The Universal Energy Facility (UEF), a financing facility managed by Sustainable Energy for All, has shown a commitment to aid in the realization of the Nigeria Energy Transition Plan (ETP) through grants offered to renewable energy companies in the country. Companies operating in the renewable energy sector who had previously applied for funding from UEF’s Stand-alone Solar for Productive Use (SSPU) programme will commence construction on their proposed solar projects with the aid of the grant. Since the commencement of the program in August 2022, over a hundred energy companies have applied to participate in the SSPU programme.
These programs align with the country’s Energy Transition Plan, and aim to provide commercial and institutional customers access to a more sustainable, cost-effective, and stable electricity supply. According to UEF, the project would reach most states in the country and is scheduled to be completed within a period of one year. Moreover, the projects throughout the states aim to link up about 3,500 energy-productive applications, including enterprises, marketplaces, retail malls, cold-storage facilities, clinics, schools, and more.
5,400 tons of CO2 per year will be saved with the projects.
With this program, businesses and individuals will be provided with an alternate opportunity to transition from the current costly and polluting fossil fuel power source to a renewable energy source. As estimated by the UEF, approximately 5,400 tons of CO2 equivalent per year will be saved once all of the proposed projects are implemented. Damilola Ogunbiyi, CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, asserts that the UEF’s programme in Nigeria will illustrate the enabling potential that sustainable energy holds for local economic growth and climate action.
In addition, he said that the facility’s backing of solar projects would provide clean, cheap energy to companies, the ability to expand, generate more profit, create more jobs, and reduce their reliance on dirty fossil fuels which can fuel climate change . Meanwhile, all hands are on deck as Nigeria continues the ETP project implementation process launched in 2021, with the goals of achieving universal energy access by 2030, net-zero emissions by mid-century, and the necessary funding in sight.
UEF’s contribution to ETP will aid the development of companies.
Nonetheless, the UEF’s contribution in this regard cannot be underestimated, notably to the plan’s financial objectives for the power industry by giving grants that firms may use to obtain extra capital for clean energy. Yemi Osinbajo, the vice president of Nigeria, made it public in a statement that the United Energy Fund (UEF) Facility would provide grant payments to solar companies so that they could expand their operations to small and medium-sized enterprises (SMEs) across Nigeria, thereby attracting additional private capital. UEF’s contribution to the country’s Energy Transition Plan is essential as this will aid in the growth and development of companies, hence providing more opportunities for citizens to find gainful employment.
On his part, Goddy Jedy Agba, Nigeria’s Minister of State for Power, described the UEF programme as a schematic representation of strategic investment in Nigeria’s power industry and the country’s overarching goal of providing universal access to electricity. Anita Otubu, the UEF senior director, noted that after a few months of establishing this program in Nigeria, we are already at the stage where grantees have been chosen and enterprises can start creating revolutionary stand-alone solar projects.
The global energy transition must provide energy for people.
According to Simon Harford, CEO of the Global Energy Alliance for People and Planet (GEAPP), the global energy transition must provide energy for people and the earth by opening up new economic possibilities and replacing carbon-intensive industries. Harford also shared the organization’s unwavering support for UEF’s efforts to provide tailored, country-specific solutions to the populations most impacted by energy poverty and climate change. While this is the first grant funding window under the SSPU programme in Nigeria, UEF claims to have discovered more projects worthy of funding.
Related Link
SSPU: Website
UEF offer grants for Nigerian RE companies – Over 100 companies have applied to participate in the SSPU programme. – Express your point of view.
Over 100 companies have applied to participate in the SSPU programme. Nice, this is good way to support and encourage companies in Nigeria.
These initiatives, which are in line with the nation’s Energy Transition Plan, are designed to give institutional and commercial clients access to a more reliable, cost-efficient, and sustainable electricity supply.
Although this is the first award funding session for Nigeria’s SSPU program, UEF asserts to have found other projects deserving of financing.
Grant money from UEF’s Stand-alone Solar for Productive Use (SSPU) program will help renewable energy companies who had requested for assistance get started building their solar installations.
The Universal Energy Fund (UEF), which is a financing facility operated by Sustainable Energy for All, has demonstrated that it is committed to assisting in the implementation of the Nigeria Energy Transition Plan.
Around a hundred different energy companies have expressed interest in taking part in the SSPU program since it first opened for applications in August of 2022.
These initiatives are in line with the national Energy Transition Plan and will help businesses and institutions have access to a cleaner, cheaper, more reliable electricity supply.
The contribution made by UEF to the Energy Transition Plan of the country is very important since it will facilitate the expansion and development of businesses, leading to an increase in the number of chances for citizens to obtain productive work.
Over 3,500 energy-productive applications, including businesses, will be connected thanks to these projects that are spread across the states.
As Nigeria moves forward with the ETP project implementation process, which was initiated in 2021, the goals of achieving universal energy access need the use of all available resources.
The effectiveness of the project with the aim to link up states to be beneficiaries are good intiatives. The aims gives access to a more sustainable, cost-effective, and stable electricity supply.
These grants will no doubt accelerate the ETP project in Nigeria and make people hop on the emerging clean energy as well as creating more job vacancy for the people.
With this step it will help and support Nigeria companies that why 100 companies applied for the program to get encouraged
UEF claims to have uncovered other worthy projects for Nigeria’s SSPU program’s first award funding session.
Businesses and institutions will benefit from cleaner, cheaper, more reliable electricity thanks to these efforts, which are in line with the national Energy Transition Plan.
Companies who use renewable energy and have asked for support to develop solar installations will get grants from UEF’s Standalone Solar for Productive Use (SSPU) program.
The Universal Energy Facility (UEF) grants was offered to Nigerian RE companies to aid Nigeria in the realization of the Energy Transition Plan (ETP).
The Universal Energy Facility (UEF) are offering grants to Nigerians who are willing and have RE company. This is to expedite the realization of the Nigeria Energy Transition Plan (ETP).
The universal energy facility is actually important in the energy sector of the country. The provision of this energy will help facilitate our work and make it easier.