Power availability in Nigeria has somewhat improved in the last three weeks. However, Nigeria still does not have a stable power supply that can guarantee an economic expansion. EnergyNet a power generation forums organiser hopes to make a difference.
As a result of this challenge, leading development finance institutions and heads of Nigeria’s most accomplished energy companies will meet with national government at EnergyNet’s Powering Africa: Nigeria Investment Summit taking place in Abuja from 12-14 October 2016.
Over 50 public and private sector decision makers will address 300 power developers and investors to discuss the driving factors behind power development in Nigeria. The investment summit will underpin Nigeria as a hub for regional gas development as well as an important market for clean and renewable energy. Key themes of the conference include how to diversify Nigeria’s energy mix, regulation policy to promote international investment in renewables, and examining Nigeria’s off grid energy market- promoting energy access for everyone.
This meeting follows EnergyNet’s recently concluded 18th Africa Energy Forum (AEF) in London this June, which welcomed 2,200 vetted investors from the Americas, Europe and Asia, and government representatives from 30 African countries. Major deals were signed at the meeting including a merger between Harith General Partners and Africa Finance Corporation (AFC), KFW’s US$150 million 15 year loan facility to AFC, Access Power’s US$7 million award to three renewable developers, Mainstream’s US$117.5 million Africa Clean Energy Equity Funding and DFID’s two Compacts in Kenya and Sierra Leone, to name a few.
“For 24 years EnergyNet has supported governments across the continent playing an advisory role helping policy makers meet the very best private sector investors. Our role is not unique; however our approach is as individual as a thumbprint, highlighted by the trust the World Bank, Power Africa, IFC, FMO, Proparco, DFID, AfDB and many more who place their trust in EnergyNet, which supports our position as a market-shaper when it comes to global energy development,” says Simon Gosling, Managing Director of EnergyNet.
The meeting is officially endorsed by the Energy Commission of Nigeria, the Transmission Company of Nigeria and the National Power Training Institute of Nigeria. It has the official support of the UK’s DFID-funded Nigeria Infrastructure Advisory Facility, of Germany’s GIZ and of the European Union.