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Nigeria’s Renewable Energy Development Receives Huge Boost, As EU, Germany Pledge Support

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Renewable energy development has received a huge boost after the sector received support from the European Union and the German government.

The EU and Germany will be supporting scholarship programme on solar energy and energy efficiency, targeting over 185 Nigerians.

The scholarship programme would uplift participants’ knowledge and skills on how to access funds for the development of renewable energy projects in Nigeria.

The exercise, tagged ‘Nigerian Finance Training Programme on Solar Energy and Energy Efficiency’, consists of a six-week online course and a three-day face-to-face training in Abuja and Lagos.

Head of Section, Economic Cooperation and Energy of the Delegation of the European Union to Nigeria and ECOWAS, Katrine Thomsen, explained in a report made available to our correspondent how the training would impact the sector.

She said, “The Solar Energy and Energy Efficiency Training will teach project developers to develop bankable project proposals that are suitable for funding.”

Access to finance for such investments is currently limited and this is largely due to the unfamiliarity with renewable energy and energy efficiency applications, which affect the perceived risk of investments in these technologies.

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