What is the target of 2030 for renewable energy and the importance of “renewable energy Sources” will grow: Specifically in the power sector, predictions indicate that renewable, hydroelectric, and nuclear energy would play a bigger role in 2030. Nuclear energy and hydroelectricity will both grow by 54.5% and 48.5%, compared to a more than 430% rise in the usage of renewable energy. This renewable energy will increase in both OECD and non-OECD nations, but the latter will experience the largest increases, driven by China and India.
Renewables are expected to account for nearly 95% of the increase in global power capacity through 2026, with solar PV accounting for more than half of that. The amount of renewable capacity added between 2021 and 2026 is expected to be 50% higher than between 2015 and 2020.
According to a report in the Vanguard newspaper by Esther Onyegbula, the Minister of State for Power, Mr Goddy Jedy-Agba, yesterday reiterated the government’s commitment to achieving a sustainable energy target for all by 2030.
The assurance was given by the Minister at the 7th Nigeria Energy Forum, NEF, 2022, which was held in Lagos under the theme “Energizing Economic Growth and Sustainability.”
Mr Gabriel Lorsase represented the Minister, who stated that the country had a sustainable electricity vision of reaching 30 GigaWatts (GW) by 2030 with 30% renewable energy.
According to the minister, “we conceived and developed the Nigeria renewable vision platform in collaboration with the German Agency for International Cooperation (GIZ) under the Nigerian Energy Support Programme (NESP) funded by the European Union.” This will serve as a central location for data-driven electrification planning and implementation.
The project’s goal is to enable and encourage investments in renewable energy, energy efficiency, and data-driven electrification planning and implementation, while also increasing energy access. In addition, the federal government and Siemens signed an implementation agreement for the electrification roadmap. The roadmap’s goal is to address existing power sector challenges while also expanding capacity to meet the country’s future power needs.
By making investments in the energy value chain, which includes the generation, transmission, and distribution networks of the power sector, the Presidential Power Initiative (PPI) in Phase One aims to modernize, rehabilitate, and expand the national grid.
“Nigeria is prepared since the country has a clear energy efficiency and renewable energy policy. As a result of the implementation of our Renewable Energy Action Plan, we can state that Nigeria is prepared for the use of renewable energy and that certain projects have already begun to provide Nigerians with clean energy.