In a statement on Monday, the company said with the launching, power supply which had been a significant barrier to industrialisation and foreign investment, would gradually be a thing of the past.
According to Westa, its commitment to renewable energy has been unwavering, describing the latest expansion of its installed solar capacity as a testament to its dedication to addressing Nigeria's power crisis.
The firm noted that solar energy would help bridge the gap in power supply, providing clean, reliable, and sustainable energy to businesses across the country.
Recall that Westa Solar secured a mezzanine loan of over $1m from the Development Bank of Austria in 2022, and had continued to grow its portfolio.
The company explained that its Power Purchase Agreement model offered a robust power supply solution, which included financing, design, procurement, installation and maintenance of rooftop and ground-mounted solar projects for commercial and industrial clients in West Africa.
By providing finance for the projects, Westa Solar said it uptook the initial capital investment that was typically a high amount of funds for a large turn-key solution.
The firm said by providing the funding it would ensure a competitive cost of energy, with respect to the client's existing cost of using a combination of electricity from the national grid and diesel or gas generators to supply its energy needs.
“In the past two months, Westa Solar has managed the seamless operation of its new solar rooftop power plant of 990KWp at Aspira Nigeria Limited located in Kano State. This project is expected to offset over 18,000 tonnes of CO2 emissions during the project's lifetime, with cost savings to Aspira Nigeria Limited estimated at N2.5bn.
“This feat, along with the earlier commissioning (sic) of a 396kWp solution at Angel Spinning and Dyeing Limited, adds to a growing list of clientele under Westa Solar's PPA model, with a total installed capacity now at 3MWp of solar,” it added.