\n
The Nigeria Sovereign Investment Authority has launched a $500 million Renewables Investment Platform for Limitless Energy dedicated to developing renewable energy projects across the entire value chain to reduce the power deficit in the country.<\/p>\n
In a statement issued in Abuja on Sunday, the agency said that executing a strategic partnership agreement with the International Finance Corporation accompanied the launch of the platform known as RIPLE.<\/p>\n
It stated that with RIPLE, the NSIA would expand energy access, enhance energy efficiency and ensure energy security.<\/p>\n
Accordingly, \u201cthe pilot for this initiative is located within the Tokarawa Industrial Hub in Kano State, and it involves setting up a generation and distribution system to meet 70 megawatts of unsuppressed energy demands of industrial activities, commercial enterprises, and residential customers in an area covering about 9,000 connections,\u201d the agency stated.<\/p>\n
The Programme Manager of RIPLE, Yusuf Umar, said, \u201cWe are excited to partner with the International Finance Corporation to advance the transition to energy-efficient solutions in Nigeria\u201d.<\/p>\n
The development comes as over 45 per cent of Nigeria\u2019s population still grapples with a lack of access to electricity.<\/p>\n
NSIA unveils $500m renewable investment platform to reduce power deficit in Nigeria<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
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