Financial Energy Review
……..by Victor Egbo..,….
The Nigerian Electricity Regulatory Commission (NERC) has organized a workshop in Abuja to present key findings from two pivotal studies related to Nigeria’s grid-scale solar energy program. The studies— the Variable Renewable Energy (VRE) Integration Study and the Solar Auction Framework Study—were carried out in collaboration with the World Bank, the Federal Ministry of Power, and the Transmission Company of Nigeria (TCN), according to a statement from NERC.
The workshop gathered stakeholders from the government, energy sector, and international bodies, including the World Bank, to delve into the findings of these studies. The VRE Integration Study evaluates both the opportunities and challenges associated with integrating large-scale solar energy into Nigeria’s national grid. This study underscores the significant potential for solar power to improve Nigeria’s electricity supply while addressing issues related to grid stability.
The Solar Auction Framework Study offers a comprehensive guide to Nigeria’s upcoming grid-scale solar auction. NERC emphasized that the framework is designed to ensure transparency and competition in the bidding process. The document lays out a roadmap for the auction, detailing criteria for project selection, financial models, and regulatory guidelines.
NERC concluded that these studies are critical for the successful implementation of Nigeria’s solar program, which is vital for meeting the nation’s renewable energy targets and building a more sustainable and resilient power sector.
