The European Union (EU) says it has so far committed over 700 million euros for the development of sustainable energy in Nigeria and other ECOWAS countries from 2014 to 2020.
Kurt Cornelis, Head of Cooperation of EU delegation to Nigeria and ECOWAS, said this in Abuja on Monday at a workshop on policy and regulation for clean energy mini-grids and renewable energy in the ECOWAS region.
Cornelis said that access to electricity and promotion of sustainable energy solutions are at the core of EU’s cooperation with the region, hence the provision of the grants to ECOWAS countries.
He said there is the urgent need to address the energy deficit using a mix of various energy sources in the region as electricity production challenges have seemed intractable.
“We all know that the challenges are considerable; we also know that on-grid solutions alone cannot solve the problems and that the right mix of on- grid and off-grid interventions has to be found,” Cornelis said.
Cornelis also said that there was the need to ensure a strong political will through the formulation and implementation of a solid regulatory and policy framework for the sector.
He said that a stable environment for trade and investment, improved capacities and necessary funding were required for the development of the sector.
He added that the EU, with partner countries and donor agencies, were committed to promoting renewable energy solutions to expand access to electricity in the region.
“The EU Energy Initiative Partnership Dialogue Facility is a good example of a multi-donor initiative established with the aim to promote coherent, effective and efficient European energy development cooperation.“
According to him, another 360 million euros was currently on the verge of being disbursed through a financial instrument called Africa Investment Facility (AFIF) to further improve energy and transportation in the ECOWAS.
He said there was the need for new partnerships to mobilise private resources and apply innovative financing models, noting that EU was also proposing an ambitions external investment plan.
This, he said, would require the full participation and partnership of the private sector.
“The EU is planning to mobilise considerable funding to support this trend and allow the private sector to invest in the area of renewable energies,“ he said.
Babatunde Raji Fashola, Nigeria’s Minister of Power, Works and Housing, said that the Nigerian government is focused on improving power supply in the country.
Fashola, represented by Louis Edozie, Permanent Secretary in the ministry, said that the two subjects of renewable energy and mini grids were very important to the government of Nigeria.
He said the development of renewable energy and mini grids were important elements in improving electricity in Nigeria.
The minister said that the legal frame work for the takeoff of renewable energy and mini grid has been established in the country.
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