Lagos State Set to Establish Renewable Energy University, Construct Lithium Battery Facility
- Lagos State's governor has promised to construct a $150 million lithium battery assembly facility in the Lekki Free Trade Zone
- This is in reaction to the unpredictable electrical supply that has caused significant harm to the state's companies
- To expand access to renewable energy in Lagos State, Sanwo-Olu also inked a MOU with the Rural Electrification Agency
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Babatunde Sanwo Olu, the governor of Lagos State, has pledged to build a $150 million lithium battery assembly plant at the Lekki Free Trade Zone in response to the erratic electricity supply that has severely damaged businesses in the state.
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To foster local creativity and expertise, he also pledged to establish a university focused on renewable energy.
Through his deputy governor, Dr. Obafemi Hamzat, Sanwo Olu also signed a memorandum of understanding (MoU) with the Rural Electrification Agency (REA) to increase access to renewable energy in Lagos State, with a particular emphasis on using rooftop solar systems to power public institutions.
Signed at the Lagos State Energy Summit, Daily Sun reported that the agreement is a major step forward for the REA's State-by-State Initiative and supports the Federal Government's efforts to expand sub-national access to energy under the 2023 Energy Act.
The new cooperation will enable the development of sustainable, distributed energy solutions across Lagos, so tackling the widespread use of over 4 million diesel generators in the state.
Sanwo-Olu, underlined the necessity of strategic alliances in tackling energy concerns.
Plans for Nigeria's first floating solar PV plant (8MW) to power Lagos State University are among the significant projects under the new arrangement that REA's Managing Director/CEO, Abba Abubakar Aliyu, said.
Abba Aliyu, REA's Managing Director, stated in his remarks that the collaboration will also promote the World Bank-supported Distributed Access through Renewable Energy Scale-up (DARES) program and the National Public Sector Solarisation Initiative (NPSSI).
Solar panel factory opens in Lagos
LPV Technologies, a Nigerian solar energy company, has opened a new solar panel factory in Lagos. The company is urging the government to ban the importation of solar panels to encourage local production.
Nigeria struggles with energy shortages, as only about 60% of the country has access to electricity. Solar power is seen as a good alternative, especially for rural areas.
Yinka Adelodun, the Executive Director of LPV Technologies, said the new facility was built to tackle major problems in the renewable energy sector, such as supply chain delays and over-reliance on imported panels.
FG insists on ending solar panel imports
Legit.ng reported that amid the crisis in Nigeria’s power sector, the importation of photovoltaic solar panels has risen in recent years, now amounting to almost N200 billion annually.
However, the federal government has insisted on ending the importation of solar panels as a means to save the much-needed foreign exchange and reduce pressure on the naira.
The government is instead looking in a different direction and has recently revealed what will be the alternative to solar panel imports.
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Source: Legit.ng
