Lagos Partners World Bank on Solar Power

The Lagos State Government has unveiled its plan to collaborate with the World Bank on the implementation of pathways for a one-gigawatt solar Photovoltaics electricity system in the state.

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The state Commissioner for Energy and Mineral Resources, Mr Olalere Odusote, disclosed this in a statement on Sunday.

Odusote was quoted to have stated this during a one-day workshop with key actors across the industry value chain including Photovoltaic developers, solar aggregators, commercial banks, and Fintechs among others, to discuss the framework for the implementation.

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He said, “The objective of the session was to discuss the pathways for realizing the Lagos State’s ambition of achieving 1GW of installed PV capacity by 2030 with a proposed mix of 60 per cent commercial and industrial, 20 per cent residential and 20 per cent government-owned buildings.

“Lagos State is committed to addressing the demand-grid supply deficit in the state which is currently estimated at 33-43 Terawatt-hour (83 per cent of total demand) – and one of the potential solutions being considered by the state is the use of rooftop solar.

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“The ministry would incorporate the feedback from the stakeholders and leverage same in developing a detailed project design document to guide the project implementation.

“The funding requirement for deployment of about 500MW of solar DPV in the next five years is estimated at $350 – $700 million. It is envisioned that this would be financed through a mix of grants, equity, and concessionary debt designed specifically for various consumer segments.”

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In his remarks, the World Bank Acting Regional Director for Infrastructure, West and Central Africa, Ashish Khanna, stated that, “There is a unique opportunity for Lagos to lead the way for solar adoption in Nigeria and Sub-Saharan Africa by demonstrating a model for DPV in urban Africa that provides affordable and reliable electricity.”

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