Nigeria Gets German Eco Cash

Posted: December 9, 2014 in Econ 101, Technology and Energy

SOURCE: http://www.esi-africa.com/nigerian-renewable-sector-receives-us200-million-from-german-kfw/

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Nigerian Renewable sector receives US$200 million from German KFW

Posted by: ESI Africa

December 5, 2014

On Wednesday, the German Development Bank (KFW) funded a facility worth US$200 million towards driving small and medium enterprises involved in renewable energy projects in Nigeria, allAfrica reported.

Following this announcement, Renate Von Bodden, leader of the German delegation, addressed the Bi-national Commission’s meeting announcing that the KFW had set aside funds for an additional facility valued at EUR 5 million which would provide technical support for the Nigerian energy sector.

She added that Germany has the capabilities to facilitate the growth of the renewable power sector in Nigeria however the issue of polio eradication was hindering the development of the industry.

She highlighted in a statement from the ministry of power that Nigeria was ploughing ahead with its electricity expansion plans through continued efforts, hard work and dedication.

Included in the statement, permanent secretary Godknows Igali said that ‘the co-operation between Nigeria and Germany is a good example of how we can mutually work together for the benefit of our people’, said on behalf of Minister of Power, Prof. Chinedu Nebo.

Nebo applauded Germany for their continued support and vested interest in the Nigerian energy sector. They have contributed significantly to the upliftment of rural communities and local industries such as agriculture who previously struggled due to a lack of electricity and water access.

He added that Germany approved the development of a 1MW renewable power project for the University of Ibadan which will enable researchers to develop advanced renewable solutions for the country.

Nebo concluded by saying that this model could be adopted by other Universities in the region advancing the country’s renewable energy skills and technologies.

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