Energy Mix Hub, a subsidiary of energy investment facilitation firm; Energy Mix Limited has disclosed plans to convene a workshop on Nigeria’s Off-Grid Investment Opportunities in partnership with the Renewable Energy Association of Nigeria (REAN).
In a statement in Lagos, Founder and Chief Executive Officer, Energy Mix Limited, Noma Olushola Garrick, disclosed that the workshop would discuss issues around the solar and off grid sector in Nigeria from multiple stakeholder perspectives.
He stated that the invite-only workshop scheduled to hold in Lagos, July 25, 2018, was targeted at professionals working in investment firms, private sector institutions, banks, financial institutions, solar companies, power (generation and distribution) companies, law firms, government agencies and regulatory bodies, international and local support agencies, as well as other development institutions.
According to him, the workshop is also designed to bring professionals in the solar/off grid sector together to discuss prevailing issues, foster business relationships, explore opportunities and engender profitable long lasting connections within the sector.
He said that a recent collaboration between the Nigerian Rural Electrification Agency (REA), the World Bank, and the Rocky Mountain Institute (RMI), found that developing off-grid alternatives to complement the nation’s grid could create a $9.2 billion/year (N3.2trillion) market opportunity for mini-grids, and solar home systems investors that would save $4.4billion/year (N1.5trillion) for Nigerian homes and businesses.
He however added that; “Common barriers to off-grid market growth include investors viewing the Nigerian market as being too risky in operational and financial terms, leading to poor access to project financing. Clarifying the issues abound in the sector and providing solutions through this particular workshop from financial, operational, legal and regulatory perspectives will allow for better appreciation of the opportunities involved.”