The World Bank has granted the Federal Government a concessional loan of $750 million for the Distributed Access through Renewable Energy Scale-up (DARES) project.
The President, Solar Energy Society of Nigeria (SESN), Dr. Sunny Akpoyibo; FSESN, who disclosed this in an interview with Journalists, said the fund, currently domiciled in the Rural Electrification Agency (REA), would be deployed as Minimum Capital Cost Subsidies and Performance-Based Grants to private developers of solar mini-grids and solar rooftop systems.
Dr. Akpoyibo said the fund was meant for on-lending and de-risking of investors capital, adding that focus was on access to clean and affordable energy for productive use, especially in the agricultural and educational sectors.
He stated that the Solar Energy Society of Nigeria was founded in the early 80s to drive advocacy and research, advance renewable energy technology in Nigeria, take leadership policy engagement with government and developers, as well as bridge financing gap with development partners and members of the Society.
The SESN President revealed that the 43rd conference of the body, holding in Abuja, was inclusive of manufacturers in renewable energy sector, climate change finance experts, women and youths, pointing out that the essence was to drive ideas and share knowledge of happenings in the sector and discuss how the sector could record a boost from equipment coming into the country.
According to him, these would help to standardise the equipment, differentiate between the original and fake, build capacity to bridge the gap in solar energy technology, amongst others.
Dr. Akpoyibo said capacity building was the key focus of the conference because knowledge was required to be able to access the grants, explaining that the youths, who lacked collateral for accessing the grants, would be linked to investors who could fund their initiatives.
He stated that some Nigerians, who had made invaluable contributions to the advancement of renewable energy, including former First Lady, Maryam Abacha, the Emir of Giade, HRM, Mohammed Sabo Abdulkadir; the Olu of Warri, HRM, Ogiame Atuwatse III; Prof. Omonigho Otanocha, Engr. Kelly Ochuko Egode, Rev. Mrs Joan Agboro-Scheil, amongst others, would be conferred with the Fellowship of the Solar Energy Society of Nigeria.
The Founder/President, Helping Hand for Africa – HH4A, Germany-based Rev. Mrs. Joan Agboro-Scheil; who was nominated for the Fellowship conferment by the South South Coordinator of the Solar Energy Society of Nigeria and Chairman Sub Committee on Membership Mobilization, Amb. Mrs Gloria Umukotete; said the Non Governmental Organisation was committed to girl-child advocacy and believed that everyone, especially the less-privileged deserved to live a decent life.
She added that the organisation had undertaken humanitarian interventions and enhanced the welfare of indigent families in no fewer than five Local Government Areas of Delta State and other parts of Nigeria, while also advocating for sustainable development.
Rev. Mrs Agboro-Scheil said she was happy with the contributions of her NGO to societal growth, which had earned her recognitions in the past, and thanked the Solar Energy Society of Nigeria for finding her worthy of investiture as a Fellow of the body.
Also speaking, another nominee for the SESN Fellowship honour, Engr. Kelly Ochuko Egode; Founder of a United Kingdom-based agricultural technology company, OMFEONIX AGRITECH Limited, said the company was currently developing an intelligent control layer for sustainable agriculture known as AquaECO.
Engr. Egode said his recognition by the Society would add impetus to the development of the AI-enabled tools, make agriculture more sustainable and profitable, as well as enhance food security when fully accomplished.
Meanwhile, the South South Coordinator of Solar Energy Society of Nigeria and Chairman Sub Committee on Membership Mobilization, Hon Amb Gloria Umukotete; has expressed confidence in the leadership of the Society, noting that the Sunny Akpoyibo-led executive had demonstrated unwavering commitment to advancing solar energy technology in Nigeria.
Umukotete, who is also the Assistant Secretary-General of the Council for Renewable Energy of Nigeria (CREN), said the 43rd National Solar Energy Cobference, with the theme: “Bridging Nigeria’s Solar Energy Gap: Accelerating Solar Energy Adoption for Sustainable Development” was not only apt but timely.
