CBN cogitate on N1.525bn renewable energy investments – USAID

The Central Bank of Nigeria (CBN) is currently considering investments of about N1.525 billion ($5 million) in the renewable energy sector for Nigerians who are off the national grid,

The Chief of Party for the United States Agency for International Development (USAID)’s Nigeria Renewable Energy Efficiency Project (REEEP), Javiar Betancourt, disclosed this on the side-line of the project closing ceremony for REEEP in Lagos. He said that USAID is in talks with the apex bank for the investments. Statistics from the Federal Government show that over 80 million Nigerians are not connected to the power grid.

“CBN should implement the projects by this year or next year,” Betancourt said in a remark, adding that his view on the date of implementation was based on talks between his agency and the apex bank. REEEP, funded by USAID and Power Africa and implemented by Winrock, Javier Betancourt said, had already leveraged about $2.1 million in financing for Renewable Energy and Energy Efficiency (RE/EE) projects from both domestic and international investors

The Central Bank of Nigeria (CBN) is currently considering investments of about N1.525 billion ($5 million) in the renewable energy sector for Nigerians who are off the national grid,

The Chief of Party for the United States Agency for International Development (USAID)’s Nigeria Renewable Energy Efficiency Project (REEEP), Javiar Betancourt, disclosed this on the side-line of the project closing ceremony for REEEP in Lagos. He said that USAID is in talks with the apex bank for the investments. Statistics from the Federal Government show that over 80 million Nigerians are not connected to the power grid.

“CBN should implement the projects by this year or next year,” Betancourt said in a remark, adding that his view on the date of implementation was based on talks between his agency and the apex bank. REEEP, funded by USAID and Power Africa and implemented by Winrock, Javier Betancourt said, had already leveraged about $2.1 million in financing for Renewable Energy and Energy Efficiency (RE/EE) projects from both domestic and international investors,

source: Energy Mix Report.