Last week, from May 21-23, the Alliance for Rural Electrification (ARE) hosted the Energy Access Investment Forum (EAIF) 2024 in Lagos. This event resulted in the signing of several agreements and partnerships between the public and private sectors to accelerate the adoption of renewable energy solutions in Nigeria.
The event, co-hosted by the European Union Delegation to Nigeria and ECOWAS, was supported by GET.invest and backed by the Nigerian Rural Electrification Agency (REA). EAIF 2024 also served as a platform to deliberate on the Nigeria Distributed Access through Renewable Energy Scale-up (DARES) project managed by REA.
This project aims to provide new or improved electricity access to over 17.5 million Nigerians using distributed renewable energy (DRE) solutions. It is backed by EUR 700 million (USD 750 million) in financing from the World Bank.
During the event, REA’s Managing Director, Abba Abubakar Aliyu, said, “The EAIF has been a great opportunity for REA to showcase its impact footprint on sustainable energy access.
“Most importantly, however, the Forum has given us an opportunity to crystallise new partnerships while mainstreaming the new growth path of the nation’s DRE space. At the REA, we remain committed to exploring innovative technologies and people-centred models in the DRE ecosystem.”
Some of the Major Collaborations at EAIF 2024
- ARE and partners announced the Partnership for Responsible Battery and Metal Recycling (ProBaMet) initiative, supported by GIZ. This partnership focuses on lead-acid battery recycling from renewable energy projects.
- REA partnered with Husk Power Systems to deliver 250MW of renewable energy.
- REA signed an MoU with the Small and Medium Enterprises Development Agency (SMEDAN) to power micro, small, and medium enterprises’ growth with clean energy solutions.
- REA and EM-ONE Energy Solutions joined forces under the Renewable Energy Company (RESCO) to deploy 350MW of renewable energy to underserved communities, majorly peri-urban and rural areas with large-scale anchor loads such as factories or commercial centres.
- REA signed two MoUs to generate 500MW of renewable energy to electrify rural communities nationwide. The 500MW would be delivered through mini-grids to be constructed in unserved and underserved communities.
- The EU announced new commitments of EUR 4 million for the upcoming GET.invest country window for renewable energy investment pipeline development and another EUR 20 million for a dedicated Nigerian investment facility for renewable energy and agri-business.