Nigeria Mulls Investment in Solar Power Projects

Nigeria Mulls Investment in Solar Power Projects

Nigeria has been considering solar energy to generate more of its power. According to the Renewable Energy Association of Nigeria (REAN), Senators in the capital of Abuja are debating allocation of $30m to solar projects in 2017’s budget.

REAN’s Executive Secretary, Godwin Aigbokhan, noted in a public statement that the fund would be allocated to off-grid solar projects, photovoltaic manufacturing, and transmission upgrades. Additionally, he pointed out that the move towards solar power could provide as much as $2.5b of investments in utility-scale solar projects by 2018, and a final decision is expected to be set already in March.

Solar energy has been on consideration since the West African country announced its commitment to more environment-friendly production, which has led to the development of renewable-energy projects and stirred up the debated on how Nigeria could deliver clean power to more of its 180m citizens. The new generation is expected to reach nearly 1,200MW of off-grid solar power.

A study carried by the German Development Agency (GIZ) pointed out that Nigerian households and small businesses currently spend about $21.8b each year powering diesel generators to produce electricity. Commenting on this, Bloomberg New Energy Finance’s Head of Frontier Power Research, Itamar Orlandi, stated that “the ubiquity of small diesel generators used to bridge gaps in grid-supplied power already makes solar panels that cut fuel costs an economic option.”


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