*Nigeria to substantially benefit from 100m people global target
As the world sustainably moves to cleaner energy consumption, Shell operations in Nigeria are taking position to be on the lead as it earmarks US$200 million for investment in All On, which is a company established by Shell in Nigeria to drive renewable energy supply in Nigeria.
The Managing Director of Shell Petroleum Development Company Limited (SPDC) and Chairman of Shell Companies in Nigeria, Mr. Osagie Okunbor, told our correspondent Shell Nigeria is not resting on its oars in energy transition drive in line with policies and ambitions of Shell global (Shell PLC).
Shell PLC has acquired several solar and other clean energy plants in several countries to boost its renewable space. Its Nigerian operation has also keyed into that initiative.
According to Okunbor, who spoke to our correspondent on his capacity as the Acting Chairman of Oil Producers Trade Section (OPTS), a sub-group of Lagos Chamber of Commerce and Industry (LCCI), during the 60th anniversary celebration of the OPTS in Lagos, Shell Nigeria is working in alignment with its global operation and is taking key interest in energy transition to cleaner and renewable energy. Shell Nigeria is expanding its space in that regard.
Also, at global level, Shell is looking at reaching 100 million without access to energy, and Nigeria will benefit significantly from that, he added.
He said: “We are also taking a key interest in that, even in Nigeria. You must be aware of access to energy company called All On, which we have seeded and which is primarily set up to address the energy needs of the underserved in the country.
“As a company we are looking to invest substantially – up to US$200 million in All On. At global level, Shell is also very active in power. We are looking to reach a hundred million people across the globe and Nigeria is a key part of that. For renewables, I would just say “Watch this space”.
“Nigeria is a country we are quite active both in terms of clean energy, in terms of gas supply, power and even renewables. Nigeria is part of the big picture in our energy plan.”
Recently SPDC was reportedly said to be set to acquire Daystar Power subject to regulatory approval. Daystar Power is one of the leading providers of hybrid solar power solutions to commercial and industrial hubs in West Africa.
Daystar Power in statement on the potential acquisition, said the acquisition will help it continue its growth in West Africa while expanding its presence to other African countries in East and Southern Africa.
The Lagos-based company said it has a target to increase its installed solar capacity to 400 megawatts (MW) by 2025, while its current installed capacity is about 32MW.
If the acquisition sails through, Daystar Power will become one of Africa’s leading providers of solar power solutions for commercial and industrial businesses.
The Chief Executive Officer of Daystar, Jasper Graf von Hardenberg stated that Daystar Power needed more capital to expand operations to meet the rising demand for solar energy and the choice of Shell as the new parent company comes at the right time. Shell’s strong balance sheet and long history in Africa will help to take Daystar to a new height, he added.
Shell’s Executive Vice-President, Renewable Generation, Thomas Brostrøm, noted that the deal will be Shell’s first power acquisition in Africa and would be a fundamental step for Shell in growing its presence in the emerging power market.
Daystar Power currently has presence in Nigeria, Ghana, Senegal and Togo.
