Economy & Market

FG Targets 5,000MW from Renewable Energy by 2030

To bridge the nation’s huge energy deficit, the Nigerian Electricity Regulatory Commission (NERC), has disclosed plans to add 5,000MW of electricity from renewable energy to the country’s energy mix by 2030.

The power generation improvement plan was unveiled at the weekend, by NERC’s Head of Renewable Energy/Corporate Planning and Strategy, Jonathan Okoronkwo, at a webinar organised by the Major Energies  Marketers Association of Nigeria(MEMAN) with the topic “Energy Transition through Solar Energy.

He explained that under the National Renewable Energy Action Plan(NREAP), aims to diversify Nigeria’s energy mix by increasing the contribution of renewable energy sources to the national grid.

Okoronkwo added that the action plan sets a target of 30 per cent renewable energy in Nigeria’s energy mix by 2030, with specific milestones for solar, wind, biomass, and hydroelectric power.

He stressed that solar energy, particularly large-scale solar projects is a significant focus due to Nigeria’s high solar insolation. However, he said, the entry barrier remained a major setback for would-be solar energy users due to the initial cost.

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