Norwegian firm Empower New Energy Signs $6.5 Million Solar Power Deal in Lagos, Nigeria

Apr 24, 2023 03:42 PM ET
  • Norwegian renewable resource investment firm, Empower New Energy, has recently authorized a $6.5 million worth solar power deal in Lagos. The business has actually started a collaboration with the Nigerian clean energy firm, Powercell Limited, to work with a project that aims to decrease contamination as well as increase clean energy use in the nation.
Norwegian firm Empower New Energy Signs $6.5 Million Solar Power Deal in Lagos, Nigeria
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The agreement was signed throughout the opening of the Lagos-Norway Energy Exchange with the support of the Nigerian Ministry of Energy and also Mineral Resources. The Exchange online forum was arranged by the Royal Norwegian Embassy in Abuja as well as Norwegian Energy Partners (Norwep) for Norwegian business to comprehend energy challenges and also present green options in Nigeria.

Terje Osmundsen, CEO of Empower New Energy, claimed the current offer is the biggest solar investment for Empower New Energy in Nigeria thus far. Their partnership with Powercell will certainly help in replacing diesel generators with solar PV power and batteries in several shops of Justrite Limited Group, a leading maker of safety and security cupboards as well as storage devices in Nigeria.

Olalere Odusote, Lagos State Commissioner for Energy, claimed the state plans to produce a sustainable power market with a goal of reducing the reliance on fossil fuel and boosting the use of renewable resource. According to the Commissioner, the State government has actually set the target of producing 1,000 MW of solar energy by 2030.

Odusote additionally mentioned that the Lagos state head and officials held a meeting on the Lagos Platform for Development (LAPD) Initiative and the technological support for the effort which will be provided by the World Financial institution. Projects such as establishing the State Electricity regulatory authority as well as creating the Independent Systems Operator (ISO) for the arising Lagos electricity market will certainly also be taken on.

Anniken Huitfeldt, Norway's Minister of Foreign Affairs, claimed the current advancements and steps taken by the Lagos federal government will certainly press energy business in the direction of clean modern technology and attract green investments. Norway as well as Nigeria have actually been partnering in energy offers for the last few decades and also both countries will certainly share and use the essential innovation & knowledge in the green change.

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