- The Rural Electrification Agency (REA) and Oando Clean Energy Limited have signed an MoU to enhance renewable energy access in Nigeria.
- The REA aims to collaborate with the private sector and government agencies to deploy sustainable renewable energy, explore clean energy development, and optimize the role of renewables.
- The REA has connected 1 million solar home systems and implemented over 2,000 electrification projects, benefiting approximately 5 million Nigerians. Meanwhile, Oando Clean Energy Limited partnered with Yutong to introduce electric mass transit buses in Lagos.
The Rural Electrification Agency (REA) and Oando Clean Energy Limited have signed a memorandum of understanding on renewable energy access.
The REA stated this in a recent press release. According to the release, the terms of engagement are:
- To facilitate collaboration between the private sector and government agencies towards the deployment of sustainable renewable energy access across the country.
- Exploring new approaches to clean energy development for socio-economic impact in Nigeria’s post-fuel subsidy era.
- The exploitation of opportunities to optimize the critical role of renewable energy
What you need to know
The REA has strengthened partnerships with key stakeholders in the private sector and state governments through the Nigeria Governors Forum. The agency has successfully connected 1 million solar home systems and implemented over 2,000 electrification projects, benefiting approximately 5 million Nigerians.
They have executed numerous capital projects worth N45.89 billion across the country’s six geopolitical zones between 2020 and 2022. According to the REA, the total installed capacity, under the capital projects, was estimated at over 600 megawatts (MW) equivalent to over 1,000,000 connections.
Meanwhile, in a separate development, Oando Clean Energy Limited partnered with Chinese electric vehicle manufacturer Yutong to introduce electric mass transit buses in Lagos state.
During the MoU signing, the Managing Director/CEO of the Rural Electrification Agency, Engr. Ahmad Salihijo Ahmad said:
- “The REA – Oando partnership will bring about mutually beneficial collaboration, knowledge exchange, and experiences all targeted at achieving the common goal of optimizing renewable energy.
- “The REA has a history of ensuring whatever kind of financing is available to the REA, there are programmes and initiatives the REA implements that can be used to deliver impact across the nation”
Meanwhile, the President and Chief Executive Officer of Oando Clean Energy Limited, Dr. Alex Irune said:
- “Oando is keen on renewable energy and is excited about this opportunity to create value that the country needs. I wouldn’t be signing this MoU today if there wasn’t an enabling environment provided by the REA.
- “I commend the REA for their approaches, programmes, and achievements over the years. These approaches are sustainable.”
Also, the Head of Solar Power Naija Program, Barbara Izilien said the REA will keep working to deepen private sector engagements to expand renewable energy access across Nigeria. She said:
- “The intention for this collaboration is to encourage private sector investment to deploy sustainable renewable energy projects across the country. This MoU signing will support the expansion targets of the REA in providing energy access to communities.”