Expert seeks more funding for renewable energy

A power expert, Mr. Segun Adaju, has urged the government and organisations to invest more funds towards the development of renewable energy to boost electricity.

Adaju, who is the Chief Executive Officer of Consistent Solar Energy Company, said this in an interview with journalists in Abuja over the weekend, saying one of the major challenges faced in the development of renewable energy was finance.

”However, when you acquire it, there is little maintenance to be done, and there will be no need to buy fuel or diesel to power your generator. Once you acquire a solar system, there is little maintenance that you carry out over three years, it is cheaper and you don’t have to incur any cost, ”he said.

According to him, to address the challenge of finance in the purchase of solar systems, there is the need to create what is called “consumer finance” in simpler terms credit.

He said the country had a target to generate 30,000 megawatts of power by 2030 and 30 percent of it would be renewable energy.

Adaju said members of the Renewable Energy Association (REAN) of Nigeria were already working on using local content to develop renewable energy.

”Some of them are already producing solar panels and batteries between 2030-2050 we should be able to produce a hundred per 9 cents, ” he said.

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