- REAN and SMEDAN are teaming up on Project1000, which will provide green energy solutions for 1,000 SMEs using solar systems.
- SMEs face high energy costs, with 90% reporting power challenges after the 2023 petrol subsidy removal.
- The partnership aims to boost productivity and economic growth by offering affordable solar energy, helping businesses cut costs and reduce their carbon footprint.
The Renewable Energy Association of Nigeria (REAN) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) are teaming up to solve energy challenges for small and medium-sized enterprises (SMEs). Their joint initiative, “Project1000,” aims to power 1,000 SMEs with green energy through solar home systems (SHS) and captive power for select enterprise clusters.
On Friday, February 14, REAN President Ayo Ademilua and Executive Secretary Oluwatosin Akande, PhD, met with Daberuje Onesi-Lawani, Director in the Director-General’s Office and Head of the Climate, Energy & Sustainable Enterprises Office at SMEDAN in Abuja. They focused on accelerating the implementation of their strategic partnership.
SMEs make up 48% of Nigeria’s GDP, but many struggle with high energy costs, especially after the removal of the petrol subsidy in May 2023. Over 90% of SMEs reported that power costs significantly hinder business operations.
During the meeting, SMEDAN shared its efforts to provide green electricity to SMEs. They showcased a 240kVa solar installation at the Abuja Industrial Development Center (IDC), which provides shared workspaces, equipment, and reliable solar-powered electricity to businesses. The centre supports garment-making, woodwork, branding, plastics recycling, and packaging.
REAN officials also toured the garment hub at the Abuja IDC, part of a larger initiative that includes similar centres in Lagos, Kano, and Osogbo. These centres aim to offer affordable and sustainable energy solutions to improve business productivity.
Project1000 will deliver affordable and reliable solar energy to SMEs, helping them cut energy costs and reduce dependence on fossil fuels. By integrating solar power into their operations, SMEs will lower expenses and carbon footprint, supporting Nigeria’s green energy goals and job creation.
SMEDAN and REAN will combine their strengths in this partnership. SMEDAN’s extensive network of SMEs and REAN’s renewable energy expertise will help these businesses access affordable, sustainable energy. This initiative will boost productivity, create jobs, and spur economic growth for Nigeria’s economy.
By securing consistent and reliable energy, SMEs can enhance their operations, especially in electricity-reliant sectors like manufacturing, packaging, and garment production.
Through their collaboration, REAN and SMEDAN aim to address Nigeria’s SME energy problems with sustainable solutions. Project1000’s green energy focus aligns with Nigeria’s vision for an inclusive, sustainable economy. This initiative will help the country meet its renewable energy goals while promoting the growth and development of its SMEs.
In summary, REAN and SMEDAN are taking an active approach to addressing the energy crisis for SMEs. By driving Project1000, they offer businesses access to affordable, reliable, and sustainable energy, contributing to Nigeria’s transition to a greener and more prosperous economy.