The bridge the nation’s huge energy deficit, the Nigerian Electricity Regulatory Commission (NERC), has disclosed plans to add 5,000MW of electricity from renewable energy to the country’s energy mix by 2030.
The power generation improvement plan was unveiled at the weekend, by NERC’s Head of Renewable Energy/Corporate Planning and Strategy, Mr. Jonathan Okoronkwo, at a webinar organised by the Major Energies Marketers Association of Nigeria(MEMAN) with the topic “Energy Transition through Solar Energy.
He explained that under the National Renewable Energy Action Plan(NREAP),aims to diversify Nigeria’s energy mix by increasing the contribution of renewable energy sources to the national grid.
Okoronkwo added that the action plan sets a target of 30 per cent renewable energy in Nigeria’s energy mix by 2030, with specific milestones for solar, wind, biomass, and hydroelectric power.
He stressed that solar energy, particularly large-scale solar projects is a significant focus due to Nigeria’s high solar insolation.
However, he said, the entry barrier remained a major setback for would-be solar energy users due to the initial cost.
But to reverse this constraint, he said, government should offer tax breaks, low interest loans, and grants to reduce the initial capital costs associated with solar energy projects. He added that government can provide risk-sharing mechanisms to encourage private sector investment in solar projects.
‘‘Import duty waivers on solar thermal equipment and components can significantly reduce project costs. Waiving land acquisition fees and providing expedited environmental clearances can fast-track solar energy project development,’’.
Earlier in her keynote address, Engr. Abiola Kosegbe, Permanent Secretary of Lagos State Ministry of Energy and Mineral Resources, emphasized the importance of collaboration among various stakeholders, including government agencies, to advocate for policies supporting the growth of the solar energy sector in Nigeria.
She highlighted the transformative potential of renewable energy, particularly solar, wind, and hydro, in meeting Nigeria’s energy needs while reducing reliance on fossil fuels.
According to her, Lagos State has set an ambitious target to generate 50 per cent of its electricity from renewable sources by 2030, with initiatives like the “Solar for All” program playing a crucial role in achieving this goal.
Kosegbe stressed the need for continued investment in infrastructure, supportive policies, and collaboration to sustain the growth of renewable energy in Lagos and across Nigeria.
Source: thesun
