• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Energy

Amid global renewable energy growth, Nigeria would add only 1 GW by 2027 – IEA

Omono Okonkwo by Omono Okonkwo
December 7, 2022
in Energy
How renewables would help Nigeria
Share on FacebookShare on TwitterShare on Linkedin

The International Energy Agency (IEA) said in its 2022 renewables report that Nigeria’s renewable energy growth would be 1 gigawatt (GW) by 2027.  

According to the report, Nigeria would add 1 gigawatt (GW) of renewable capacity between 2022 and 2027, less than the expected growth in South Africa, Ethiopia, Tanzania, Angola, and Kenya.

The report also noted that Nigeria currently lacks enabling policies for large-scale renewables. And the situation hinders the extensive development of renewable energy. 

RelatedStories

Renewable energy can boost year-round farming, cut farmers’ post-harvest losses – Agric Sector Skills Council Boss 

Renewable energy can boost year-round farming, cut farmers’ post-harvest losses – Agric Sector Skills Council Boss 

March 26, 2025
Reps move to probe why FG’s N3.4bn solar power project failed, FG inaugurate a 7.5KW solar mini grid in Anambra state.

Despite massive government investment, solar power adoption in Nigeria remains low—here’s why 

March 24, 2025

This challenge also hampers energy access when placed side-by-side with constant power outages caused by ageing infrastructure.  

Global growth: The IEA report noted that on a global level, renewable energy will account for over 90% of global electricity capacity expansion, noting that capacity expansion in the next five years will be much faster than what was expected just a year ago. The report stated: 

  • “Over 2022-2027, renewables are seen growing by almost 2400 GW in our main forecast, equal to the entire installed power capacity of China today.”   

Regional capacity: The IEA report projects that Sub-Saharan Africa’s renewable power capacity is expected to almost double with the addition of over 40 GW from 2022 to 2027. South Africa, Ethiopia, Tanzania, Angola, and Kenya will account for over 60% of all renewable capacity additions in the period highlighted.  

Global energy crisis: According to the IEA report, energy security challenges as a result of the Russia-Ukraine war, have led to a truly global energy crisis. 

  • However, this crisis has kickstarted unprecedented momentum for renewable energy across countries. The report pointed out that fossil fuel supply disruptions have underlined the energy security benefits of domestically generated renewable electricity, leading many countries to strengthen policies supporting renewables.
  •  Meanwhile, higher fossil fuel prices worldwide have improved the competitiveness of solar PV and wind generation against other fuels.    

More projections for renewables: The IEA report projects that renewables will become the largest source of global electricity generation by early 2025, surpassing coal. Renewable energy share of the power mix is forecast to increase by 10 percentage points over the forecast period, reaching 38% in 2027. 

In the same vein, electricity from wind and solar PV will more than double in the next five years, providing almost 20% of global power generation in 2027. These variable technologies account for 80% of the global renewable energy generation increase over the forecast period, which will require additional sources of power system flexibility.  

In case you missed it: On September 29, Nigeria’s Rural Electrification Agency (REA) launched the four-year Africa mini-grids program (AMP). The program will support access to clean energy by increasing financial viability and promoting scaled-up commercial investment in renewable energy mini-grids, with a focus on cost-reduction levers and innovative business models.  

 


Follow us for Breaking News and Market Intelligence.
Tags: International Energy Agency (IEA)Renewable EnergyRenewable energy growth in Nigeria
Omono Okonkwo

Omono Okonkwo

Omono Okonkwo is an accomplished Mass Communicator, with a remarkable track record spanning over a decade across various dimensions of the field. Her proficiency encompasses Print, Digital, and Broadcast Journalism, Copywriting, Research and Writing, Podcasting, Public Speaking, as well as a comprehensive grasp of Energy Markets. Her engagement in energy market coverage commenced officially in 2016, as she assumed the role of a country correspondent (Nigeria) with Natural Gas World, a subsidiary of Minoils Media based in Vancouver, Canada. Since then, Omono Okonkwo has consistently demonstrated excellence and left an indelible mark on the ever-evolving energy sector.

Related Posts

Renewable energy can boost year-round farming, cut farmers’ post-harvest losses – Agric Sector Skills Council Boss 
Agriculture

Renewable energy can boost year-round farming, cut farmers’ post-harvest losses – Agric Sector Skills Council Boss 

March 26, 2025
Reps move to probe why FG’s N3.4bn solar power project failed, FG inaugurate a 7.5KW solar mini grid in Anambra state.
Energy

Despite massive government investment, solar power adoption in Nigeria remains low—here’s why 

March 24, 2025
ETAFA initiative, Electricity Act, GEP
Energy

Nigeria installs 73 MW of solar in 2024, contributes to Africa’s renewable energy surge

March 14, 2025
AfDB partners with Germany to expand energy access, private sector growth in Africa   
Energy

AfDB partners with Germany to expand energy access, private sector growth in Africa   

February 26, 2025
Tinubu pledges 50% renewable energy mix to achieve universal energy access by 2030 
Energy

Tinubu pledges 50% renewable energy mix to achieve universal energy access by 2030 

January 28, 2025
FG launches NEXTGEN RESCO Programme to empower Nigerian youths in renewable energy 
Business News

FG launches NEXTGEN RESCO Programme to empower Nigerian youths in renewable energy 

January 24, 2025
Next Post
GMB Building new

FGN Sukuk Series V - Greenwich Merchant Bank supports the Federal Government to raise N130 Billion for Infrastructure Projects

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • NDLEA intercepts 157,800 bottles of codeine syrup worth over N1.1 billion at Rivers State 
  • Nigeria’s crude oil export falls by over 16% to N12.95 trillion in Q1 2025
  • Lagos govt seals Okota building for channeling raw sewage into public drainage 

Follow us on social media:

Recent News

NDLEA intercepts 157,800 bottles of codeine syrup worth over N1.1 billion at Rivers State 

NDLEA intercepts 157,800 bottles of codeine syrup worth over N1.1 billion at Rivers State 

June 15, 2025
Latest crude oil price drop threatens Nigeria’s revenue and naira stability 

Nigeria’s crude oil export falls by over 16% to N12.95 trillion in Q1 2025

June 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics