State minister for energy and mineral resources, Olalere Odusote, has revealed how the regional authority and the World Bank foresee the breakdown of the 1 GW ambition. Citing a need to invest between $350 million and $700 million in 500 MW of rooftop solar by mid 2027, Odusote said 200 MW of the 1 GW total would be in the form of residential arrays, with the same figure expected on government buildings.
The state of Lagos and the World Bank discussed the plans at a recent workshop. The C&I solar is expected to be owned by leasing companies, with households and public bodies owning their own systems.
The Agasa News reported this week that there is an 83% shortfall between demand and supply of grid electricity in Lagos state, amounting to 33 TWh to 43 TWh. The article said Odusote had described rooftop solar as “one of the potential solutions being considered” to bridge the grid shortfall.
The workshop reportedly concluded the necessary finance for the rooftop arrays would come in the form of grants, equity investment, and cheap loans, provided by donor bodies, equity investors, and commercial lenders.
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