FG Signs Agreement With Eight Indigenous Solar Developers Worth €9.3m

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FG Signs Agreement With Eight Indigenous Solar Developers Worth €9.3m
FG Signs Agreement With Eight Indigenous Solar Developers Worth €9.3m

The Federal Government has signed an award grant agreement with eight (8) indigenous Solar Mini-grid developers for the development of 23 mini-grids across 11 states of the federation under the Interconnected Mini-grid Acceleration Scheme (IMAS).

 

 

The €9.3 million project, which is expected to generate a 5.4-kilowatt peak to connect approximately 27,600 households and impact over 138,000 Nigerians in two years, is coordinated by the Rural Electrification Agency (REA) with support from the European Union and the German government through the Nigerian Energy Support Programme (NESP).

 

Speaking at the grant award signing ceremony on Thursday, Mr. Goddy Jedy-Agba, Minister of State for Power, expressed his satisfaction with the development, which is aimed at achieving the country’s vision of generating at least 30, 000 megawatts of electricity by 2030.

 

 

“The vision 30:30:30, according to the developed and Energy Efficiency Policy, aims to achieve 30,000 Mega Watts of electricity by 2030, with renewable energy contributing 30% of the energy mix.” To accomplish this, Nigeria will need to build over a thousand 100-kilowatt mini-grids, he said.

 

While admitting that the government cannot achieve the target on its own, he stated that it is critical to continue to find creative and innovative ways to achieve it, one of which is through collaboration with development partners and the private sector.

 

“We recognize that one of the major bottlenecks for private sector involvement is financing, which is why the NESP and REA collaborated closely to develop and implement the Interconnected Mini-grid Acceleration Scheme.”

 

“The eight (8) local solar mini-grid developers, Acob Lighting Technology Limited, Gve Projects, Nayo Tropical Technology Limited, Rubitec Nigeria Limited, Darway Coast Nigeria Limited, Havenhill Synergy Limited, Sosa-Protergia Joint Development Company Limited, and A4&T Power Solutions Limited, will receive in-kind grants through REA through the NESP with support from the European Union and the German Government.”

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“We recognize that financing is a major bottleneck for private sector involvement, which is why the NESP and REA worked closely together to develop and implement the Interconnected Mini-grid Acceleration Scheme.”

 

 

“Acob Lighting Technology Limited, Gve Projects, Nayo Tropical Technology Limited, Rubitec Nigeria Limited, Darway Coast Nigeria Limited, Havenhill Synergy Limited, Sosa-Protergia Joint Development Company Limited, and A4&T Power Solutions Limited will receive in-kind grants through REA through the NESP with support from the European Union and the German Government.”

 

“And that’s why the Rural Electrification Agency, with the assistance of NESP, is collaborating to alleviate this bottleneck.” We accomplish this by making in-kind grants available to selected mini-grid developers on favorable and encouraging terms as outlined in the Grant Agreement. The intervention’s main goal is to design and test a tender model for interconnected solar mini-grids, which will invariably lead to the establishment of the Scheme.

 

“What’s great about the iMAS project is that we’ve made sure that all of the developers are Nigerians.” This is to say that the Nigerian energy sector has come a long way since its inception, and we are proud of it.”

 

On his part, NESP Head of Programme Benjamin Duke assured that his team will continue to work to build investor confidence in the sector by developing accurate electricity market intelligence that will provide investors with accurate data about the country’s electricity needs.