{"id":646,"date":"2022-06-22T08:23:42","date_gmt":"2022-06-22T08:23:42","guid":{"rendered":"https:\/\/pscsolaruk.com\/blog\/?p=646"},"modified":"2022-06-22T08:23:43","modified_gmt":"2022-06-22T08:23:43","slug":"lagos-partners-world-bank-on-solar-power","status":"publish","type":"post","link":"https:\/\/pscsolaruk.com\/blog\/lagos-partners-world-bank-on-solar-power\/","title":{"rendered":"Lagos Partners World Bank on Solar Power"},"content":{"rendered":"\n

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.<\/p>

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The state Commissioner for Energy and Mineral Resources, Mr Olalere Odusote, disclosed this in a statement on Sunday.<\/p>\n\n\n\n

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.<\/p>

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He said, \u201cThe objective of the session was to discuss the pathways for realizing the Lagos State\u2019s 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<\/strong>.<\/p>\n\n\n\n

\u201cLagos 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) \u2013 and one of the potential solutions being considered by the state is the use of rooftop solar.<\/p>

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\u201cThe ministry would incorporate the feedback from the stakeholders and leverage same in developing a detailed project design document to guide the project implementation.<\/p>\n\n\n\n

\u201cThe funding requirement for deployment of about 500MW of solar DPV in the next five years is estimated at $350 \u2013 $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.\u201d<\/p>

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