- REA has signed an MoU to boost the deployment of renewable energy access across the country.
- This MoU gives OCEL access to target communities to roll out solar mini-grids.
The Rural Electrification Agency (REA) has signed a Memorandum of Understanding (MoU) with Oando Clean Energy (OCEL) to boost collaboration between the private sector and Government Agencies towards the deployment of sustainable renewable energy access across the country.
The MoU was recently signed at the corporate headquarters of REA in Abuja. The MoU forms the basis of a Public-Private arrangement between REA and OCEL to achieve the objectives of the Agency in the electrification of rural communities, specifically through the deployment of solar infrastructure (solar power solutions). The parties recognize the potential benefits of deploying solar infrastructure for power generation to pull the trigger for commercial and enterprise growth in these communities.
There are approximately 92 million Nigerians without access to electricity in the country, most of whom reside in rural areas. To this end, the Federal Government set a target to power 5 million homes through the REA and partnerships with the private sector. This MoU gives OCEL access to target communities to roll out solar mini-grids towards achieving energy security, power accessibility and affordability.
Speaking at the MoU signing, Engineer Ahmad Salihijo Ahmad, the Managing Director & CEO of REA, said that one of the best ways to mitigate the effects of subsidy removal in Nigeria is by exploiting opportunities to optimize the critical role of renewable energy. He further expressed his delight about the REA and Oando partnership, saying that it will bring about mutually beneficial collaboration, knowledge exchange and experiences to achieve the goal of optimizing renewable energy.
The Oando brand has been a key player in the energy space for over twenty years and today is making significant in-roads in the renewable energy space through her newest subsidiary, Oando Clean Energy (OCEL), which was launched in 2021.
As REA continues to play a key role in the nation’s off-grid, renewable energy space, it has maintained a strong history of drawing in private sector investment, facilitating inter-sectorial collaboration, and ultimately, aiding the implementation and delivery of fit-for-purpose off-grid solutions nationwide.
The REA and Oando collaboration marks the beginning of another timely and strategic partnership targeted at exploring new approaches to clean energy development for socio-economic impact in a post-subsidy Nigeria.