Nigeria can generate 427,000MW from solar – Gencos
According to power generation companies in Nigeria, the country has the potential to generate 427,000 megawatts of electricity from solar energy.
Currently, Nigeria only generates less than 5,000MW for its population of over 200 million.
The Chief Executive Officer of the Association of Power Generation Companies, Joy Ogaji, highlighted this potential during a workshop on renewable energy penetration.
She also mentioned that Nigeria has hydro resources estimated at 14,750MW and wind speeds with a potential of 150,000 TJ per year.
However, she pointed out that there is currently no renewable energy generation connected at the distribution or transmission level.
Most of the energy generation comes from off-grid solar home systems and rooftop solar. The cost of renewable energy in Nigeria is not competitive compared to utility prices.
Achieving renewable energy targets through mini-grids would be a slow process, and there are challenges in attracting investments due to low domestic demand in West African countries.
Other challenges include
- lack of effective planning and monitoring,
- imbalance in bilateral contracts for electricity purchase and sale, and
- lack of synergy in regulatory frameworks among member states.
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