Nigeria's REA Advances Small Hydropower Projects with New Financing
The Rural Electrification Agency (REA) in Nigeria is shifting focus to small hydropower projects, supported by €200 million from the European Investment Bank and a $700,000 ECOWAS grant for solar initiatives. This move aims to utilize dormant water resources and enhance renewable energy financing through Public-Private Partnerships.
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The Rural Electrification Agency (REA) is advancing small hydropower projects in Nigeria, backed by €200 million from the European Investment Bank and a $700,000 grant from ECOWAS. This initiative emphasizes 'run-of-river' hydropower, minimizing environmental disruption while addressing the long-standing 'Execution Gap' in project financing.
The REA collaborates with AP3 Advisory and UK PACT to ensure technical and financial feasibility, with pre-feasibility studies underway in Oyo, Nasarawa, and Kano states. Aligning these projects with the Electricity Act 2023 will support the commercial viability of mini-grids, targeting underserved communities. Successful implementation could significantly improve energy access and attract private investment in Nigeria's renewable sector.
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