• Contact Us
  • About Us
Thursday, June 19, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Economy

Germany, EU plan 500MW renewable energy for Nigeria

metro by metro
March 5, 2018
in Economy
0
0
SHARES
0
VIEWS

Germany is collaborating with the European Union to increase power generation in Nigeria by 500 megawatts (MW) through renewable energy to serve 100,000 people.

Iner Hommers, The Programme Head, Nigerian Energy Support Programmme (NESP), said in Abuja at a presentation of a compendium of the achievements of the Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ).

Read Also

CBN’s Forbearance Policy, CRR, LRR May Threaten Banks’ Lending, Proposed $1tn Economy

Israel-Iran Conflict May Trigger FDI Decline In Nigeeia, Ghana- Report

Anxiety As CBN Sticks To June 3 Recapitalisation Deadline For BDC Operarors 

Hommers said that 33 million Euros had been earmarked to execute the project which is the second phase of NESP to enhance further developments in Nigeria’s power sector, especially renewable energy.

She said the EU would provide 20 million Euros in the programme while the German government through, its federal ministry of economic cooperation and development, would give 13 million Euros to support it.

”The programme will ensure as part of its schedule that up to 500 MW of solar photovoltaic electricity would be procured and generated to serve about 100,000 people.

“It will also provide support to renewable energy operators to scale up their electricity provision,” she said.

She added that it was also to support Nigeria’s provision of stable data for electrification planning, sustainable on-grid and off-grid electricity, as well as creating an enabling environment for renewable energy and energy efficiency investments.

Hommers explained that the new financial package would be used in the second phase of the NESP which would last from December 2017 to November 2020.

She stated that the first phase of the NESP was successful and contributed in providing electricity to about 10,000 people in Sokoto, Niger, Ogun, Cross River and Plateau.

The European Union Ambassador to Nigeria and ECOWAS, Mr Ketil Karlsen, stated at the event that studies had shown that Nigeria could generate up to 53,950MW of electricity from solar and hydro sources.

He said there was a need for to ensure that right investments were made in this regards.

Karlsen explained that the success of the first phase of the NESP inspired the EU to continue with its support for the second phase.

He called for a replication of the same expertise that was used in implementing the first phase. (NAN)

Tags: renewable energy
Previous Post

VAIDS: Demand for written notice from tax officials, Adeosun advises tax payers

Next Post

Med-view incident : No injuries recorded, says CPC

Related Posts

CBN
Economy

CBN’s Forbearance Policy, CRR, LRR May Threaten Banks’ Lending, Proposed $1tn Economy

June 18, 2025
Dollars
Economy

Israel-Iran Conflict May Trigger FDI Decline In Nigeeia, Ghana- Report

June 16, 2025
Uneasy Calm In Banking Industry Over FG Special Investigator’s Report
Economy

Anxiety As CBN Sticks To June 3 Recapitalisation Deadline For BDC Operarors 

June 12, 2025
Oil Prices Hold Gains, Dollar Steadies Ahead Of US-China Trade Talks
Economy

Oil Prices Hold Gains, Dollar Steadies Ahead Of US-China Trade Talks

June 9, 2025
Next Post

Med-view incident : No injuries recorded, says CPC

Zenith Bank

Zenith Says Dividend Freeze, Temporary, Exits CBN Forbearance Arrangements By End Of June, 2025

June 18, 2025

Angola to Host ATIDI’s 25th Annual General Meeting as Africa’s Multilateral Insurer Marks 25 years of Impact

June 18, 2025
CBN

CBN’s Forbearance Policy, CRR, LRR May Threaten Banks’ Lending, Proposed $1tn Economy

June 18, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

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

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version