The United States Agency for International Development (USAID) and Power Africa Renewable Energy and Energy Efficiency Project (REEP) is closing after four years of activities aimed at promoting the renewable energy industry in Nigeria through commercially oriented technical assistance and access to finance services.
Started in March 1, 2014, the USAID REEP facilitated the development and financing of renewable energy and energy efficiency markets and strengthened the current policy and regulatory environment for public and private sector investment, the programme funders said in a release issued by Morgan Ashenfelter, sustainability program manager, Winrock International.
Through its technical assistance and financial services during the project’s tenure, REEP enabled over 16,600 connections for 2.15 megawatts of power either through off- or on-grid sources, This means 261,938 Nigerians received clean and reliable energy for the first time, compared to diesel or petrol says the organisers.
“Environmentally, these connections reduced or sequestered 4.5million metric tons of CO2 form entering the atmosphere and the programme leveraged about $2.1m in financing for RE/EE projects from both domestic and international investors,” says
Javier Betancourt, WinRock’s chief of party.
F. John Braid, US Consul General in his remarks at the end of the event said Power Africa’s goal is to increase connections to households and businesses and the programme has helped Nigerians to acquire technical skills and access to financing.