Investment in renewables drops in emerging markets
New energy investment in emerging economies slipped last year to US$133 billion, far from the 2017 record of US$169 billion, mostly due to a slowdown in China, BloombergNEF has said in its annual Climatescope report.
ERA/FEoN advocates 2% vat on renewable energy products
An environmental group, Environmental Rights Action and Friends of the Earth ERA/FoE has called on the Federal Government to reduce Value Added Tax (VAT) on all renewable energy products to two per cent to fast-track a transition from dependence on fossil fuel to renewable sources of energy. Executive Director of the group, Godwin Uyi Ojo…
FG signs agreements for increased access to power through renewable energy
The Federal Government, through its implementing agency, the Rural Electrification Agency (REA), has signed grant agreements with seven renewable energy investors under the World Bank-funded Nigeria Electrification Project (NEP).
EU lifts Nigeria’s renewable energy reform scheme
To demonstrate its diversity of engagement in transforming the sector, the European Union recently announced a €30 million sustainable energy investment fund for off-grid solution development in the country.
Solar plant repairs to cost sector $16b as demand increases
Nothing less than $16 billion will be expended over the next six years on unplanned solar plant repairs, a new research from Wood Mackenzie said yesterday.
Sterling Bank plans to invest more than N10 Billion in education sector by 2020
Sterling Bank has identified Education as one of the sectors to focus its investment and also make a meaningful impact on the Nigerian economy. It identified the sector as one of the five critical sectors in dire need of investment.
Renewable energy as alternative source of power and funding of renewable energy in Nigeria
Abstract Nigeria has been mainly dependent on the conventional electrical energy for a long time, with little effort being done to develop alternative renewable sources of energy. The electrical energy is insufficient to fulfill the energy needs in Nigeria, with statistics pointing out that 80% of the country’s population thrives on combustible biomass from the…
Global investment in renewable energy hitting $2.5 trillion
Global investment in renewable from 2010 to 2019 is to hit $2.6 trillion, with more giga watts of solar power capacity installed than any other generation technology...