More sustainability in the land of superlatives
When it comes to ensuring positive change, our drive is unstoppable. There is no such thing as too big or too ambitious. There is only potential for valuable impact that we want to achieve 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 country in the world: Nigeria!
The reasons for the decision to push ahead with the expansion of solar energy in Nigeria are obvious. Nigeria is not only the most populous country in the whole of Africa, but also has the strongest economy on the continent and can therefore rightly adorn itself with the title ‘Giant of Africa’. The country’s cultural influences through film, music and literature are also felt across the continent. To ensure that environmental protection is not overlooked despite all the superlatives, we are now also becoming active in Nigeria.
Fossil fuels: the basis of the economy
The Nigerian economy is dependent on fossil fuels for two reasons at once. On the one hand, because no other African country produces and exports as much crude oil as Nigeria. 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 makes it the strongest on the continent today.
In addition, fossil fuels are an important cornerstone of the Nigerian economy even apart from crude oil exports. Nearly three quarters of electricity production is based on gas-fired power generation. Solar and wind energy, on the other hand, have so far accounted for such a small share of Nigeria’s electricity mix that they can almost be neglected. And where there has been no connection to the power grid, environmentally harmful diesel generators are often used to produce electricity.
Fit for the future thanks to renewables
The consequences of the extensive use of fossil fuels and other natural resources are already being felt in Nigeria. Water pollution, deforestation and the loss of biodiversity are just some of the environmental problems facing the West African country.
“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 promote the expansion of renewable energies. This is 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 when it comes to climate protection. The location at the equator additionally contributes to the fact that Nigeria could develop into THE market for solar energy in Africa.
Expanding solar energy in Nigeria as an impact investor
As mentioned earlier, solar power production in Nigeria has been marginal to date. A state of affairs that we want to change together with you. That is why we are now entering this important market with our first project and are doing everything we can to further expand our network of partners and customers. In this way, we and you can work together in the future to drive the much-needed solar energy transformation in Nigerian industry.
The solar project for the company TLM Investments will be published on the crowdinvesting platform in just a few days. Join us as we take the first step towards Nigeria and help the packaging manufacturer set a good example in sustainability alongside its social commitment to the local community.
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