GREENKAPITAL ENERGY – Providing Green Energy to Nigerians. 

“The future is green energy, sustainability, renewable energy”

 Arnold Schwarzenegger.

There is a serious crisis in the electricity sector in Nigeria. Over the years, and consistently too, Nigeria has been unable to provide the needed electricity to meet both household, industrial, agricultural and commercial demands. The energy crisis is even more glaring and brewing in the face of a rapidly growing population with the concomitant opportunity for economic growth. No nation can grow her economy without energy security, lack of energy deoxygenates the economy. Simple.

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In the energy field over the years, Nigeria has not been an exciting player – majorly relying on Fossils as the major source of energy as against substituting it with clean and sustainable energy sources. We have not shown enough commitment and policy discipline to switch tactics. But gradually, the transformative shift and switch in the energy landscape, driven by an increasing awareness of the need for alternative sustainable energy sources is growing. As the world confronts the challenges of climate change and energy security, Nigeria is embracing renewable energy with a little more sense of urgency. GreenKapital Energy is one company that stands at the forefront of this transformative switch towards sustainable green energy.

Renewable energy in Nigeria is an evolution which time has come. Nigeria has no choice than to go green especially when her population is growing at an exponential rate, leading to surging energy demand nationwide. 

Driving this shift also is the environmental concerns and the commanding need to reduce greenhouse gas emissions, aligning with global commitment and policing to combat climate change.

Furthermore, renewable energy presents a significant opportunity for economic diversification in Nigeria, reducing the nation’s dependency on oil revenues while creating jobs and fostering innovation.

Against this backdrop, several notable trends have emerged as Nigeria navigates its renewable energy journey, albeit tortuous. By happenchance, Nigeria is massively endowed with renewable energy sources. These sources are locally available, low hanging and ubiquitous in rural and urban parts of Nigeria. Concisely, the major available renewable energy sources include:

Solar Power: Nigeria boasts of abundant sunlight, making solar power an increasingly attractive option. It presents the best by-pass towards massive rural electrification in Nigeria. Solar installations, both large-scale and decentralized, are proliferating across the country, significantly improving energy access to homes and offices. 

Wind Energy: Wind power is gaining some traction in the northern part of Nigeria. Wind farm projects promise to augment the nation’s power generation capacity as windmills are largely handy for irrigation water pumping. Despite the huge potentials, wind energy development remains largely unexplored and at infancy stage. The reasons for this, amongst many others, are the heightened insecurity and underinvestment. 

Hydropower: Hydropower being energy generated from dams, rivers, waterfalls or other body of water is readily available in Nigeria. Nigeria has a couple of hydropower stations but the sector still has so much to offer. The hydropower potential remains huge and despite the available dams, more are needed to close the energy generation deficit.

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Biomass and Bioenergy: These sources of energy are already with us for ages especially in our local communities and derivable from agricultural, forest and waste material. Energy can be generated with wood (saw dust), rice husk, animal and human wastes for electricity generation and clean cooking.

With a population of over 200 million people, Nigeria is estimated to be in demand of about 98,000 megawatts (mw) as against the actual output of about an abysmal 4,000mw leaving a deficit of about 94,000mw of darkness. From where do we make up the balance? A nation with a constantly growing un-electrified population cannot escape poverty. It was for the good of mankind and the imperativeness of it that God created light first. So much work is to be done as we have a national emergency in our hands to light the country. 

Since its foray into the power sector in 2010, GreenKapital Energy has remained consistent and committed in lighting up Nigeria. Through its philosophy of offering client-centric services, the company offers free consultancy to clients and non-clients and creates eco-friendly solutions that are adaptive and tailor made for clients in relation to their power problems and needs. 

Concerns have been raised over the undue centralization of power distribution through the national grid. Most communities are not on the national grid and in darkness. But if we have the right power sector reforms, it is expected that the future will look bright for every business, household and community in Nigeria in having access to power through the renewable energy off grid system. Health facilities, schools, community integrated water systems and other basic amenities in local communities that are underserved and bereft of the national grid poles, are being energized by solar power today. With the withdrawal of subsidy on petroleum, Nigerians are embracing solar energy as the cost of fueling generators is not sustainable. 

Despite the giant strides by GreenKapital, the landscape of renewable energy practice is not yet “uhuru”. There is a need for a well-integrated and coordinated national energy policy and roadmap to galvanize more investors into the sector and create easier access to clean, safe and renewable energy. It is seriously advocated that more private companies should join GreenKapital in growing the economy through provision of green energy which will create job opportunities as well.

Over the years, the Federal Government has set out good plans to promote the renewable energy sector through the National Energy Policy (NEP) and The Policy Guidelines on Renewable Electricity, but the sector remained troubled. It is heartwarming that further sector reforms have birthed the brand new Electricity Act 2023 which was signed into law by the president on the 9th of June, 2023 introducing fresh breath into the system. The new Act further decentralizes and de-monopolizes the Nigeria Electricity Supply Industry (NESI) and incentivizes investment in the renewable energy projects for private investors by introducing – tax incentives, simplified licensing structures, feed-in tariff policy, operation of mini-grids etc. While this is a good development, it is hoped that this piece of legislation is made to work and walk. 

Government must also look into creating special funds, easily accessible grants and friendly credit facilities for renewable energy companies and manufacturers to go into fabrication of components of renewable energy machines. At 63, Nigeria cannot leave the industry players to continue to import the technologies – batteries, solar panels etc with the squeeze on foreign exchange, if the sector must grow. It is hoped that the new legal and regulatory framework when implemented religiously will ensure the protection of private renewable energy investors and release energy to Nigerians.

With the emerging trends in the power sector and a growing population, Nigeria’s pathway to economic growth is to go green with GreenKapital Energy.

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