Nigeria begins decentralisation of energy grid, invests $550m in energy sector

President Muhammadu Buhari mentioned on Tuesday the Federal Authorities has commenced the decentralisation of the

President Muhammadu Buhari mentioned on Tuesday the Federal Authorities has commenced the decentralisation of the nationwide grid to handle the challenges of energy provide throughout the nation.

The President, who said this in an interview with Bloomberg Information, mentioned the federal authorities had earmarked $550 million for the availability of 20,000 Standalone Photo voltaic Techniques (SHS) and Photo voltaic Hybrid mini-grids in not less than 250 places throughout the nation.

He added that the federal government had launched into lots of of initiatives and initiatives attracting funding from native and overseas buyers on the ability grid.

The nation’s nationwide grid has collapsed not less than 4 instances this 12 months, throwing many components of the nation, together with Lagos, Rivers, and Abuja into whole blackout.

Buhari

Buhari mentioned: “We’re additionally decentralising the nationwide grid by means of renewable-driven mini-grids.

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“The $550 million Nigeria Electrification Undertaking has deployed greater than 20,000 Standalone Photo voltaic Techniques (SHS), in addition to Photo voltaic Hybrid mini-grids in over 250 places.

“Take my Presidential Energy Initiative (PPI), a government-to-government initiative between the Governments of Nigeria and Germany, with Siemens AG, to improve the electrical energy grid with a $2 billion funding.

“As soon as signed into regulation, the constitutional modification invoice – not too long ago voted by means of parliament – will permit state governments to generate and transmit their very own electrical energy, additional facilitating investor participation in our market and enabling states and native companies to transmit extra provide to the grid.”

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