Nigeria’s clean energy drive has received a boost with the launch of an innovation development programme aimed at strengthening investment in the sector.
The Federal Government has adopted a shift towards clean, renewable energy through increased investments in solar energy and other alternative source of electricity.
According to the Federal Government’s Energy Transition and Investment Plans, ETIP, Nigeria’s shift to domestic renewables is projected to generate USD 686.8 billion in fuel cost savings by 2060. However, the projection depends on infrastructure delivery as the ETIP targets 277 GW of total installed capacity and over 104,000 mini-grids by 2030.
The Innovation Ecosystem Development Programme, launched by an off-grid energy investment firm, All On, according to a statement made available to newsmen in Uyo, will provide support for clean energy startups and entrepreneurs in the country.
The 12-month incubation and prototype development programme will provide technical expertise, hands-on development, access to appropriate equipment and facilities, mentorship and necessary support to the participants.
Flagging off the programme, the Chief Executive Officer of All On, Caroline Eboumbou, stated that the exercise, funded by the United Nations affiliated Global Energy Alliance for People and Planet, will address a critical gap in Nigeria’s clean energy ecosystem by providing the technical and infrastructural support needed by promising ventures at the ideation and prototype development stage.
Ten participating entities will receive hands-on technical guidance, venture creation training, mentorship and access to fabrication facilities to support the development and testing of their solutions.
“While access to capital remains important for growing energy businesses, many early-stage ventures require more than funding to turn an idea into a viable solution.
“Innovation does not happen simply because someone has a good idea. It takes the right environment, the right technical support and the opportunity to build, test and learn iteratively in the right conditions. With the All On Innovation Ecosystem Development Programme, we are addressing an important gap in the journey of early-stage clean energy ventures by giving entrepreneurs the practical support they need to move their ideas closer to real-world solutions,” she said.
According to her, the programme will contribute significantly to Nigeria’s clean energy future.
Also speaking, Muhammad Wakil, Country Director, Nigeria, Global Energy Alliance for People and Planet, noted that ideas only become businesses when entrepreneurs have somewhere to build and test them.
Wakil noted that the programme will give ventures the facilities and mentorship to work through their solutions before accessing capital.
“We expect the ventures coming out of this programme to raise funding faster, because investors will be backing prototypes that have already been through real testing, not just concepts on paper. That is the kind of pipeline Nigeria’s clean energy sector needs going forward,” Wakil added.
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