A vision to enhance Nigeria’s power landscape and facilitate a transition to a more sustainable energy mix. In a strategic move in Abuja, Nigeria’s federal capital territory (FCT), the minister of power, Bayo Adelabu, held a meeting with Sun Africa LLC, a US-based renewable energy soluti Contact online >>
A vision to enhance Nigeria’s power landscape and facilitate a transition to a more sustainable energy mix. In a strategic move in Abuja, Nigeria’s federal capital territory (FCT), the minister of power, Bayo Adelabu, held a meeting with Sun Africa LLC, a US-based renewable energy solutions provider. “Together, we solidified a collaboration to enhance Nigeria’s […]
A vision to enhance Nigeria''s power landscape and facilitate a transition to a more sustainable energy mix.
In a strategic move in Abuja, Nigeria''s federal capital territory (FCT), the minister of power, Bayo Adelabu, held a meeting with Sun Africa LLC, a US-based renewable energy solutions provider. "Together, we solidified a collaboration to enhance Nigeria''s power landscape," he affirmed. The collaboration aims to deliver 961 megawatts peak (MWp) of solar photovoltaic (PV) generation infrastructure and 455 megawatt-hours (MWh) of battery energy storage systems, amounting to a $2.2 billion investment.
Adelabu disclosed this while sharing the vision during his visit to Cotonou, Benin Republic. "I had the honor of representing Mr President [Bola Tinubu] at the commissioning of the West African Power Pool''s (WAPP) Communication and Coordination Center," he posted via his X account on November 19.
This initiative by the Economic Community of West African States (ECOWAS) promises "seamless power transmission and market-driven energy trading across the West African sub-region."
Excitement resonated in the minister''s words as he shared his anticipation of the positive impact of the solar PV generation infrastructure on Nigeria. "This collaboration is a crucial step in transitioning to a more sustainable power mix, vital for economic growth and environmental responsibility," he emphasized. The commitment from Sun Africa aligns with his power sector transformation roadmap, focusing on distributed power leveraging renewable energy.
This is coming on the heels of the visit of the president of the World Bank, Ajay Banga, where he co-convened a private sector roundtable with discussions held on the crucial role electricity plays in the country''s economic development. The World Bank notes that 85 million Nigerians lack access to electricity, and if left unaddressed, this figure is expected to rise to 94 million by 2030.
The financial backing for this ambitious venture is equally robust. "Financing partners ING Bank and Citi, backed by the US Export-Import Bank (US-EXIM Bank), actively support this venture, committing up to $10 billion over the years," revealed the minister.
This support, according to Adelabu, not only ensures the success of the initial phase but also lays the foundation for future developments. Collaborating with Sterling and Wilson Renewable Energy Limited as the Engineering, Procurement, and Construction (EPC) partner further solidifies the project''s strategic execution.
He expressed gratitude to all stakeholders involved, recognizing this collaborative effort as a milestone in advancing sustainable and reliable energy solutions for Nigeria. "Together, we forge a path towards a brighter, greener, and more energy-efficient Nigeria," he concluded.
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The Nigeria Sovereign Investment Authority ("NSIA" or "The Authority") has launched a $500m Renewables Investment Platform for Limitless Energy (“RIPLE”). This transformative initiative is dedicated to the development, investment, and operation of renewable energy projects across the entire value chain.
With RIPLE, NSIA is positioned to expand energy access, enhance energy efficiency and ensure energy security.
The launch of RIPLE is accompanied by the execution of a strategic partnership agreement that seeks to further redefine Nigeria’s energy landscape with the multilateral finance group – International Finance Corporation ("IFC") – signals a joint commitment to advance renewable energy developments.
The pilot for this initiative is located within the Tokarawa Industrial Hub in Kano State and it involves setting up a generation and distribution system to meet 70MW of unsuppressed energy demands of industrial activities, commercial enterprises, and residential customers in an area covering about 9,000 connections.
“We are excited to partner with the International Finance Corporation to advance the transition to energy efficient solutions in Nigeria, an institution that shares our commitment to sustainable development, our focus is to empower the customers with a resilient and environmentally friendly energy solution that will optimize productivity and reduce carbon footprint ” said Mr. Yusuf Umar, Program Manager, RIPLE.
“Dan Croft, Regional Manager Africa, IFC said, “Reliable electricity is crucial for improving quality of life, productivity, and economic growth in Nigeria. IFC is pleased to collaborate with our longstanding partner, NSIA, to develop and implement the first phase of this innovative energy solution which will reduce greenhouse gas emissions and reliance on fossil fuel. The energy solution will also deliver reliable power supply for commercial, residential as well as industrial use."
Speaking on the partnership, Mr. Aminu Umar-Sadiq, MD & CEO, NSIA said, "The collaboration between NSIA and the IFC is a clear demonstration of NSIA’s dedication to sustainable energy transition in Nigeria. As the custodian of economic resources for current and future generations of Nigerians, tackling climate risks is integral to NSIA''s objectives. We recognize the many opportunities it offers for innovation, growth, and economic transformation.
RIPLE is another milestone initiative by NSIA in the climate sustainability asset class, having previously lunched Carbon Vista with Vitol and the Construction Finance Warehouse Facility
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The Federal Government of Nigeria (FGN) has identified CCUS as a key technology to support Nigeria''s energy transition and climate targets. CCUS can underpin a long-term role for natural gas in meeting Nigeria''s economic development and energy security goals. CCUS can also support the decarbonisation of Nigeria''s industrial sector along with opening new domestic markets and export opportunities for Nigeria''s gas resources, including through low-carbon hydrogen production.
Recognising the strategic value of CCUS in Nigeria, the IEA is working with the Office of the Vice President of Nigeria (OVP) to build CCUS capacity and identify near-term needs and opportunities for CCUS development and deployment consistent with the country''s energy transition. This joint workshop will bring together Nigerian and international experts to identify and discuss key opportunities, barriers, and needs for CCUS in Nigeria.
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