- The deployment of 5 million solar-home system units will commence this December.
- The project is expected to cost about $3.7 million, with the World Bank expected to provide 20 per cent of the project funds.
- By using geospatial data, the REA plans to identify consumers who are best poised to be impacted by these solutions.
Nigeria’s Federal Government plans to provide electricity to about 25 million people through the installation of five million solar home systems. This project will cost about $3.7 million (₦140 billion) with about 20 per cent of the funding expected to come from a World Bank grant. Nigeria’s Central Bank is also expected to provide funds for private solar energy companies that will manufacture, assemble, install and maintain the solar systems at interest rates between 5 to 10%. The government states that this project will create about 250,000 jobs.
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The Rural Electrification Agency (REA) will be in charge of project implementation. Installation of the solar systems is expected to begin in December 2020. Beneficiaries will own the solar units outright after three years of use. It is expected that consumers would pay between ₦1,500 (about US$4) per week to ₦4,000 (more than US$10.5) per month depending on the size of their systems over the three years.
The REA plans to leverage geospatial data in deploying these solutions. With Support from Sustainable Energy for All, the REA plans to use”best-in-class geospatial and ‘ability to pay’ data” to identify consumers who are best poised to be impacted by these solutions.