Key highlights
- Empower New Energy has signed a solar deal in Lagos with the support of the state Ministry of Energy and Mineral Resources
- Lagos state has plans to explore renewable energy further to reduce pollution and expand clean energy use in the state
- The Lagos state government is partnering with the World Bank to create a state electricity regulator.
Renewable energy company, Empower New Energy, has signed a $6.5 million solar deal in Lagos. The company is collaborating with a Nigerian company, Powercell Limited, to develop a renewable energy project. This was made known by the company’s Chief Executive Officer, Terje Osmundsen via a post on his LinkedIn account on Monday, April 17. According to Osmundsen, the deal is the company’s largest solar investment so far. His statement read:
“This morning, in presence of Norway’s Foreign Minister; Anniken Huitfeldt Norwegian Ministry of Foreign Affairs, and Lagos State Commissioner Olalere Odusote, I proudly signed the agreement that will result in Empower New Energy’s largest solar investment so far.
“Partnering with Powercell’s Tayo Balogun, the $6.5 million investment will replace diesel generation with solar photovoltaic (PV) and batteries at 10 stores of the amazing Justrite Limited group, a company dedicated to bringing healthy groceries to unserved communities in Nigeria. A great step forward! Thanks to Royal Norwegian Embassy in Abuja Norwegian Energy Partners (NORWEP) Eivind Fjeldstad for organizing the exchange.”
In line with the Lagos state energy plan
In a series of tweets earlier today, the Lagos state Honorable Commissioner for the Ministry of Energy & Mineral Resources, Olalere Odusote had earlier today, said that Lagos seeks to increase electricity accessibility and reliability. The state intends to do this in a few ways including creating a sustainable electricity market that will reduce reliance on the national grid, and polluting generators and increasing the use of renewable energy in the state. He said:
“It was an honor to have joined the Governor and other members of the cabinet to meet Mr. Shubham Chaudri, Country Director Nigeria, Western and Central Africa of the World Bank. We had conversations about the Lagos Platform for Development (LAPD) Initiative and the technical support offered by the World Bank towards this initiative. The LAPD prioritizes preliminary ideas of investment, prioritization, and project bankability.
“Some of the potential projects include actualizing the emerging Lagos electricity market by creating an Independent Systems Operator and setting up the State Electricity regulator. We will also provide support for areas with low power supply using renewable energy sources.”
In the Lagos state government electricity policy document, Odusote noted that the Policy will serve as a key enabler for Lagos State’s aspiration to become an advanced economy by driving the achievement of universal access to reliable and affordable electricity in the state. His administration believes this will improve the ease of doing business and boost the economic growth of the state.
What you should know
Nairametrics had previously reported that the Lagos State Governor, Babajide Sanwo-Olu, said that the constitutional amendment granting states the power to generate, transmit and distribute electricity has helped Lagos state in its quest to develop the Lagos Electricity Market. He said:
“We are committed to achieving 1 gigawatt (GW) of solar energy in Lagos by 2030 and have engaged with the World Bank for suitable funding. With the creation of the Lagos Electricity Market, we will fulfil our potential as Africa’s model mega city.”
