NAN-HE-19
Renewable
By Kingsley Okoye
Abuja, Dec.21, 2016 (NAN) Power for All, an international agency canvassing for access to electricity in the rural areas, has advocated deployment of subsequent power intervention funds to develop decentralised renewable energy market in the country.
The Campaign Director of the agency in Nigeria, Ify Malo, made the call in an interview with the News Agency of Nigeria (NAN) in Abuja on Wednesday.
Malo said a good chunk of investments and funding in the electricity sector was being channeled toward developing the grid system which had continued to fail for a number of reasons.
She said resolving the nation’s electricity supply issues, getting a functional and stable grid in place and powering millions of un-electrified households in rural areas would be through grid extension.
“This is why we advocate for a shift to off-grid solutions which are faster to deploy, sustainable and affordable.“
According to her, if funds are made available to the decentralised renewable energy sector, solving Nigeria’s power deficit will become an achievable venture.
“We are advocating that such power funds be used to expand electricity access, using government backed guarantees, which will attract more investment into the sector and unlock consumer financing.
Malo said the funds would help attain economies of scale in the decentralised renewable energy market.
She said such deployment of the funds would enable renewable energy developers and installers to obtain long term financing at reasonable rates.
This, she said, would in turn enable them to sell services and products to end-users at reasonable and affordable rates.
“We hope that future deployment of these intervention funds can be used to jump start the renewable market through credit guarantees to commercial banks and micro-credit organisations to lend to consumers.
She said that the funds could also help develop innovative technology platforms such as smart meters and payback systems that included mobile money and PAYG system.
Malo also said that the channeling of the funds could be used to expand electricity access, using government backed guarantees, which would attract more investment into the sector and unlock consumer financing.
She said that it was important Nigeria deepened its efforts with the collaboration of the private sector to develop decentralised renewable energy.
“ I would like to draw your attention to global trends and what it means for Nigeria and her energy future especially our future electrification patterns.
“ In particular, how fast decentralised renewable energy products are changing global energy landscape.
“While these technologies are not new, the past five years have seen them emerge in leaps and bounds.
“For example, TESLA just announced that it powered the whole of American Samoa, using a 1.4MW mini-grid.
“Australian utilities are beginning to ditch the centralised grid in remote areas as renewably-powered captive systems have become more cost effective.
“The Kenyan solar home system market is now saving families one billion dollars a year.
“Also in Bangladesh, new software breakthroughs are enabling neighbours to create and share solar power and build their own decentralised energy networks.“
She said that huge investors’ interest on decentralised renewable energy sector on a year to year basis had risen to nearly 500 million dollars in investment to date.
According to her, with all the innovations and changes in decentralised renewable energy, Nigeria cannot afford to lag behind in the global energy revolution.
She said it was encouraging that Nigeria was witnessing for the first time concerted efforts to prioritise renewable sources in the country’s energy mix and renewable energy investment.
She said that Nigeria had a huge opportunity to become a key player in the decentralised renewable space and end energy poverty by aligning its policies to meet its objective on renewable energy development.(NAN)
KC/GOM/
Edited by Gregory Mmaduakolam
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