A loan of $66m and $8m was granted to Nigeria for the solar project after it joined other countries to sign the International Solar Alliance (ISA) in March 2018 in New Delhi, India.
Intensifying its collaboration with India on clean energy, the Federal Government of Nigeria has set a target for 30 percent renewable energy contribution to the country’s electricity grid by 2030.
The Minister of State I, Power, Works and Housing, Mr. Mustapha Baba Shehuri, said this yesterday in Abuja at a business meeting on Nigeria-India cooperation in solar and other renewable energy sources.
Shehuri said a loan of $66m and $8m were granted to Nigeria for the solar project after it joined other countries to sign the International Solar Alliance (ISA) in March 2018 in New Delhi, India.
He added that Nigeria has an investors’ guide that outlines the target of 30 percent renewable energy contribution to the national grid by 2030 when the generation level should be at 30,000 megawatts (MW).
The High Commissioner of India, Mr. B. N Reddy, said his country targets generation of 100,000MW from solar by 2030 and has already attained 20,000MW this year.
Reddy also said there was an eight-member Indian business delegation at the meeting hosted by the High Commission of India, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Abuja Chamber of Commerce and Industry (ACCI) to guide local investors.
The representative of ASSOCHAM Nigeria, chapter, Mr. Manish Rahtagi of Simba Group said India contributes 4 percent of global renewable energy generation and has the third largest installed capacity of solar power.
ACCI president, Prince Adetokunbo Kayode, urged the Federal Government to have a clear-cut policy on renewables and expressed the need to harmonize policies at the ministries of environment, power and petroleum resources.
Source: Daily Trust