Norwegian renewable energy investment firm, Empower New Energy, has recently signed a $6.5 million worth solar energy deal in Lagos. The company has started a collaboration with the Nigerian clean energy company, Powercell Limited, to work on a project that aims to reduce pollution and expand clean energy use in the country.
The agreement was signed during the opening of the Lagos-Norway Energy Exchange with the support of the Nigerian Ministry of Energy and Mineral Resources. The Exchange forum was organized by the Royal Norwegian Embassy in Abuja and Norwegian Energy Partners (Norwep) for Norwegian companies to understand energy challenges and present green solutions in Nigeria.
Terje Osmundsen, CEO of Empower New Energy, said the recent deal is the largest solar investment for Empower New Energy in Nigeria so far. Their partnership with Powercell will help in replacing diesel generators with solar PV power and batteries in several stores of Justrite Limited Group, a leading manufacturer of safety cabinets and storage devices in Nigeria.
Olalere Odusote, Lagos State Commissioner for Energy, said the state intends to create a sustainable electricity market with an aim of reducing the reliance on fossil fuel and increasing the use of renewable energy. According to the Commissioner, the State government has set the target of generating 1,000 MW of solar power by 2030.
Odusote also mentioned that the Lagos state head and officials held a meeting on the Lagos Platform for Development (LAPD) Initiative and the technical support for the initiative which will be offered by the World Bank. Projects such as setting up the State Electricity regulator and developing the Independent Systems Operator (ISO) for the emerging Lagos electricity market will also be undertaken.
Anniken Huitfeldt, Norway’s Minister of Foreign Affairs, said the recent developments and steps taken by the Lagos government will push energy companies towards clean technology and attract green investments. Norway and Nigeria have been partnering in energy deals for the last few decades and both countries will share and utilize the necessary technology & knowledge in the green transition.