New solar- grid power unlocks 3.3GW potential, $ 6.5b investment
3.3GW of solar capacity and UCCOUR may be on the attract $ 6.5 billion in investway for power generation ments. in the country due to the colThis study targeted 170,000 laboration between Daystar corporations and industrial Power and Rocky Mountain manufacturers in Nigeria, Institute ( RMI). offering them substantial cost The two firms, in a jointly savings by transitioning from released a U . S. Trade and diesel- fired generators to utiliDevelopment Agency ty- enabled solar systems with ( USTDA)- funded feasibility backup battery storage. study, titled: “Scaling Utility - The study highlighted the Enabled Distributed Energ y significant advantages of this Resources for Nig erian new model, not only for C& I Commercial and Industrial customers but also for elec( C& I) Customers”, introtricity distribution companies duced a business model ( Discos). By embracing utilitydesigned for grid- connected enabled solar systems, busihybrid solar power systems, nesses can reduce energy with projections indicating costs, while Discos stand to the potential to unlock benefit from increased rev
Senues through enhanced grid consumption and the connection of new customers to the grid.
Daystar Power, Country Head of Nigeria and Ghana, Victor Ezenwoko, said: “This feasibility study has been in the works for a long time, and we’re elated to announce its results. While Nigeria’s solar industry is taking off, it’s still relatively in its early days, and innovative studies like this are key to deepening the market and adding more value to the business community. We can provide even more affordable and reliable power to Nigerian businesses if we team up with distribution companies in close partnerships to solve challenges and eliminate uncertainties in the power value chain.”
A statement informed that in 2023, Daystar and RMI conducted Nigeria’s first- ever feasibility study to develop custom hybrid solar power systems that integrated with the national grid for 20 C& I customers in Abuja and Lagos, working in partnership with Abuja Electricity Distribution Company ( AEDC), Eko Electricity Distribution Company ( EKEDC), and Ikeja Electric ( IE).