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Chinese firm to generate independent solar power in kebbi

Birnin Kebbi, March 8, 2024: The Kebbi Government on Thursday lauded the efforts of a China company, Fadel International Holding Group, in generating an independent solar electricity for the state.

Gov. Nasir Idris made the commendation while receiving a delegation from the company on a courtesy visit at Government House, Birnin Kebbi.

Idris described the move as a welcome development, adding that the company was not new to the state.

“They have been here in Kebbi doing business in mineral resources, especially in the area of lithium,” he said.

He observed that electricity remained a challenge not only to Kebbi but to the entire nation.

The governor recalled that during his electioneering, he promised to touch the lives of people in different areas and electricity was one of them.

“We want our people to have enough power supply so that they can stand on their own, at least those doing petty businesses to sustain their lives can be encouraged.

“We don’t have power but the coming of this independent power company is going to help us and help our business men and women to grow,” he said.

He noted that the facilitator of the project had earlier said that the project would be funded by Chinese Government.

“If China says it’s going to fund a project, it will fund it 100 per cent.”

Idris assured the company that the state government would create an enabling environment for them to conveniently carry out the project for the benefit of the state.

While informing the visitors that the state was blessed with abundant sun light, the governor said they would be conducted round to find a suitable place to mount their solar panels.

Earlier, the company’s Chief Executive Officer, Mr Mike Bako, said that Padel Holding was an international company with international ideas.

He urged the state government to avail them the opportunity to showcase their experiences and expertise.

The facilitator of the project, Prince Hussani Zakari, said Kebbi was among the

two states that would benefit from the project in Nigeria, adding that the state was endowed with large deposit of mineral resources.

“Prominent among these mineral resources is lithium, and lithium is a major component that Chinese Government use to generate solar power.

“Therefore, we have agreed to choose Kebbi as one of the states for independent power plant.

“China Power Company will shoulder the responsibility of this project, approval has already been given by China Government to construct an independent power plant in Kebbi because Fadel International Holding Group is doing business in the state,” he said.

He assured that the company had the capacity to generate up to 1,000 megawatts of electricity. 

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ADB, SAEL Industries sign up $147M loan for solar power plant

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Manila, Jan. 25, 2024: Asian Development Bank (ADB) and SAEL Industries Limited signed a loan for the development of a 400-megawatt (MW) greenfield solar power plant in Gujarat, India.

ADB said on Wednesday, through its subsidiary SAEL Solar P4 Private Limited.

The financing package comprise 147 million dollars from ADB and a parallel loan of up to 73.48 million dollars underwritten by Tata Capital.

The ADB led the structuring of the financing package as well as the mobilization of domestic private capital.

ADB said SAEL Solar P4 Private Limited would build and operate the solar power plant within the Khavda Ultra Mega Solar Park in Gujarat, India.

Electricity generated by the solar plant would be supplied to Gujarat Urja Vikas Nigam Limited, the state-owned power distribution company, through a 25-year purchase agreement.

The plant is likely to produce an average of 953 gigawatt-hours of clean energy annually, to avoid approximately 783,855 tons of carbon dioxide emissions annually.

SAEL and the ADB have previously partnered in a biomass power generation project that uses agricultural residue.

SAEL Industries Limited is a renewable energy company which focus on creating green assets in transition to green energy, with biomass and solar power projects in various states in India.

A member of SAEL group of company found in 1999 have diversified business interests in renewable energy generation, warehousing and agricultural processing.

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Infracorp secures 1 Gigawatt solar PV manufacturing plant in Nigeria

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Lagos, Dec. 5, 2023:) The Federal Government has taken a significant step to address Nigeria’s power challenges by signing a historic memorandum of understanding (MoU) to launch a 1GW Solar PV Manufacturing plant in the country.

The agreement was reached at the ongoing 28th session of Conference of Parties (COP28) in Dubai, United Arab Emirates.

In a statement  issued by Infrastructure Corporation (Infracorp) on Monday, the agreement signifies Nigeria’s commitment to a sustainable and self-reliant future and its determination to provide reliable energy for its people.

The agreement was initiated by Infracorp led by Dr Lazarus Angbazo, who signed the contract with two partners, Solarge BV of the Netherlands and the African Green Infrastructure Investment Bank.

The MoU is a significant catalyst in unlocking the potential of various economic sectors such as agriculture, healthcare, and education.

During the summit, the Minister of Power, Mr Adebayo Adelabu, who emphasised the importance of adequate energy supply to unlock the country’s full potential, assured the international community that President Bola Tinubu-led government was fully dedicated to fulfilling its promises.

He noted that the current power situation in Nigeria with insufficient transmission infrastructure, limited distribution capacity, and various challenges is hindering electricity generation.

According to him, this development has been responsible for frequent power outages that has continued to affect, negatively, the lives of Nigerians at home and in the work place.

Adelabu highlighted that renewable energy was no longer just a future aspiration but a present necessity.

“We bear witness to the enormous stress on our national grid that continues to trigger power outages that adversely affect the daily lives of our citizens: homes, schools, hospitals, and businesses of diverse scales,” he said.

He added that leveraging the African Free Trade Agreement could position Nigeria as a regional leader in transforming the energy landscape across West Africa and the entire continent.

While commending the Infracorp-led consortium for successfully securing a manufacturing plant in Nigeria, the Coordinating Minister for the Economy, Olawale Edun, said available data indicates a substantial market size for solar energy in Nigeria and West Africa.

Noting that the co-existence of abundant sunlight and limited energy access in Sub-Sahara, Africa presents a complex and challenging paradox, Edun said the establishment of a solar PV manufacturing plant in Nigeria has the potential to address various socio-economic challenges and bring about positive impact across different sectors.

On her part, the Minister of Industry, Trade and Investment, Dr Doris Nkiruka Uzoka-Anite, emphasised the importance of industrialisation in addressing various socio-economic challenges, such as job creation, import substitution, increased access to capital, and overall economic growth.

While noting that the MoU would be a significant catalyst for Nigeria’s industrial sector, she stressed that energy infrastructure remained the foundation for innovation, job creation, and prosperity that would pave the way for a brighter sustainable future.

The Chief Executive Officer of Infracorp, Angbazo, said the objective of the project is to revolutionise Nigeria’s energy sector and have a positive impact on various sectors of the economy.

He said the goal is to elevate Nigeria’s economy to $1 trillion through sustainable and climate resilient infrastructure.

He added that, “the project focuses on local manufacturing, green manufacturing and renewable energy, equipment manufacturing, and climate resilient infrastructure.”

InfraCorp is a government-supported infrastructure investment entity established and co-owned by the Central Bank of Nigeria (CBN), Africa Finance Corporation (AFC), and Nigeria Sovereign Investment Authority (NSIA).

Through Solarge International BV, a leading Dutch manufacturer of lightweight solar panels, an MoU was signed with Infrastructure Corporation of Nigeria (InfraCorp) to establish a solar panel manufacturing factory in Nigeria.

Wind mills and solar panels alternative energy production.

Companies inaugurate 100MW solar panel assembly factory in Lagos

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Lagos, Sept. 29, 2023: All On, a Shell-funded impact investment company, and Auxano Solar Nigeria Ltd., have inaugurated a fully automated 100MW solar photovoltaic module assembly factory in Ibeju Lekki, Lagos, to boost local content.

Mrs Caroline Eboumbou, Chief Executive Officer, All On, said in a goodwill remark at the inauguration of the facility on Friday in Lagos, said that the facility represents a significant milestone in the growth and development of the renewable energy sector in Nigeria and Africa at large.

Eboumbou said that the factory targeted at reducing Nigeria’s dependence on imported solar panels, thereby driving down forex costs and creating economies of scale in the use of climate-smart alternative energy sources.

She said that the facility, financed by All On as part of its two million dollars investment in Auxano Solar in 2021, was to lower renewable energy transition costs, guarantee quality facility and potentially reduce the cost of solar energy for consumers.

“All On has been there with Auxano from the early days; from a 50,000 dollars investment in 2018 to a much larger 1.5 million dollars investment in 2020 at the height of the COVID disruption to an additional 500,000 dollars in 2022.

She noted that All On and Auxano had navigated supply chain crunches, forex challenges, business development issues, and the ups and downs of being a manufacturer in a tough environment.

Eboumbou, however, expressed confidence in the sustainability of the company’s growth.

The CEO noted that the project marked a transition from Auxano Solar’s previous 10MW semi-automated solar panel production plant to a cutting-edge, fully automated 100MW assembly and production factory.

She said, “The success of Auxano as the first privately-owned solar assembly factory is a triumph for the promotion of local manufacturing within the Nigerian renewable energy sector.

“Our investment in this factory aligns with All On’s commitment to inspire other stakeholders, investors, and government to localise the solar supply chain.

“Ultimately, this will drive affordability and accessibility of solar products, especially in light of the growing interest in solar energy solutions among Nigerians,” Eboumbou said.

According to her, the company’s growth as the first private assembler of solar panels is a success story that ought to inspire other players in the renewable energy sector.

She emphasised that in the initial stages, the company hired students from a local technical school who were trained by foreign experts, and as the first of its kind, the Auxano plant is expected to produce 150 panels daily, 3,000 panels monthly, and about 72,000 panels yearly.

Osagie Okubor, Country Chair of Shell Companies in Nigeria, who was represented by Mr Hans Nijkamp, Shell All on Board member, said that the Auxano project is a visual representation of what Shell hoped to achieve when All On was established in 2017.

He said, “With the singular goal of helping energy-poor communities in Nigeria gain access to energy by unlocking potential off-grid clean energy solutions.

“All On has made strategic investments to achieve this and we are proud that our support for All On has culminated in the commissioning we are witnessing today.”

Mr Salihijo Ahmad, Managing Director, Rural Electrification Agency (REA) Nigeria, said that the attempt aimed at localising Renewable Energy (RE) equipment supply chains by developing local manufacturing capacity.

He explained that the development was one of the key strategies to ensuring the security of supply of RE equipment for project deployment.

Ahmad said that project would foster local economic growth and provide decent employment opportunities for Nigerians.

According to him, the launch of the  plant signifies the company’s steadfast focus on bringing such a landmark project to life, despite some contrary economic indicators.

“All On and other stakeholders deserved commendation for supporting the project directly with funding, technical assistance, licensing, and other relevant business facilitation services.

“These collaborations are very key and more of such are needed to address the twin problems energy poverty and the climate crises pose,” he noted.

Governor Babajide Sanwoolu of Lagos State, in his goodwill message delivered at the event, said that the assembly plant came when Nigeria is demonstrating serious commitment to the execution of the national energy transition plan.

The governor who was represented by Mr Anthonio Ayodele, General Manager, Lagos State Environmental Protection Agency ( LASEPA), commended, the two companies for the successful completion of the plant.

He said the decision to establish the plant in Lagos State was to  deepen  local technical knowledge and expertise in solar and renewable energy technology.

Sanwoolu, therefore, reemphasised the commitment of the government to transitioning towards ensuring universal access to clean, affordable and reliable energy, part of which is the state’s goal to deploy IGiggaWatts of solar PV solutions by 2030.

He said, “The commitment is evident in the various policies and strategies that we have put in place to create an enabling environment for the widespread adoption of renewable energy technologies.

“The establishment of this 100MW PV Manufacturing and Assembly Plant represents a significant milestone in our efforts to transform our energy landscape.

“It aligns with the central Traffic Management and Transportation, Health and Environment, Education and Technology (T.H.E.M.E.S) agenda of this administration,” the governor said.

Sanwoolu, therefore, emphasised that the electricity generated by the solar facility would not only be a source of clean and sustainable power, but would also have a profound impact on reducing greenhouse gas emissions.

Afam Ogbaru, Chairman, House of Representative Committee on Renewable Energy, Federal Constituency, Anambra State, in his remark, congratulated the Auxano Solar Nigeria Ltd, for the unveiling of the 100MW Solar PV Manufacturing and Assembly facility.

According to him, Nigeria suffers from inadequate energy supply, and it is, indeed, worrisome that even in the midst of this obvious energy crisis

“The situation is made even more dire, given the frequency of national electricity grid collapse – two or three times within the last three weeks – resulting in total blackout in business concerns and homes.

He said, “Hopes of an early resolution of the problem appears far-fetched, at least, not with the reality of decaying infrastructure and huge replacement costs starring us all in the face.

Ogbaru, therefore, invited the Auxano, other players and stakeholders to collaborate with his committee, to formulate policies and initiatives geared toward the acceleration of investment in renewable energy technologies.

Mr Chuks Umezulora, Co-founder and CEO of Auxano Solar Nigeria, in his remark, emphasised that commissioning  being the first and biggest in the country was a dream come true.

He said, “Nigeria may be behind on so many things necessary for development, but I am determined to be a part of the solution.

“This factory is my contribution to the growth of our economy, and I hope my story of grit and dedication inspired someone to try something even bigger. Go for it, because you can.

“Spanning across an impressive 5730 square meters of land, the newly commissioned 100MW premium PV module assembly factory integrates production, warehousing, and office spaces.

“Equipped with advanced Asian-certified production equipment, the facility is designed to manufacture high-quality PV modules known for their efficiency, durability, and adaptability to various weather conditions,” he said.

The CEO of Auxano, therefore, stated that the factory had employed a substantial local workforce to oversee its operations.

He noted that a significant portion of the factory’s power supply was generated by Auxano solar panels.

Mr Demola Onanuga, the Chairman of Auxano Solar, on his part, said that the formal take-off of the assembly plan would close the deficit in electricity accessibility in the country.

He stated that the 100MW module assembly factory would help to reduce the unit rate of solar power in Nigeria and make it affordable for households and businesses.

Onanuga, therefore, assured of Auxano’s readiness to meet the growing demand for solar panels in Nigeria, adding that the company was already in talks with partners to expand the factory capacity and establish more in different parts of the country.

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Solar alternative to electricity supply in Nigeria

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Ibadan, July 17, 2023: The Chief Executive Officer of Fendini Homes, Mr Laja Adeoye, has described solar energy as the best antidote to the epileptic power supply currently being experienced across the country.

Adeoye said on Monday in Ibadan, urged Nigerians to embrace solar energy to ensure growth and development.

Adeoye, the developer of Rayfield Gardens City Estate, situated at Alamo Akala GRA in Ibadan, said that for any modern estate to function optimally, it should be able to provide residents with constant power supply.

He said that this had made Rayfield Gardens City to switch all the street lights in the estate to 100 per cent solar power.

The estate is a public-private partnership (PPP) initiative with Oyo State Government aimed at providing about 400 housing units to Ibadan residents and other prospective home buyers across the world.

According to him, Fendini Homes is out to give subscribers a new living experience in a more serene environment, with modern architectural smart home designs and quality construction.

This, he said, was aimed at ensuring that at no point in time would the estate be in darkness.

“With solar energy, the subscribers can be assured of effective estate lighting at night, which will enhance liveliness, visibility and security of residents.

“As you can see in our proof of concept, we have had street lightning on for the past one year in the estate, as there is no night you come to our estate that you won’t see light.

“In addition to perimeter fence lighting units in every home, each of the houses will have solar light pole installed in them to ensure that the entire estate is well-illuminated in the night.

“Again, we have carefully and painstakingly designed each of the houses to have at least 10-20 KVA of solar power installed on them in order to phase out generators and achieve zero noise in the estate.

“We are also moving away from fossil fuel-powered generator which comes with carbon emissions,” he said.

Adeoye said that the solar light on the streets and those installed in each unit of the houses would mitigate air and noise pollution in the estate.

While describing renewable energy as a game changer, he said that his company would ensure provision of quality infrastructure to all the residents.

He said that infrastructure would include: solid-paved roads, drainages, multi-layer power/security, treated water plants, fiber optics fast internet penetration – 5G network and smart homes automation technology, among others.

“To us, beauty and aesthetics so much to us; there will be clean air, clean environment, flowers and gardens.

 “We are also going to have centralised treated water plants, which will be piped and metered in each unit of the houses in the estate.

Adeoye said any sub-developer interested in developing some of the units in the estate would be given such opportunity, as there was already a template in that regard.

“We have spaces in our commercial wing for those who want to invest and build standard hotels, primary and secondary schools, office complex/banking hall/show rooms, amusement park, hospital/pharmacy, conference centre, gym and more.

“The idea is to have a one-stop shop estate which will be the first of its kind in Oyo State,” he said.

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Djibouti signs deal on solar power

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Djibouti, July 9, 2023: Solar powered desalination scheme to transform water security for 550,000 people; largest ever EIB, engagement in Djibouti signed during working visit to Luxembourg.

The European Investment Bank (EIB), the world’s largest international public bank, today agreed to provide EUR 79 million 25-year financing to support water desalination, access to clean drinking water and wastewater treatment in Djibouti.

The EIB’s first-ever support for water investment in 44 years of operations in the East African country will transform water access in the national capital, enhance resilience to climate change, is expected to secure access to clean water for more than 555,000 people and enable solar power renewable energy to produce clean drinking water as part of Global Gateway

The EIB’s first investment in Djibouti through its new development finance arm EIB Global will double freshwater production capacity at the Doraleh Desalination Plant and expand three wastewater treatment plants at Doraleh, Balbala and Douda.

The long-term EIB loan to the Ministry of Economy and Finance of the Republic of Djibouti, is guaranteed by the European Union’s Neighbourhood, Development and International Cooperation Instrument (NDICI), and will be used alongside grant financing from the European Union, the French Development Agency (AFD) and support from the Djibouti government.

The EIB largest ever financing for investment in Djibouti was signed during a working visit to the Luxembourg headquarters of the European Investment Bank by Finance Minister Ilyas Moussa Dawaleh and Thomas Östros, Vice President of the European Investment Bank, in the presence of Youssouf Aouled Faraf, Director of the Prime Minister’s Office and Chairman of the national water agency, ONEAD, and H.E. Aden Mohamed Dileita, Ambassador of the reublci of Djibouti to the European Union and Benelux.

Ilyas Moussa Dawaleh, Finance Minister of Djibouti said, “The European Investment Bank’s new support for water security represents a significant milestone in enabling Djibouti to adapt to a changing climate.

“The partnership between Djibouti and the European Union will help us to transform and secure water supply for thousands of people in our country and contribute to delivering our country’s sustainable development goals.

“We are grateful for the EIB’s financial support and technical expertise and we look forward to unlocking the benefits of this collaboration for our people.”

“The European Investment Bank is pleased to extend its support for transformational water investment in Africa and scale up water desalination and wastewater treatment in Djibouti.

“This visionary new investment demonstrates EIB Global’s firm commitment to addressing water challenges and promoting climate resilience in vulnerable countries through best-practice technology and high-impact infrastructure investment, as part of the Global Gateway initiative.

“By leveraging renewable energy sources, this project will significantly contribute to achieve sustainable and inclusive development in Djibouti. The sanitation component will fill a chronic investment backlog in the sector and will improve public health and environmental conditions” said Thomas Östros, Vice President of the European Investment Bank.

“This new EIB and EU investment delivers on the European Union’s strong commitment to sustainability and climate action. The investment follows the inauguration of the the Djibouti desalination plant in 2021 and is a perfect example of Team Europe working together.

Moreover, it proves the strength of our long-standing partnership with Djibouti in jointly pursuing innovative solutions to water scarcity. Today’s project will become a model for best practices in water management across the region and around the world.” said Jutta Urpilainen, European Commissioner for International Partnerships.

Strengthening climate resilience and water security in the Horn of Africa under Global Gateway

Djibouti is one of the most vulnerable countries in the world to the impact of climate change, including prolonged drought, extreme temperatures, flash floods and long-term salinization of soils and underground water aquifers.

The new investment will be implemented by the Office National de l’Eau et de l’Assainissement de Djibouti (ONEAD) and support Vision Djibouti 2035.

The project is the second phase of the PEPER- Production de l’eau potable par dessalement et energie renouvable initiative. Phase 1 has successfully enabled 22,500 cubic meters of fresh water to be produced a day. Phase 2 will enable daily production of 45,000 cubic metres of fresh water and includes construction of a 12 MW photovoltaic plant to power desalination.

Transforming water security in the Horn of Africa as part of Global Gateway

Djibouti has been grappling with significant challenges in ensuring reliable access to clean water and proper wastewater management.

The new projects supported by the EIB will focus on the implementation of advanced water desalination technologies and the enhancement of wastewater treatment infrastructure.

By harnessing renewable energy sources, such as solar and wind power, these initiatives will not only ensure sustainable water supply but also reduce Djibouti’s carbon footprint, contributing to global climate objectives.

The investment will enable Djibouti to develop its water sector, strengthening its resilience to climate change and improving water security for its population. Additionally, the long-term loan and concessional financing provided by the EIB will allow for cost-effective project implementation, ensuring sustainable water management practices for years to come.

The EIB’s funding for water desalination and wastewater treatment in Djibouti represents a significant step towards achieving water security, enhancing climate resilience, and driving sustainable development in the country.

This partnership between Djibouti, the European Investment Bank, and the European Union will serve as a beacon of hope, providing long- lasting benefits to the population and setting an example for future water-related projects.

The European Investment Bank has supported energy, telecom and business investment in Djibouti since 1979.

Solar

Solar is the oil of 21st century

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Solar is the “oil of the 21st century,” and the most powerful economies will be those that have the cheapest energy, says renowned African banker and entrepreneur Tidjane Thiam.

 “If we don’t participate in that (solar) revolution, America is going to have the cheapest and the cleanest energy in the world.

There’s a revolution going on in the world economy. The cost of a solar watt in 1975 was $115.30; in 2010 it was $2.70, today it’s 27 cents. It’s gone from $115 to $0.27,” said Mr Thiam, a former Group CEO of Credit Suisse and Prudential Plc and now executive chairman of Freedom Acquisition Corp 1.

He was speaking at the 2023 shareholders AGM of the African infrastructure lender Africa50 in Lome, Togo, on July 3.

He compared the energy revolution with the internet one, noting that production has become decentralised and hence more accessible and much cheaper.

The Biden administration has set aside $380 billion to back solar production.

Energy sector seeks financing solutions tailored to Africa’s needs

“Energy production is becoming decentralised… and that’s revolutionary, because it’s cheap and it’s clean… If you put up solar on the roof and you buy an electric car, you’re going to drive for free,” he said.

His sentiments were echoed by Dr Ajay Mathur, director-general of International Solar Alliance (ISA), a strategic partner of Africa50.

Dr Mathur noted that Africa has the best solar potential in the world, with a practical potential of 4.5 kilowatt-hour peak per day, making solar a viable alternative to meet the continent’s power needs.

But they noted that investment in the sector is still negligible.

“Last year, even though globally $250 billion was invested in solar, only two percent of it came to Africa. Why? While the risk premium on Africa was relatively high, this is quite at variance with the reality: the default rates are less than two percent!”

He challenged Africa to bring down the perceived risk to attract international capital into the sector.

They urged focus on start-ups.

A start-up challenge has been started to identify 20 firms in Africa, that will provide energy at the grassroots, with emphasis being placed on solar farms to supply solar mini grids.

Mr Thiam said his company is looking for a pilot in Africa for manufacturing of solar panels.

Freedom Acquisition, a publicly traded special purpose acquisition company, has completed a venture with California-based Complete Solaria, and is looking to list on the Nasdaq Stock Market in the US on July 14.

The EastAfrican

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FG provides solar alternative power to Nigerians

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Osogbo, June 16, 2023: Mr Ahmad Salihijo Ahmad, Managing Director of Rural Electrification Agency (REA), on Friday, said the Federal Government is providing solar energy alternatives to Nigerians in a bid to cushion the effect of subsidy removal on businesses and households.

Ahmad who was speaking after the inspection of REA’s Energizing Economies Initiative (EEI) project in Ayegbaju International Market, Osogbo, said the Federal Government, through REA, is setting up alternative solar energy system to cater for electricity undeserved Nigerians.

He also explained that the concept of the EEI project was to provide alternative and clean solar energy to Nigerians, so as to reduce or abolish the use of carbon monoxide petrol-powered generators.

“We came to our Zonal office in Osun and we decided to do a short inspection of the Energizing Economies Initiative (EEI) that we have in Ayegbaju International Market, Osogbo.

“We came to see the progress of the work and we are very happy with what we have seen here today.

“The concept is to see how we can work with the market association and most importantly, work with the state government to scale-up solar power supply to the whole market,” he said.

He said the construction of the solar system at the Ayegbaju Market is about 95 per cent completed and that the power generation of the system is targeted at 30kwp.

He said at the pilot phase now, the solar power electricity is being test run on 48 shops and that in the long run, it would be extended to all the shops in the market.

He said with the interaction he had with the leadership of the market, shop owners are interested in the solar power project, as an alternative power source to run their operations/shops.

“What we have seen is the tremendous interest of the market people in the solar energy alternative, especially using it to replace petrol generators, in the face of subsidy removal,” he said.

He said as a follow up to the inspection and interaction with the market people, he would meet and work with developers, Osun State Government and even the market association, to draw a roadmap of how the project would be sustained and scaled up to cover the entire market.

He said with the solar system initiative, REA has been able to demonstrate a concept of solar power generation and supply, and that they can now bring in and work with other stakeholders to scale it up to the demand of Nigerians who are unserved and undeserved with electricity.

“Over 148 sites have been audited directly by REA,” saying “support from partners, such as E-guide and Rockefeller Foundation, will enhance the Energizing Economies Initiative (EEI) project.

“It is from these sites that Ayegbaju International Market, Osogbo, and Abubakar Gumi Market, Kaduna, were selected to deliver the next phase of EEI projects,” he said.

He said they are taking into account the lessons learnt from phases zero and one of the project initiative and would use it as model for sustainable and collaborative projects with state governments and Electricity Distribution Companies (DisCos).

“Once the solar system construction is completed, the State Governments or DisCos, developers, and REA will be able to sit with the Market Associations to sign a multilateral agreement which ensures the long term viability of the project while ensuring energy access to the markets.

“These projects will also provide the much needed relief to businesses in these markets by reducing their dependence on petrol generators while increasing the penetration of renewable energy sources,” he said.

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Investments in solar to outpace oil for first time in clean energy shift – IEA

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Investment in solar power is expected to overtake oil for the first time this year as clean energy spending outpaces that for fossil fuels, the IEA said in a report Thursday.

While that is a welcome development, the International Energy Agency (IEA) warned that investment in fossil fuels is rising when it should be falling fast to achieve net zero emissions by 2050.

“Clean energy is moving fast – faster than many people realise,” IEA Executive Director Fatih Birol said in a statement accompanying the release of the agency’s latest report on energy investment.

“This is clear in the investment trends, where clean technologies are pulling away from fossil fuels,” he added.

Annual investment in clean energy is expected to have risen by 24 percent from 2021 to more than $1.7 trillion in 2023, according to the IEA. The gain for fossil fuels was 15 percent over the same period.

Investment in clean energy and fossil fuels was equal only five years ago. But a combination of factors, in particular high oil and gas prices and a worry about supplies, has seen spending on renewables surge ahead.

“One shining example is investment in solar, which is set to overtake the amount of investment going into oil production for the first time,” Birol said.

The IEA expects investment in solar power, essentially photovoltaic panels, to hit $380 billion this year, while investment in oil exploration and extraction should come in at $370 billion.

 “This crowns solar as a true energy superpower,” said Dave Jones, head of data insights at the energy think tank Ember.

The low price of solar power generation will help propel decarbonisation efforts as electric car adoption gathers pace.

But the rebound in oil and gas investment, which is expected to return to 2019 levels this year, puts the industry further away from the IEA’s 2050 net zero trajectory.

The IEA says overall 2023 fossil fuel investment is expected to be more than double the amount the sector should be spending in 2030. For coal, it could hit six times the amount.

The IEA also noted that clean energy investment was concentrated in advanced nations and China, while the biggest increases in fossil fuel investment are in Middle Eastern nations.

“The irony remains that some of the sunniest places in the world have the lowest levels of solar investment, and this is a problem that needs attention,” said Jones.

The IEA also found that major energy companies, for the most part, are not putting considerable funds into the transition to green energy.

Just five percent of their cash flow last year went to low-carbon and renewable energies or carbon capture projects, only about a quarter of the amount that was paid out overall to shareholders.

The EastAfrican

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REA holds matchmaking programme on solar energy

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The Rural Electrification Agency (REA) has held its first investor matchmaking for the Solar Power Naija Programme to provide opportunity for potential investors to pitch their financial offerings to developers.

A statement from REA in Abuja on Thursday said the event was organised in collaboration with the Power Africa Nigeria Power Sector Programme (PA-NPSP, USAID).

REA said that the event also provided a networking and matchmaking forum that brought together key investors and high-performing developers pre-evaluated by the Solar Power Naija team in the power sector.

The agency explained that the programme was launched as part of the Economic Sustainability Plan (ESP) to achieve the roll out of five million new solar connections in off grid communities.

”This programme is expected to generate an additional N7 billion increase in tax revenues per annum and 10 million dollars in annual import substitution.

“The objectives of the programme are to expand energy access to 25 million individuals (five million new connections) through the provision of Solar Home Systems (SHS) or connection to a mini grid.

“Increase local content in the off grid solar value chain and facilitate the growth of the local manufacturing and assembly industry and incentivise the creation of 250,000 new jobs in the energy sector,’ ‘it said.

Speaking at the event, the Managing Director of REA, Mr Salihijo Ahmad, encouraged partnerships to boost energy access in communities.

“As the implementing agency for Nigeria’s off-grid strategy, the REA has been working to support private developers by creating an enabling environment to facilitate investments in various ways,” Ahmad stated.

He said that this partnership included access to data, policy support, grants, capacity development, stakeholder management and most importantly financing developers.

The Acting Deputy Missions Director, USAID Nigeria, Mr Stephan Menard, said: “I encourage the private developers to take advantage in accessing financing towards improving the lives of Nigerians by delivering sustainable energy access.”

On her part, the Head, Solar Power Naija Programme, Barbara Izilien, said that the match making event would build quick partnerships that could lead to new connections.

According to her, the partnership will further count towards the country’s target of electrifying a minimum of five million households, serving a minimum of 25 million Nigerians.

“The Solar Power Naija Programme implemented through REA is actively working on catalysing access to financing for developers in the off-grid sector to achieve the programme targets,” she said.

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