Nigeria’s renewable energy segment has recorded $200million worth of equity investments, Stanbic IBTC Bank’s Head, Power & Infrastructure, Mr Abiodun Oni, has said.
He said the capital is small in view of the investment gap in the off-grid sub-sector of the electricity industry. According to him, more private investments are coming to the sector to make more Nigerians access electricity for growth. He said bonds of between five and 10 years’tenure were issued by operators to raise liquidity that will be enough for the implementation of key infrastructure in the energy sector.
Speaking on the sidelines of a workshop organised by Energy Mix Hub, a subsidiary of Energy Mix Limited, called ‘Nigeria Off-Grid Investment Opportunities’ which was held in Lagos, Oni said there were opportunities calling for investments in solar, wind, biomass, coal and other sources of generating electricity off-grid for Nigeria’s over 190 million population. He said investors were sure of getting returns on investments, if they invest with the right price mechanism provided for operators in the industry.