MICT Teams With Evtec for Solar Power at Tingo Nigeria Plant >MICT

Dow Jones2023-02-22

By Colin Kellaher

MICT Inc. on Wednesday said Evtec Energy PLC will build a $150 million zero-emission solar power plant to provide a sustainable, low-cost energy source to the food-processing plant MICT's Tingo Foods unit plans to build in Nigeria.

MICT said Evtec will fund the cost of the 110-megawatt solar plant along with its financial partners, including Credit Suisse Group AG and JPMorgan Chase & Co.

MICT earlier this month said Tingo, through a joint venture, had committed to build and operate a $1.6 billion food-processing plant in Nigeria, with build, fitout and commissioning slated for completion by mid-2024.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 22, 2023 10:31 ET (15:31 GMT)

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