FG attract $2bn investments in renewable energy industry


The federal government says it attracted $2 billion in investment in the renewable energy sector over the past decade.

The Director of Promotion and Outreach of Rural Electrification Agency, Mutari Ibrahim, disclosed this in a statement issued in Abuja.

According to him, the agency had achieved massive financing in the industry in the last three years with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency.

Others include the Sustainable Energy for ALL, Agence Française de Développement, the United Kingdom Nigeria Infrastructure Advisory Facility, the European Union, the United Nations Industrial Development Organisation, the Global Environment Facility, and the United States Agency for International Development, among others.

The statement added that the agency completed over 1,403 projects under the capital budget, delivering solar street lights, mini-grid projects, standalone home systems, and grid extension works.

“REA has delivered over 500MW of power, electrified numerous communities, created 500,000 new jobs, and attracted over $2bn in investments in the renewable energy sector over the past decade,” it said.

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