The African Development Bank (AfDB) survey, according to the Chief Executive Officer (CEO) PyroGenesys Ltd, Mr. Simon Ighofose, has said with 51% of people in rural areas, it is the largest global mini-grid market.
The study, he said, indicates that over 80 million Nigerians have no access to electricity.
He estimated the country’s mini-grid market to be a net worth of $9billiion (N3.2trillion) annually.
His words: “Development of off-grid alternatives to complement the grid creates a $9billion (N3.2trillion) yearly market opportunity for mini-grids.”
He spoke in Abuja yesterday as the InnovateUK KTN launched Round 9 for applicants to win a £20 million (about N10.1 billion) grant for energy innovations under its Energy Catalyst scheme.
Ighofose said Nigeria can generate 2,000 Megawatts (MW) daily from waste.
He also explained that Nigeria produced 25 tons of cassava, rice and maize wastes yearly which can generate 18 terawatts hour of renewable energy equivalent to 2,000 megawatts daily.
Meanwhile, the Knowledge Transfer Manager of UK Innovate, Joshua Adedeji, said the pitch which closes by 10th August would require potential Nigerian innovators to partner with a UK innovator to submit pitches.
The firm said the Round 9 focuses on countries in sub-Saharan Africa, southern Asia clean with themes on energy, transforming energy access and gender equality and social inclusion.
“Very soon, Nigeria will become the testing ground for this innovation. With our partnership we are making the manufacturing of batteries a reality in Nigeria,” he said.
Dave Nwosu, whose Nevadic Limited got £1m in the 8th Round, said the group was developing a sodium ion battery system for portable solar energy systems which is cheaper than the lithium ion battery.
According to the Regional Lead of the Global Alliance Africa, Sophie West, the Energy Catalyst platform is a key energy access focused grant funding initiative, having invested more than £60m in over 360 projects in eight rounds.
According to the Managing Director, Rural Electrification Agency (REA), Engr Ahmad Salihijo, noted that the three key drivers for energy access are having the technical expertise, having funding and then the need for an investor friendly environment
