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Tag: solar power

  • Firm seeks support for solar power

    Firm seeks support for solar power

    Chief Executive, SMEFUNDS, Dr. Femi Oye has appealed for support for startups that are poised to shape the future of solar power within Nigeria.

    Highlighting the rapid evolution of solar technology, Oye stressed that the sector is driven by “rapid technological advancements and the ever-increasing urgency of addressing climate change.”

    According to  him, the necessity for continuous growth and innovation in this area is paramount.

    He said: “The dynamic nature of the renewable energy landscape requires constant innovation and vigilance, making solar energy a top priority for governments, businesses, and individuals worldwide”.

    He stated that SMEFUNDS is determined to accelerate the expansion of solar capacity by providing sustainable, long-term renewable energy solutions, while also ensuring minimal environmental impact and supporting local communities’ zero-carbon goals.

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    Oye elaborated on the organisations revolutionising the photovoltaics industry through an innovative model that significantly reduces customers’ electricity expenditure. He explained that the company “offers solar systems, storage units, enabling homeowners to become independent of electricity companies and reduce costs.”

    Furthermore, he noted that his organisation prioritised “breakthrough innovation, customer-centric solutions, and excellence, aiming to shape the future of clean energy,” adding it’s ready to help individuals  and organisations integrate solar panels into various devices to reduce fuel consumption and emissions.

    Beyond energy provision, Oye views the renewable energy and green energy ecosystem as a powerful engine for job creation. He argued that “the expansion of green industrial manufacturing and agricultural production could become the engine of sustainable human development more broadly.” He reiterated the industry’s readiness to expand the nation’s renewable energy sector, assessing the opportunities and challenges in leveraging these new green industries to drive long-term employment, particularly among women, youth, and rural populations.

    Within Nigeria’s nascent green energy ecosystem, Oye observed that “climate-smart and green technologies are emerging as a foundation of its innovation ecosystem of start-up MSMEs and the incubators and accelerators to support them.” He indicated that the  innovation ecosystem has formed “the leading edge of the opportunity for MSMEs.” Addressing household consumption, he maintained that with its KIKE AI kitchen technology, SMEFUNDS has “done so much to enable Nigerians manage gas consumption in partnership with retail services providers. Its subsidiary, Kike Technologies, introduced “Kike Ai,” a pioneering kitchen application with the “ambitious objective of creating 1,000,000 jobs throughout the nation.”  Oye envisions a future where a wider economic transformation will result in a greater scale of private sector employment, supporting retail services and sales start-ups initiatives for sustainable development and green industrialisation.

  • ‘Solar power needs stronger green finance’

    ‘Solar power needs stronger green finance’

    Chief Executive Officer , SMEFUNDS, Dr. Femi Oye, has urged the Federal Government, financial institutions, and investors to strengthen green finance mechanisms to unlock Nigeria’s renewable energy potential and accelerate the nation’s transition to a low-carbon economy.

    Oye said Nigeria possesses one of the largest untapped solar energy markets in Africa, but progress remains slow due to limited access to finance for small and medium-sized enterprises (SMEs) driving the solar revolution.

    “The traditional banking sector is ill-equipped to meet the unique needs of green enterprises. “Renewable energy projects require patient capital and tailored financial products to succeed,” he said

    Oye identified green bonds as one of the most effective instruments to scale the solar industry, explaining that such bonds are designed to raise funds exclusively for environmentally beneficial projects like solar installations.

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    “Green bonds can attract both local and international investors, creating a dedicated pool of funds that can be channeled directly to solar companies, especially smaller ones delivering power solutions to households and off-grid communities,” he explained.

    Beyond green bonds, Oye advocated for innovative financing models such as crowdfunding, public-private partnerships, and digital lending platforms that simplify access to capital for renewable energy ventures. These models, he said, would “provide a lifeline to struggling SMEs” and “accelerate the country’s energy transition, reduce carbon emissions, and create thousands of green jobs.”

    He emphasised that supporting the solar sector is not just an environmental necessity but also an economic strategy. “By enabling more SMEs to provide reliable and affordable solar power, Nigeria can reduce its reliance on fossil fuels, mitigate the effects of climate change, and enhance national productivity and resilience,” he said.

    Oye’s remarks come as Nigeria consolidates its position as a continental leader in green bond issuance. The Federal Government recently floated its third Sovereign Green Bond worth N50 billion to fund sustainable and climate-resilient projects—following earlier issues in 2017 and 2019. Nigeria remains the first African nation to issue a sovereign green bond.

    Despite these advances, Africa continues to play a minor role in the global green bond market, accounting for only about $5 billion of the $2.2 trillion issued globally in 2023. Nigeria’s most recent issuance carries a 19 percent interest rate, reflecting the continent’s higher risk profile compared to countries like France, where green bond rates stand at around three percent.

    Experts believe that while the momentum around green finance is growing, much more needs to be done to unlock affordable capital and power Africa’s renewable energy transformation. “If we can align finance with climate goals, Nigeria will not just light up communities but also power a new era of sustainable economic growth,” Oye concluded.

  • German firm launches lighting, solar power solutions

    German firm launches lighting, solar power solutions

    A new firm, Wecass Braun has launched its presence in Nigeria, unveiling its latest durable German lighting and solar technologies. 

    At the brand opening ceremony, and exhibition of its products in Onipetesi Estate, Ikeja area of Lagos, the firm explained that its solar power solution products were durable, reliable, cost-effective, and could be monitored and controlled from a central control room. 

    In his speech, International CEO, Wecass Braun, Engr. André Braun noted that the alternative power solutions are environmental friendly, and the latest lighting and solar technologies can be monitored and switched from a control room. 

    Braun stated that said he completed his training in several electrical and electronic professions in Germany, as well as also trained as a master electrician. 

    While showcasing the firm’s products, Braun said: “We look on projects, and find the right solutions. Look at our streets lights. We’ve a central control room especially for them. We need the right product for this time. Our solar products also last a long time. They are durable. German products are of great quality.”

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    He further noted that the company has brought the right energy products on the world market as experts in the field to add value to clients in the country.

    Braun said: “Nigeria needs the latest and most sustainable technologies. These must be future-proof for an emerging and growing nation like Nigeria. We want customers and infrastructure programmes across Nigeria to rely on sustainable and future-proof products.

    “We want to provide our employees and other people with similar training here. Just like in Germany, we will carry out the theoretical part of the training in our training room next door. And the special thing about our open showroom is that it also serves as a practical venue for our employees and students. The practical part is taught on the exhibits. This means that our customers can rely on us to act professionally even when problems arise.

    “For example, we have here our Waterproof Solar Carport This is a sample and can be extended in modular design. This can be extended or even manufactured in double-sided orientation. Or our great historical lights over there, with the latest LED technology. 

    “You never have to replace the LEDs, just like with these beautiful bollard lights. Our battery cabinets with integrated inverters are compact and long-lasting. We will be happy to show you more later during small guided tours.”

    The country’s CEO, Wecass Braun, Engr. Forster Onyeka Edward said: “Our firm is practical oriented in its ideas. André Braun has the practical ideas. What we are doing here is from our hearts. We want to move Nigeria forward.

    “Technology is very smart. Nobody knows what the prices of fuel may rise up to in the next couple of years. But the solar solution helps to provide alternative energy. That’s why we are bringing better technology. It will help to save cost of spending on fuel.”

    Speaking on the affordability of the products and its training services, Edward said: “We are starting off gradually. All infrastructures installed in the company’s office here are evidence of our work. The people who will be trained are those who will also work for us. We are putting the modules together. The training will commence in September. 

    “For the training, there will be online training for low-level persons. The trainees will also be taken through practical processes.”

    Edward affirmed that goal of the company is to train enough people to open offices in other states to offer the same service in other parts of the country while support will come from the headquarters in Lagos.

  • Presidency justifies solar power project for State House

    Presidency justifies solar power project for State House

    The Presidency has defended the Federal Executive Council’s approval of a N10 billion solar energy project for the State House amid public scrutiny over the cost and timing of the initiative.

    Special Adviser to President Bola Tinubu on Information and Strategy, Bayo Onanuga, made the clarification on his verified X (formerly Twitter) handle, following media reports questioning the necessity of the project, especially in light of Nigeria’s current economic realities.

    Onanuga argued that transitioning the State House to solar power aligns with global best practices, noting that the White House in Washington, D.C., also uses solar energy as part of its power supply.

    “The White House in Washington D.C. uses solar power,” he wrote, implying that the adoption of renewable energy for high-level government facilities is not unprecedented and reflects a commitment to sustainability.

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    Onanuga illustrated his point with video of a similar project executed for the American number residence, which explains the reasons the US Presidency opted for the solar alternative.

    The proposed solar system, it was gathered, would provide stable electricity for the President’s residence, administrative offices, and other essential buildings within the State House complex, enhancing energy efficiency and long-term cost savings.

    While some Nigerians have applauded the environmental benefits of the initiative, others have raised concerns about its price tag and whether such expenditure is prudent at a time when many citizens are grappling with economic hardship.

  • Fed Govt plans massive solar power for public institutions

    Fed Govt plans massive solar power for public institutions

    The Managing Director of Rural Electrification Agency (REA), Abba Aliyu, has said the agncy is planning a massive installation of solar-powered energy to public institutions across the country in the 2025 fiscal year.

    Aliyu announced this during the agency’s budget defence yesterday in Abuja.

    The managing director said the provision of about N500 billion for the agency in the 2025 budget estimate was the biggest in its history.

    Aliyu said President Bola Ahmed Tinubu’s approval of the deployment of solar power in the public sector was intended to cut the cost of governance.

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    He said: “What we did today is to present the 2025 budget proposal, which is the biggest REA’s budget so far in the history of the country. The first key aspect of our 2025 budget is the National Public Sector Solarisation Initiative, an initiative of President Bola Tinubu with a proposal of N100 billion provided.

    “The essence of this initiative is for REA to solarise the public sector. If you look at the data of the budget implementation over the years, you will see the quantum of money used by public institutions to buy generators and diesel to provide electricity.

    “So, the Federal Government now sees it as a way to reduce the cost of governance and provide REA with funding for use to solarise this public institution. This is part of what we presented to the House Committee.”

  • Rockefeller, Bezos firms okay $25m loan for solar power

    Rockefeller, Bezos firms okay $25m loan for solar power

    The Global Energy Alliance for People and Planet (GEAPP), Rockefeller Foundation and Ikea Foundation are working on providing $25 million facility to boost solar power in Nigeria.

    Bezos Earth Fund was founded by Jeff Bezos, a United States billionaire, and the Rockefeller Foundation was established by the late American industrialist, John D. Rockefeller, while the Ikea Foundation was formed by the late Swedish businessman, Ingvar Kamprad.

    The fund will be channeled into providing mini-grid programme in Nigeria to tackle unreliable electricity and boost productivity in the economy.

    According to Bloomberg report, GEAPP formed in 2021, has a programme, demand aggregation for renewable technology (DART), which lowers solar equipment costs by pooling developers’ needs and also offers a $25 million financing facility for equipment imports, repayable in naira.

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    GEAPP’s country delivery lead, Muhammad Wakil, said the pooling arrangement provides savings of up to 30 percent for developers.

     “GEAPP provides grants, loans, and technical assistance to mini-grid developers, taking advantage of a government rule introduced last year that allows mini-grids to operate alongside national grids. This programme’s success has led the World Bank to pledge $130 million for similar facilities,” Wakil said.

    “The site in Ogun State is a one-megawatt solar mini-grid built by Darway Coast, a Nigerian mini-grid company. By the end of the year, it will provide the local community with 24-hour electricity, replacing the eight hours currently supplied by Ikeja Electric Plc.”

    The publication also reported that GEAPP helped build the first interconnected mini-grid in December in Nigeria, adding that two more are under construction, with funding available for a fourth.

    The facilities, according to the report, are operated by private developers and supplement the limited hours of supply from the national grid to power businesses and homes continuously.

    Wakil said thousands of similar projects are needed across Nigeria to eliminate energy poverty.

    He explained that, initially, GEAPP aims to build a pilot project in each of the regions served by Nigeria’s 11 power distribution companies (DisCos), with a long-term plan to facilitate 10 gigawatts of mini-grids, however, the programme complements efforts to establish mini-grids in areas without access to the national power grid.

    “We need hundreds or thousands of these kinds of projects across Nigeria to end energy poverty,” Wakil said.

    Power Purchase Manager at Ikeja Electric, Fatima Haliru, said everybody is open to creating energy and selling to customers based on the provision of the Electricity Act.

    Haliru said instead of engaging Darway as competitors, “it’s better to engage them as partners”.

  • Prime Teknologies UK to build utility-scale solar power plant in Nigeria

    Prime Teknologies UK to build utility-scale solar power plant in Nigeria

    Prime Teknologies, a disruptive technology company in the UK and provider of renewable (photovoltaic) energy solutions, is poised to aid  the power generation sector in Nigeria with the establishment of a utility-scale Solar Power Plant in Nigeria.

    The 25 Megawatt photovoltaic (PV) power generating plant represents a significant step towards addressing the energy needs of Nigeria and promoting renewable energy and sustainable development.

    Collaborating with their global partner experts in renewable energy deployment, Prime Teknologies UK is leveraging its expertise to implement clean energy solutions across Nigeria  where communities have hybrid electricity options, with local Solar plants supporting the national grid in generating, transmitting and distributing uninterrupted power.

    With over 100 gigawatts of power generated across 30+ countries worldwide, including the UK, Spain, South America, India, China, Saudi Arabia, UAE, Uganda, Zambia, Kenya, Ghana, and many others, Prime Teknologies and partners are committed to driving positive change through various renewable energy initiatives.

    Heading the project is Charles Scott-Emuakpor, CEO of Prime Teknologies UK.

    Under his leadership, Prime Teknologies UK has assembled a team of seasoned professionals with extensive experience in the Nigerian power sector.

    Engr. Francis Okosobo-Ibe, a Consulting Power Systems Engineer and former business leader at multiple districts of the NEPA/PHCN (Rtd), is among the key team members driving the success of the Solar Power Plant project.

    “We are building the largest utility scale power plant in Nigeria so far” Charles Scott-Emuakpor said.

     “One of the key drivers behind our initiative is the pressing need to address Nigeria’s energy challenges with sustainable solutions, and the Prime Solar Power Plant represents a significant milestone in our commitment to promoting clean, reliable energy sources in Nigeria and beyond.

    “By incorporating innovative technologies like Battery Energy Storage System (BESS) doing the energy storing at capacity for off-peak distribution alongside PV modules doing the energy harvesting, we aim to maximize the efficiency and reliability of this Renewable Power Plant and the many others to come,” he added.

    “This approach underscores our dedication to providing clean, affordable and sustainable electricity to Nigerian homes and businesses, while also contributing to the nation’s sustainable development goals.”

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    Uche Ndubuokwu, Operations Lead for the project, emphasised the importance of renewable energy in addressing electricity scarcity in Nigeria.

    “Our goal is to provide electricity from a renewable source to thousands of Nigerians, thereby easing the strain on the national grid and fostering a more sustainable energy future for the country,”  Ndubuokwu states.

    In addition to collaborating with foreign partners, Prime Teknologies is working closely with Federal and State governments on the project.

    The Federal Ministry of Power and the  Innovation, Science & Technology Ministry (FMIST) have shown keen interest in supporting renewable energy initiatives, further underscoring the importance of this project.

    Prime Tek is also in communication with the National Electricity Regulatory Commission (NERC), on due diligence.

    Beyond its economic benefits, Prime Tek’s Solar Power Plant will have a significant social impact, creating over 2000 local jobs during the construction phase and providing ongoing employment opportunities in operations and maintenance.

    This commitment to local empowerment aligns with the company’s  vision of fostering sustainable development and addressing climate change challenges.

    As Prime Teknologies UK prepares to embark on this transformative journey, the company remains dedicated to its mission of driving positive change through innovations.

    By leveraging innovative technologies and fostering strategic partnerships, Prime Teknologies UK is poised to make a lasting impact on Nigeria’s energy sector and contribute to a greener, more sustainable future.

  • Solar power beneficiaries in Ondo to pay N500 monthly

    Beneficiaries of the stand-alone solar power in Upare and Igbobini communities in the Ilaje Local Government Area of Ondo State are to pay N200 to N500 monthly billing per household.

    The decision was reached at stakeholders’ meetings held in each of the communities with officials of the Office of Public Utilities (OPU) and the power service provider, RR Reynolds.

    Acting Secretary of OPU Mrs Abike Bayo-Ilawole told reporters after the meetings that it was agreed that, starting from August, each beneficiary household would pay between N200 and N500 per month, depending on the capacity of the installation in the home. She said the communities had been using the solar power free of charge, for months as a palliative measure from the state government.

    Bayo-Ilawole recalled that for years, the communities did not get power supply from the national grid before the solar power intervention.

    She disclosed that a five-man Cluster Off-take Unit (COU) committee was constituted in both communities to liaise with the residents over complaints on installations and payment of bills.

    The acting Secretary added that they would meet with the service provider to fix all technical problems complained of by the users.

    Meanwhile, some of the beneficiaries of the solar power at Ebute Upare have complained that rodents have eaten up some cables, preventing them from getting light.

    A handful of them also narrated how the power got exhausted, particularly when it rained for longer period of the day.

    The traditional ruler of Ebute Upare, Oba Segun Akinyomi, who was represented by High Chief Ikuejamoye John, appreciated the state governor, Rotimi Akeredolu for the power intervention in his community.

    Oba Akinyomi, who confirmed that the community had not enjoyed electricity supply for years, urged Reynolds to improve on the solar facilities for all residenst to assess.

    Speaking in the same vein, Oba Oyedele Raphael, the Olu of Igbobini, alleged that the electricity distribution company covering their area had demanded over N200 million from the community and others to reconnect them to national grid.

    Oba Oyedele said he had to shut down his frozen water business when there was no electricity supply to run it.

    He explained that a lot of business ventures had to close down in the communities because it was not viable to run them on power generating sets.

    The monarch praised the state governor for the palliative measures which he said had prevented them from living in darkness.

    He appealed to the service provider to upgrade the capacity of the standalone solar power to allow the people use different electrical appliances for both business and social activities.

    Oba Oyedele, who said that about 10 per cent of the 1550 houses in the community were beneficiaries the solar power, called for supply of more installations.

    He assured that the communities would ensure that the facilities were protected from vandals.

  • FirstBank, Azuri partner on solar power

    Azuri Technologies, a leader in pay-as-you-go solar technology and First Bank of Nigeria Limited, have signed agreement to enter into a unique partnership that will help deepen financial inclusion in Nigeria while bringing affordable, reliable and clean power to millions of Nigerians.

    Under the partnership, Azuri’s solar home TV product, will be co-branded and co-marketed by FirstBank and Azuri. Pay-as-you-go customers will be able to pay for their solar via FirstBank’s Firstmonie agent network and mobile payment solution. Firstmonie agents are positioned within rural and semi-urban locations across the country and provide basic financial services such as account opening, cash deposit, cash withdrawals and bill payments. First Bank has the reach in Nigeria with 750 branches and 16,000 agents. Azuri Technologies will leverage these branches and agents to reach every part of Nigeria.

    More than 60 million out of about 200 million people do not have bank accounts and as little as six percent of people have a mobile money account, according to World Bank report in 2018.

    Speaking on the partnership, the Chief Executive of Azuri Technologies, Simon Bransfield-Garth and FirstBank Chief Executive Officer, Adesola Adeduntan, stated the partnership was a positive step in providing much needed energy and enabling access to financial services in rural, low-income areas.

     

  • First Bank, Azuri partner to give Nigerians solar power

    …Deepen financial inclusion

     

    Azuri Technologies, a leader in pay-as-you-go solar technology, and First Bank of Nigeria Limited have signed agreement to enter into a unique partnership that will help deepen financial inclusion in Nigeria while bringing affordable, reliable and clean power to millions of Nigerians.

    Under the partnership, Azuri’s solar home TV product will be co-branded and co-marketed by FirstBank and Azuri. Pay-as-you-go customers will be able to pay for their solar via FirstBank’s Firstmonie agent network and mobile payment solution. Firstmonie agents are positioned within rural and semi-urban locations across the country and provide basic financial services such as account opening, cash deposit, cash withdrawals and bill payments. First Bank has the reach in Nigeria with 750 branches and 16,000 agents. Azuri Technologies will leverage these branches and agents to reach every part of Nigeria.

    More than 60 million out of about 200 million people do not have bank accounts and as little as six percent of people have a mobile money account, according to World Bank report in 2018.

    Speaking on the partnership, the Chief Executive of Azuri Technologies, Simon Bransfield-Garth and FirstBank Chief Executive Officer, Adesola Adeduntan, stated the partnership was a positive step in providing much needed energy and enabling access to financial services in rural, low-income areas.

    “This partnership combines the reach of FirstBank with Azuri’s technology and pay-as-you-go solar expertise to bring next generation power to off-grid consumers in Nigeria” said Bransfield-Garth.

    “Azuri and FirstBank share the vision of a level playing field where all consumers have the ability to benefit from modern financial and digital services, regardless of where they live and this agreement is another step in making that vision a reality,” he added.

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    According to FirstBank’s chief, “Financial inclusion is a priority with FirstBank and we are excited that with this partnership, our customers are able to access a wide range of services that address real problems such as access to power. With our over 16,000 Firstmonie Agents spread across the length and breadth of Nigeria, our customers are at an advantage in enjoying seamless financial services from the Bank that puts them first.”

    From solar home lighting to solar satellite TV, Azuri systems are designed to deliver world class performance at an affordable price for all customers that experience irregular power supply. Customers make small weekly or monthly payments to unlock their system and power.

    Pay-as-you-go solar is transforming lives by providing energy for lighting, phones and TVs while helping boost local economies with new employment opportunities and connecting off-grid households to financial and digital services that are helping improve productivity and increase income.