The former need not necessarily relate to conventional lithium-ion batteries, however, as a recent webinar staged by Solarpower Europe and EU body GET.invest discovered.
The private-sector arm of the World Bank, which claims to leverage $3 of its own capital and $8 from third parties for every dollar invested in its blended finance funds, has attempted to quantify what devoting Covid recovery funds to green investment would mean for emerging economies.
The Kenyan financial services business has been developing rural mini grids across Africa and has announced plans to show its rivals how such networks can thrive, in a bid to accelerate access to electricity on the continent.
Covid-19 rescue measures such as delaying electricity bill payments pile added pressure onto energy companies already hit by pandemic-related falls in demand in a continent which a new study suggests is too dependent on donor aid for the development of renewables.
Renewable energy training institutes are springing up all over Nigeria, empowering an army of young people with solar technology skills in a country where unemployment is a huge challenge.
With a previous 50-50 split between equity and debt investment funding for the off-grid market lurching to 84% borrowing, and commentators stating most of this year’s backing was agreed before the onset of Covid-19, fears are mounting about the prospects for the sector.
Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.
Lumos Global has received US$35 million to fund its off-grid solar home systems installation project in Nigeria.
Almost 60% of Nigeria’s population currently has access to electricity. But this breaks down as 78% in cities and urban areas, and just 39% in rural communities. The Rural Electrification Agency (REA), established by the government as part of electricity sector reforms in 2005, is tasked with bridging this gap and bringing reliable energy supply to the most remote parts of Nigeria. pv magazine spoke with REA CEO Ahmad Salihijo Ahmad about the organization’s strategy and recent progress, as well as the challenges that remain for rural electrification in Nigeria and the role of PV technology.
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