CHINT to tackle Nigeria’s power deficit through renewable energy

CHINT Nigeria has reiterated its commitment to growing the country’s energy through the provision of sustainable electrical and energy solutions.

The subsidiary of Chint Global, a manufacturer of low, medium, and high-voltage electrical products, said it would continue to develop and supply reliable and sustainable energy solutions to strengthen Nigeria’s renewable energy landscape.

Gary Gan, CHINT Nigeria’s country manager, disclosed this at the 9th Nigeria Energy and Exhibition Conference, held September 20-22, 2022 in Lagos, where the company displayed an array of its renewable energy solutions, including its residential Solar storage and charging solution and a commercial and industrial solar-diesel hybrid solution.

According to a World Bank report, the lack of reliable power is a major constraint for individuals and enterprises, resulting in annual economic losses estimated at $26.2 billion (10.1 trillion), which is equivalent to nearly 2 percent of GDP.

Similarly, the 2020 World Bank Doing Business report showed Nigeria ranks 171 out of 190 countries in terms of access to electricity, and access to electricity is regarded as one of the key restrictions for the private sector.

Gary Gan, speaking to the press at the event, said that while Nigeria’s unreliable power supply is a serious challenge, increased access to energy can improve many socioeconomic issues.

“This is particularly an impetus for CHINT’S future investment in Nigeria’s power and energy sectors.” Gary added. “We have been investing in Nigeria’s power and energy sector for the past ten years, and I can tell you that we are here to improve access to energy.”

Furthermore, 85 million Nigerians lack access to grid electricity. According to the World Bank report, this represents 43percent of the country’s population, making Nigeria the country with the biggest energy access deficit in the world.

“The federal government must promote investment by offering a welcoming business environment, funding, and equitable service conditions,” Gan added.

Gan said CHINT has been working with Discos and other stakeholders, including the Transmission Company of Nigeria (TCN), to develop world-class energy solutions that would bridge the country’s energy gap.

“The Federal Government must encourage investors by giving incentives such as a welcoming business environment, making official company registration easier, finance, and fair working conditions,” he stated.