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Energy

NSIA launches $300m renewable energy fund for Nigeria

The Nigeria Sovereign Investment Authority has launched a $300 million Nigeria Distributed Renewable Energy Fund aimed at accelerating private-sector investment in renewable energy and expanding electricity access to underserved communities and businesses. The Fund achieved its commercial launch milestone on the sidelines of the United Nations General Assembly in New York, signalling the shift from […]

EU to criminalize AI-generated porn images, deepfakes
Energy

EU, S’Africa secure €15.5bn for African renewable energy

A year-long international campaign to fast-track renewable energy investment across Africa has closed with commitments totalling €15.5bn, driven predominantly by the European Union. The initiative, jointly led by the President of the European Commission, Ursula von der Leyen, and the South African President, Cyril Ramaphosa, seeks to expand clean-energy generation, improve electricity access for millions […]

Energy

China to drive Africa’s renewable energy revolution – Report

China has an extraordinary opportunity for an energy revolution in Africa, but first, it must overcome almost two decades of neglect regarding investment in green power there, research from Boston University showed on Tuesday. Since the beginning of the century, Beijing has emerged as the largest bilateral trade partner on the African continent and financed […]

REAN to invest over $80m in renewable energy
News

REAN to invest over $80m in renewable energy

  By Wilson Adekumola   President, Renewable Energy Association of Nigeria, Mr Ayo Ademilua, has disclosed that 80 million dollars is available for energy projects in the country for its members through investors. Ademilua made this known during the Renewable Energy Investment Matchmaking event in Lagos with the theme, ‘Energising Partnerships: Connecting Investors to Transformative […]

WATT secures $13m investment for renewable energy in Nigeria
Business

WATT secures $13m investment for renewable energy in Nigeria

Empower New Energy has invested $13 million in WATT Renewable Corporation, a privately held hybrid solar solutions supplier. The Times reported that the business asserted that this sizeable investment will spur its efforts to advance renewable energy options in Nigeria. The funding also represents Empower New Energy’s biggest investment to date. Hybrid solar energy solutions are WATT’s […]

Business

Nigerian institute invests in renewable energy training

The National Power Training Institute of Nigeria has announced that it has made investments in the renewable energy sector by providing extensive training to create an efficient workforce for the power sector. According to The Punch, the announcement was made during an alumni seminar held in Lagos on Wednesday with the theme ‘Continuous Professional Development: […]

G7 Nations to speed up renewable energy, phase out fossil fuel
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G7 Nations to speed up renewable energy, phase out fossil fuel

The G7 nations have agreed to hasten the deployment of renewable energy and curtail natural gas consumption in a bid to accelerate the phasing out of fossil fuels, according to a communique issued on Sunday. The G7 is an informal grouping of seven of the world’s advanced economies, including Canada, France, Germany, Italy, Japan, the […]

EU invests €3bn, generates 160,000 jobs in Nigeria yearly - Ambassador
Business

EU to increase renewable energy target by 2030

The European Union on Thursday made a provisional agreement on increasing renewable energy targets, a key component of the EU’s strategy to combat climate change and reduce reliance on fossil fuels from Russia. Reuters reported that negotiators from the European Parliament and the Council, who represent EU member states, agreed that by 2030, the EU […]

Energy

Global renewable energy hits 9.6% increase in 2022

The total amount of renewable energy capacity worldwide reached 3372 gigawatts, representing an increase of 295 gigawatts or 9.6 per cent at the end of 2022. A noteworthy 83 percent of the entire power capacity added last year was generated by renewable sources. Renewable energy has continued to grow at a remarkable pace  indicating a […]

Energy

World Bank funds Africa renewable energy project with $311m

Oluwanifemi Ojo   The World Bank has signed an agreement with four African countries, Chad, Liberia, Sierra Leone, and Togo, worth $311 to fund renewable energy projects. The new Regional Emergency Solar Power Intervention Project was approved by the World Bank in December 20, 2022 with the aim of accelerating grid-connected renewable energy systems. Also […]

Power generation dropped 43mw after worker's strike - FG
Electricity

92 million Nigerians lack access to electricity – Report

Nigeria has the lowest access to electricity globally, with about 92 million persons out of the country’s 200 million population lacking access to power, the Energy Progress Report 2022 released by Tracking SDG 7, has revealed. The report, produced in conjunction with the International Energy Agency, International Renewable Energy Agency, United Nations Statistics Division, the […]

Energy

Nigeria’s renewable energy investment potential hit $104bn – UK

Climate-smart investment potential in Nigeria, particularly in the renewable energy sector, is worth over $104bn, the United Kingdom High Commission has said. In his address at the Carbon Chamber Conference of the Abuja Chamber of Commerce and Industry, the Head of Climate Change and Energy West Africa, UK High Commission, Sean Melbourne, said the gradual […]

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