As issues of climate change and global environmental challenges remain on the front burner, the need for sustainable sources of energy cannot be overemphasized. Investors and policymakers have often shown concerns about the viability of renewable energy investment portfolios. Wind energy is undoubtedly an energy source with lots of potential globally. It is clean, sustainable, and environment-friendly. In this paper, the financial viability of onshore wind energy for domestic and commercial usage in a selected site in northern Nigeria was evaluated. The FinPlan energy modeling tool was utilized to model an initial investment cost of N69.5b for a 30-MW wind energy project over a 20-year operational period. The study aims to ascertain the viability of the project using net present value (NPV) and internal rate of return (IRR) as evaluation metrics. With an average electricity selling price of (N65) $0.04/kWh, findings from the study showed an impressive IRR of 18.56% and NPV of N36.1b for an optimistic base case scenario. The government fixed-price scenario has an IRR of 15.84% and NPV of N26.1b; while the scenario of a 50% reduction in energy output has an IRR of 10.24% and NPV of N9.3b at an electricity selling price of N50/kWh and N65/kWh respectively. Overall, this article presents an analytical workflow to support the development of a wind energy investment strategy. It also provides valuable insights for investors, analysts, and policymakers in renewable energy investment and energy policy development.

Wind Energy, Power Output, IRR, Net Present Value, Energy Investment, Electricity Tariff