Aliko Dangote. President, Dangote Group

The $150 million solar power project being backed by the Dangote Group and Blackrhino has moved one step closer to reality as the Kano State government has provided land in Zakirai, Gabasawa Local Government area of the state.

The Secretary to Kano State Government, Alhaji Usman Alhaji  signed on behalf of the state government while Bello Danmusa, Managing Director Stakeholder Management signed on behalf of the Dangote Group.

About the project

The Memorandum of Understanding between the Dangote Group/ Black Rhino consortium and the Kano State Government to build a 100 MW solar power plant was signed in August last year. The project is expected to be completed in the next two years.

Why this is big

Providing the land shows the seriousness of the state government towards the project. State governments tend to sign MOU with many companies, then end up stifling them with bureaucracy and red tapeism. The state government’s release of the land also lowers the cost of the project.

Dangote Group was founded by Aliko Dangote in 1981, and is one of the largest conglomerates in West Africa with annual revenue of over $3 billion, and over 20,000 employees. The Dangote Group has operations cutting across various areas of the economy including flour milling, sugar and salt refining, and port operations.

The Dangote Group is currently building one of the largest crude oil and petrochemical complexes in Africa.

Black Rhino, founded in 2012 is a subsidiary of Blackstone an international equity firm. Black Rhino’s team has collectively been involved in the development and financing of over US$35 billion infrastructure, telecommunication and power generation projects, primarily in Africa

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com