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‘High investment cost hindering renewable energy development’

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The Director-General/ Chief Executive Officer, Energy Commission of Nigeria, Prof. Abubakar  Sambo, has  identified high investment costs of  renewable energy and inadequate legal instrument for renewable  energy development as some of the factors militating against the realisation of the Federal Government’s renewable energy policy.

He also identified inadequate local human and manufacturing capacity for RE & EE development and inadequate incentives for the sub-sector as a problem. He said to overcome the challenges, there should be a  popularised policy, plans and incentives that would enable  continuous capacity building in both human and manufacturing areas.

Sambo,  who was represented by  the Director, Renewable Energy, Energy Commission of Nigeria, Prof. E.J. Bolaji,  spoke during a two-day workshop organised by  the commission and the  National Centre for Hydropower Research and Development, which ended on Wednesday in Ilorin.

The workshop was on ‘Operational impact of hydropower generation on host communities and lowland areas in Kwara, Kogi, and Niger states.’ He stated that Nigeria was endowed with sources of renewable energy such as solar, wind, biomass, hydropower, geothermal and ocean waves in addition to fossil fuel sources.

According to him, energy from those renewable sources can be transformed to supplement the final energy, from conventional energy, needed to grow the economy in a sustainable manner. He stated that renewable electricity was expected to contribute up to 20 per cent in meeting the total electricity demand, while biofuel (bioethanol and biodiesel) was to meet between 10 per cent and 20 per cent of the total fuel demand.

He added that firewood would continue to play a significant role in meeting the domestic heat requirements of many Nigerians, saying that however, its contribution was expected to decline over the years.

From: Punch

Source:http://www.punchng.com/business/energy/high-investment-cost-hindering-renewable-energy-development/