{"id":5468,"date":"2017-12-29T13:05:54","date_gmt":"2017-12-29T20:05:54","guid":{"rendered":"http:\/\/nigerianews.ca\/?p=5468"},"modified":"2017-12-30T22:17:55","modified_gmt":"2017-12-31T05:17:55","slug":"nigeria-kick-start-10-billion-renewable-mini-grid-market-impact-investors","status":"publish","type":"post","link":"https:\/\/nigerianews.ca\/nigeria-kick-start-10-billion-renewable-mini-grid-market-impact-investors\/","title":{"rendered":"Nigeria kick start $10 billion renewable mini-grid market for impact investors"},"content":{"rendered":"
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Image from One Planet Summit<\/div>\n
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Nigeria kick start $10 billion renewable mini-grid market for impact investors<\/p>\n

By Richard Branson\u00a0 @richardbranson<\/p>\n

28 December 2017: Energy access in Africa is close to my heart. Bringing clean, renewable power to people instead of building coal-fired power stations is absolutely essential if we are going to tackle climate change.<\/p>\n

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Despite great progress in recent years, still every night too much of Africa remains in darkness. But this is about so much more than simply having a source of light. Lack of power inhibits millions of small businesses and budding entrepreneurs in Africa, starving them of the ability to manufacture, even power a laptop.<\/p>\n

There\u2019s certainly no lack of solutions. For instance, my good friend Strive Masiyiwa launched Econet Solar in Zimbabwe to bring solar lamps to villagers who could pay via their smartphones.<\/p>\n

One bigger entrepreneurial energy solution that has so far under delivered on the promise of bringing energy to all has been mini-grid systems. Mini-grids are sets of electricity generators and possibly energy storage systems interconnected to a distribution network that supplies electricity to a group of customers. They can be charged using solar.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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However, investors have viewed the market for mini-grids as being too risky, making gaining access to project financing rare, and market rate debt expensive. So, I was really thrilled to hear this week that the\u00a0Rocky Mountain Institute<\/a>\u00a0may have cracked the problem with their partners, the Nigerian Rural Electrification Agency and the World Bank.<\/p>\n

At a recent summit in Nigeria, the organisations released an independent investment brief that touts Nigeria as the nation which can now unlock the nascent mini-grid market in Africa in 2018. Nigeria is the biggest and most attractive off-grid opportunity in Africa. It has the largest economy in Sub-Saharan Africa (GDP of $405 billion), a population of 180 million people, and flourishing growth (15 per cent a year since 2000).<\/p>\n

A significant amount of the economy is already powered largely by small-scale generators (10\u201315 GW) and almost 50 per cent of the population have limited or no access to the grid. As a result, Nigerians and their businesses spend almost $14 billion annually on inefficient, polluting and noisy generation that is expensive, and suffers from poor quality.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Developing off-grid alternatives to complement the grid could create a $9.2B\/year market opportunity for mini-grids and solar home systems that will save $4.4B\/year for Nigerian homes and businesses. And there is large potential for scaling – installing 10,000 mini-grids of 100 kW each can occur for 10 years and only meet 30 per cent of anticipated demand.<\/p>\n

The combination of large revenue opportunity (USD $9.2 billion per year), a supportive government, and a dynamic entrepreneurial environment unite to make Nigeria the ideal location. If you are an impact investor that wants to make a difference in energy access next year, I\u2019d suggest a trip to Nigeria.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

  Image from One Planet Summit Nigeria kick start $10 billion renewable mini-grid market for impact investors By Richard Branson\u00a0 @richardbranson 28 December 2017: Energy access in Africa is close to my heart. Bringing clean, renewable power to people instead of building coal-fired power stations is absolutely essential if we are going to tackle climate […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[89],"tags":[],"yoast_head":"\nNigeria kick start $10 billion renewable mini-grid market for impact investors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nigerianews.ca\/nigeria-kick-start-10-billion-renewable-mini-grid-market-impact-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria kick start $10 billion renewable mini-grid market for impact investors\" \/>\n<meta property=\"og:description\" content=\"  Image from One Planet Summit Nigeria kick start $10 billion renewable mini-grid market for impact investors By Richard Branson\u00a0 @richardbranson 28 December 2017: Energy access in Africa is close to my heart. 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