Idong Nkereuwem, Chairman & CEO of Genesis Energy Group, Akinwole Omoboriowo II, Executive Director /COO Magnifique Integrated Concepts Limited, Mr Kayode Ahmeed Babatunde. 

Genesis energy group are Africa’s Prime Impact Investor. They have invested over US$150M in climate impact projects and secured US$38M through USAID, the largest energy infrastructure bond in Nigeria and first ever credit enhancement provided by the US government in Africa.

The project is expected to take off by the end of May 2024 with a ground breaking ceremony  expected to be chaired by the Minister of FCT Barrister Nyesom Wike.

The project was conceptualized by the Abuja Technology Village with a Power purchase agreement with the Abuja Smart Grid Limited. When Completed, it will provide clean energy to Abuja Technology Village and companies and Institutions around the Idu Industrial Area. All drawings, land and evacuation plans have been completed. With the signing of this agreement, Genesis Power and Energy solutions Limited https://www.genesisenergygroup.net/will finance the design, engineering, procurement, construction, operation and maintenance of the Projects.

ATV Special Economic Zone Status

ATV enjoys special economic status as a free zone, which means all incentives that apply to free zone operators apply to them. The zone is divided into 4 clusters with an estimated size of about 702 hectares and a population of 140,000 (residents and businesses included). A majority of the space is dedicated to green space of which some parts (about 50 hectares) have been dedicated to MAGNIFIQUE for solar farms and other sustainable power solutions. Since launching ATV has received over 80 expressions of interest and has registered over 25 free zone enterprises who are at different stages of establishment in the free zone.

ATV Power Demands

Exploratory Meeting between ATV, Magnifique and Genesis Energy Group teams at the ATV Hq, Lugbe Abuja.

Most of the registered free zone enterprises are at stages where they are asking for power. Some of these registered enterprises have not been able to complete implementation of their operations especially due to the epileptic availability of the grid and have been forced to source power elsewhere. ATV has a zero-generation policy and as such theavailability of power solutions on site is key to ATV and forms the basis of the partnership with MAGNIFIQUE. The ATV site development is expected to be phased which means power development will also be phased (i.e. 50MW or higher and ramped up as more enterprises register to the free zone and the power demand increases).

ATV Expectations

Although at this point, there is no clear picture of the power requirements of the registered enterprises in ATV for the initial phases, ATV as well as the registered enterprises want to see power as soon as possible. It is expedient that the MAGNIFIQUE and GENESIS team commence initial power development works on site so that the registered enterprises will see that there is indeed power. ATV will be able to assist in providing the aggregate power demand for those registered enterprises on the ground.

Group Photograph : ATV , MAGNIFIQUE and GENESIS TEAM.