More sustainability in the country of superlatives
Our drive to bring about positive change in the world is bottomless. There is no such thing as too big or too ambitious. There is only potential for valuable impact that we want to create with our solar projects. That’s why we’re taking the opportunity to make our Solar-as-a-Service solution available in yet another emerging market in the world: Nigeria!
And there’s good reason for our decision to accelerate the development of solar energy in Nigeria. The West-African country does not only boost the largest population, but also the strongest economy on the entire continent, earning Nigeria the nickname ‘Giant of Africa’. In addition, the country’s film and music industry as well as its literature have a huge influence across the continent. It is now our mission to make sure that sustainability does not fall off the radar in this country of superlatives.
Fossil fuels: The economy’s backbone
There are two ways in which the Nigerian economy depends on fossil fuels. Firstly, Nigeria is the largest producer and exporter of crude oil in Africa. At more than four-fifths, crude oil exports account for the bulk of Nigeria’s export business and nearly 10% of the country’s GDP. Without this export of fossil fuel, the country’s economy would not have reached the level that today make it the strongest on the continent.
Secondly, fossil fuels are also an important cornerstone of the Nigeria’s overall economy. Gas-fired power generation accounts for three quarters of the country’s total electricity generation. At the same time, the share of solar and wind energy on the other hand is so marginal, it can almost be entirely neglected. And lastly, as almost half of Nigeria’s population is still not connected to the grid, many people and businesses rely on diesel generators for electricity generation. And the carbon footprint of these generators is enormous.
Future-proof thanks to renewables
The consequences of the extensive use of fossil fuels and other natural resources are already tangible in Nigeria. Water pollution, deforestation, and the loss of biodiversity are just some environmental problems the country is facing.
“Nigeria is the economic powerhouse of Africa. However, many people and businesses are still dependent on diesel generators. I am therefore very pleased that we will soon be able to support the country’s rapid economic development with clean solar power.”Doreen Kanetey-Essel, Country Manager Ghana
This makes it all the more important to accelerate the development of renewable energies. It’s the only way to reconcile Nigeria’s economic growth with environmental protection. And thanks to the large number of companies in the country, there is tremendous potential for the private sector to lead by example. In addition, the geographical conditions are extremely favourable. Located close to the equator, solar irradiation is high, making solar systems especially efficient. All these factors contribute to Nigeria’s potential to become THE country for renewables on the African continent.
Supporting solar energy in Nigeria
As mentioned, the production of solar energy in Nigeria is still marginal. A status quo that we are no longer willing to accept. That’s why we are not only starting our first project, but are also creating a powerful network of partners and customers in Nigeria. This will serve as a strong foundation for many future solar projects. Projects, we will bring to life with you, our crowd.
We will publish our first solar project on the crowdinvesting platform in just a few days. It will enable the manufacturer TLM Investment to not only live up to its social, but also environmental commitment. Be part of the project and our first steps in Nigeria!
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