FG’s $200m New Renewable Energy Deal to Impact Several Rural Communities
Samuel Mobolaji
Nigeria is targeting to reach more ruralcommunities with stable electricity as it enters into a $200 million deal with WeLight, a pan-African Distributed Renewable Energy (DRE) company.
The agreement aims at deploying hundreds ofrenewable mini grids, to bring reliable electricity to millions in ruralcommunities and those surrounding urban centres.
Nigeria is seeking to increase its renewableenergy share of its electricity mix from 22 per cent to important step in thisregard.
The project backed by the World Bank and theAfrican Development Bank (AfDB) will develop and operate 400 mini grids and 50MetroGrids across Nigeria’s mostly rural areas to improve electricity access toan estimated 1.5 to 2 million people and boost local economies.
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WeLight, backed by major international playerslike Axian Group, Sagemcom, and Norfund said it signed on Monday a Memorandumof Understanding (MOU) with Nigeria’s Rural Electrification Agency (REA), agovernment agency tasked with helping millions of Nigerians withoutelectricity.
“This MOU not only represents a leap towardproviding clean electricity to millions in Nigeria but also supports WeLight’sambition to become a truly pan-African company,” said the chief executiveofficer (CEO) of WeLight, Romain de Villeneuve, in a statement.
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