Agribusiness: Evtec Energy to fund 110 MW solar power plant for Nigeria’s Tingo Foods 

Under a power purchase agreement (PPA), UK-based Evtec Energy, through its technical partner TAE Power Solutions, will fund the construction of a 100 MW solar power plant for Nigerian agribusiness Tingo Foods, a wholly owned subsidiary of MICT, a financial technology company with operations in around 130 cities in China. Along with Credit Suisse, JPMorgan and Roth, Evtec Energy will provide $140.1 million of the $1.5 billion required for the project, which is expected to be commissioned in the first half of 2024 to power Tingo Foods’ future food processing plant.