By Faridat Salifu
The Federal Government has secured $950 million in funding for its Distributed Access through Renewable Energy Scale-up (DARES) programme, Abba Aliyu, Managing Director of the Rural Electrification Agency (REA), has announced.
The DARES programme has already seen substantial backing, with previous funding of $750 million from the World Bank and an additional $200 million from the Japan International Development Corporation (JICA).
Involving nine renewable energy companies, including Ashipa Electric Ltd, Oando Clean Energy, and Okra Solar PTY Ltd, the initiative aims to provide electricity to 17.5 million Nigerians.
This will be achieved through a mix of isolated mini-grids, interconnected systems, and standalone solar installations. Specifically, three million citizens will benefit from isolated mini-grids, while 1.5 million will use interconnected ones, and approximately 12 million will be served by standalone solar systems.
Aliyu noted that the DARES project is poised to transform energy access, stating, “The $750 million DARES project is not only signed but already underway, with 14 interconnected mini-grids set to enhance reliability for underserved populations.”
He said plans are in motion to solarize public sector institutions, supported by a N100 billion funding allocation from the government, with implementation expected to begin soon.
Ademola Ogunbanjo, President/CEO of Oando Clean Energy, shared insights into their investment strategy, revealing plans to roll out 600 MW in the next year, alongside a facility that will manufacture and recycle solar panels.
