Rural Electrification Agency (REA) calls for participation to fast-track development of Nigeria’s renewable energy sector

In a bid to streamline activities and drive rapid development in Nigeria’s renewables space, the Rural Electrification Agency (REA) has announced a call for participation’ inviting all stakeholders in Nigeria’s renewable energy sector to actively participate in its strategic initiatives aimed at accelerating the sector’s growth and development. This call is part of REA’s ongoing efforts to foster sector-wide transformation, address operational challenges, and enhance Nigeria’s renewable energy ecosystem’s resilience.

With Nigeria’s renewable energy sector poised for substantial expansion, REA recognises the critical opportunity to increase energy access and drive sustainable development. The Rural Electrification Agency also considers the slow pace of sectoral growth, which has been hindered by challenges such as limited access to financing, market inefficiencies, and operational constraints, which the agency aims to address through this latest effort by engaging key market participants

and conducting a comprehensive assessment of the Distributed Renewable Energy (DRE) value chain, paving the way for impactful market development interventions in collaboration with REA’s development partners.

In his comments on the importance of this effort, Abba Aliyu, Director General of the Rural Electrification Agency, said, “We intend to catalyse progress and enhance development in Nigeria’s renewable energy sector and are inviting all stakeholders in Nigeria’s renewable energy landscape to engage actively in strategic programs designed to accelerate growth and innovation in the sector.

“He further highlighted the agency’s commitment to identifying active participants across the renewable energy value chain, including project developers, EPC contractors, O&M service providers, Renewable Energy Service Companies (RESCOs), and manufacturers and importers of essential components through activities like the recent call for participation. According to Abba Aliyu, REA seeks to expand its database of stakeholders whilst crafting policies and programs that directly address the sector’s needs and foster growth. “Interested stakeholders are therefore encouraged to apply through the process spelt out in the call for participation, also available on the REA website,” Aliyu added.

This call for participation will provide insights into stakeholders’ current challenges, including market access issues, financing barriers, regulatory constraints, and operational inefficiencies. It will also assess companies’ maturity, market readiness, and sub-sector involvement in areas such as solar, wind, hydro, biomass, and hydrogen energy solutions. The data collected by the agency from this exercise will guide policy development and strategic interventions designed to de-risk the sector, enhance market efficiency, and encourage ongoing stakeholder engagement.

REA’s initiatives aim to improve corporate maturity, strengthen project pipelines, facilitate financial closures, and create a collaborative environment with development partners. The goal is to support businesses in transitioning to RESCO models and to promote a robust, sustainable renewable energy market in Nigeria.

Interested companies and organisations are encouraged to respond by completing the form on REA’s online platform by Friday, November 22, 2024.

For more information, visit www.rea.gov.ng or contact [email protected].