South Korea boosts Nigeria’s solar projects with $ 12.4 million

South Korea has allocated $ 12.4 million to finance the installation of solar mini-grids in rural Nigeria.

The project, led by the Korea Institute for Technological Advancement (KIAT), is expected to begin in April 2022.

With its “30:30:30 Vision”, Nigeria hopes to have 30 GW of installed electricity capacity by 2030, of which 30% will come from renewable sources.

In order to achieve full electricity coverage of its territory, the West African country is turning to several development partners such as South Korea, which will allocate in 2022 funding of just over 12.4 million euros. dollars for the installation of solar mini-grids in rural areas.

The initiative is led by the Korea Institute for Technological Advancement (KIAT) and supported by the Korea Ministry of Energy, Korea Polytechnic University, and energy providers S&D Powernics and ILJIN Electrics.

The solar mini-grid project strengthens Nigeria’s plan to accelerate its electrification and will bring the benefits of electricity to unserved people, including improved security and nighttime activity.

For Young-Chae, Ambassador of the Republic of South Korea to Nigeria, the long-term goal is to serve high-demand rural communities with a stable and sustainable electricity solution. “The project will require the installation of transmission and distribution lines, the supply of electrical equipment and systems, and training for operation and maintenance,” he explained.

Nigeria is the most populous country on the African continent with a population estimated by the World Bank at over 206 million inhabitants by 2020. In rural areas, 66% of households still do not have access to electricity .

Since 2020, 3.5 billion dollars in agreements have already been signed with the World Bank, in particular to reduce the indebtedness of operators, fight against fraud and optimize distribution.

The government has launched a partnership with the German group Siemens to modernize the network and audit the entire sector, in order to increase production capacity to 30,000 MW by 2030, against the current 5,500 MW.

In 2019, the European Union granted Nigeria 195 million euros to promote access to electricity for the population, to support companies that invest in the off-grid.

Investment firm All On, funded by Anglo-Dutch oil company Shell, recently invested $ 1 million in Salpha Energy, a Lagos-based company with 350 users, including individuals.

The Nigerian company distributes solar home systems in rural Nigeria.

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