REA to Reduce Cost of Mini Grid Power Generation by 60%

By Chineme Okafor in Abuja

Nigeria’s Rural Electrification Agency (REA) on Wednesday disclosed that it is pushing to ensure that the cost of deploying mini grid-based power generation across the country is cut down by 60 per cent.

To achieve this, REA stated in a statement it sent to THISDAY in Abuja that it would, for about three days, engage a United States-based institute — the Rocky Mountain Institute (RMI) — and other leading global stakeholders and investors in the global mini grid electricity market to develop a new strategy in this regard.

REA explained that the dialogue with RMI and others would when concluded create a roadmap that is both actionable and scalable, through which system costs, demand stimulation, and enabling policy measures would be initiated and used in developing and deploying mini grid power systems in Nigeria.

It tagged the three-day event as ‘the 20 by 20 Design Charrette’, adding that its partner in this, the RMI, was founded in 1982 as an independent non-profit organisation, interested in transforming global energy use to create a clean, prosperous, and secure low-carbon future.

REA noted that RMI also engages businesses, communities, institutions, and entrepreneurs to accelerate the adoption of market-based solutions that cost-effectively shift their energy sources from fossil fuels to efficient renewable energy sources.

Details later…

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