International Renewable Energy Agency (IRENA)’s report titled “Renewable Energy Roadmap: Nigeria” published in January 2023 sheds light on how Nigeria’s economy is making efforts to increase uptake of renewables. It also provides a roadmap for the country using two scenarios. REGlobal provides a brief extract of the report.
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This report, part of the State of Climate Finance in Africa series, provides a deep dive analysis of tracked climate finance in Nigeria in 2019/2020. While data gaps limit a fully comprehensive assessment, the key purpose of this case study is to inform and facilitate discussions among policymakers and public and private financiers, identifying gaps and opportunities for scaling climate finance in Nigeria.
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Along with its consortium partner, Sun Africa, Sterling and Wilson Solar Solutions, the US-based company of Sterling and Wilson Renewable Energy (SWRE), has signed an agreement with the Nigerian government to construct solar and storage projects in Nigeria. The combined efforts of Sterling and Wilson Solar Solutions will develop 455 MWh of battery storage and 961 MWp of solar installations.
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The private sector is helping increase the supply of electricity by building distributed energy resources (DERs), which has created an opportunity for investment. One such business model for DERs is embedded generation, which can improve supply for customers in urban and peri-urban areas in Nigeria by injecting up to 20 MW of generation per project directly at the distribution level.
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A new report from RMI, Factor[e], and UK-charity Shell Foundation shows that a growing renewable minigrid industry and a booming market for two- and three-wheeled electric vehicles opens the door for minigrid-powered EVs to become the option of first resort for families and businesses with the ability to invest in motorized transport. The study concludes that small-format EVs available today can compete with fossil-fueled alternatives at a wide range of energy prices.
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The total energy access gap is pretty huge in Nigeria. Even for those who do have access to power, the power supply is unreliable and unstable. Thus, there is a lot that needs to be done. The federal government of Nigeria has taken huge steps towards bridging the existing energy access gap. A number of policies and regulations have been introduced to promote solar power in Nigeria to not take over but supplement the main grid.
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At REGlobal’s 2nd edition of “Solar Power in Africa” conference, Anita Otubu, Head – PMU, Nigeria Electrification Project gave a presentation on the various solar power plans and policies in the country of Nigeria. In her presentation, she discussed the schemes and regulations to promote solar power in Nigeria; progress made so far in these countries; and initiatives to address the challenges that lie ahead.
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National Council on Privatisation (NCP) and the Bureau of Public Enterprises (BPE), have invited expressions of interest from qualified technical advisers to provide transaction advisory services for concession of a 700 MW hydropower project. The bid submission deadline is March 31, 2021.
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The government of Nigeria plans to commission a wind power project with a capacity of 10 MW which is located in the Lambar Rimi area of Katsina State. Katsina wind farm is set to be commissioned in March 2021.
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B&S power holding, a Singapore-based renewable energy company, and Sunnyfred Global, a Nigerian investment company have collaborated to develop the Ashama solar farm with a capacity of 200 MW. The solar project is located in an area of about 304 hectares in Ashama Village, Aniocha South of Delta State in Nigeria.
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Fitch Solutions has developed a Hydrogen Index which assesses the suitability of a market for the development of a green hydrogen industry. South Africa remains the region’s top-ranked market, given its well-established power sector and having the largest installed non-hydropower renewables capacity in SSA.
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Nigeran off-grid solar company, Daystar Power has closed a $38-million Series B financing round led by Denmark’s Investment Fund for Developing Countries. In addition to the Danish Impact Investor, the deal was supported by French impact infrastructure fund STOA, development finance institution Proparco and Morgan Stanley Investment Management. Daystar Power has now raised a total $48 million includind funds raised in the previous round.
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The federal government of Nigeria has commenced its program of installing solar home systems across 5 million households in the country. After a three-year period, beneficiaries could fully own the solar system and be entitled to a monthly payment of up to $10.49. The program will also foster the development of the local manufacturing industry for the assembly and manufacturing of components.
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Solar Power Europe conducted a virtual event with various industry associations from Africa to highlight the impact of Covid-19 on the African solar sector. Check out the presentations made by associations from South Africa, Mozambique, Nigeria and Kenya as well as by GET.invest at the event.
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What we are is a continent with a chronic inability to implement these policies. A perfect example can be found in the power sectors across sub-Saharan Africa. A large part of the continent’s power sector has suffered from underinvestment as well as a failure to implement the various energy reform policies proposed over the years.
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The Mokoloki project is a first step on the broader pathway to utility innovation, for both IBEDC and the power sector in sub-Saharan Africa. The pilot tests the feasibility of undergrid minigrids to reduce utility losses and drive economic development in rural communities.
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