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Nigeria ‘On The Verge’ Of Getting N108b Investment For Clean Energy

Nigeria is about to get N108b funding to give clean energy solutions a heavy push towards realisation.


The country’s electricity has been at best epileptic and at worse, simply non-existent. Besides the fact that electricity generation is way below demand, there is a situation of constant faults and damages. In 2019 alone, the power grid in charge of generating and distributing electricity for the whole nation collapsed about 11 times.


Also, another issue is that most of the electricity is generated by burning fossil fuels. This is a major contributor to climate change.


Now, in a positive direction, the authorities are exploring alternative cleaner energy solutions. According to The Guardian article, Oyo State governor, Seyi Makinde, received representatives from Triton Solar to this effect.

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Triton Solar is a United States energy company and they had met with the governor in Ibadan. At the meeting, Mr Bhagi Sandilya, The Managing Partner and Global Head of Business of Triton Solar said:


“The total investment worth of this plant is $100m or more over five years, starting with $25m in the first year.


We need 20 percent funding commitment from state or local financier partner.”


Further, the solar panel manufacturing company also makes lighting and battery equipment. They would have three plants in Lagos, Oyo and in Abuja. Marking their presence in some of the biggest states in Nigeria as well as the Federal Capital Territory.


However, one should take note that these regions do not get the most sunshine in the country. Why there is no plant situated in hotter regions is not explained. But this looks like a start and it may reach these regions later.


Chief Temitope Ajayi, the Chief Executive Officer of Silicon Valley Nigeria Economic Development Inc, also attended the meeting. She commended governor Seyi Makinde for his efforts towards making solar power dependency a possibility.


Also, she personally was pushing for the clean energy generation initiative to help boost Nigeria’s energy sector. Not only this, but it will also provide employment opportunities.


She told The Guardian:


“This remain[s] the only solution for Nigeria to have adequate power supply and attract investment to create massive employment for our teeming youths.”


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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.

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