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Home Energy Electricty

NERC Unveils Solar Auction Framework to Boost Nigeria’s Renewable Energy Capacity

Business 360 by Business 360
September 18, 2024
in Electricty, Energy, Solar Energy
0
Federal Govt. commissions N146m solar power plant in Sokoto

The Nigerian Electricity Regulatory Commission (NERC) has organized a workshop in Abuja to showcase key findings from two landmark studies—the Variable Renewable Energy (VRE) Integration Study and the Solar Auction Framework Study—as part of Nigeria’s efforts to launch its first utility-scale solar auction.

Conducted in partnership with the World Bank, the Federal Ministry of Power, and the Transmission Company of Nigeria (TCN), these studies are set to guide Nigeria’s transition to large-scale solar energy generation.

Bringing together government officials, energy experts, and World Bank representatives, the workshop provided an in-depth analysis of the VRE integration study, which explores the potential and challenges of incorporating substantial solar energy into Nigeria’s electricity grid.

The study highlights the ability of solar power to significantly enhance Nigeria’s energy supply while addressing concerns about grid stability and integration.

The Solar Auction Framework Study, a crucial component of the initiative, outlines the guidelines for Nigeria’s inaugural grid-scale solar auction. NERC emphasized that the framework ensures a transparent and competitive bidding process. The roadmap includes detailed criteria for project selection, financial models, and regulatory policies to ensure the success of solar projects across the country.

As Nigeria grapples with energy shortages, this move is expected to unlock significant renewable energy potential and help meet growing electricity demands sustainably.

Tags: #EnergyTransitio#NERC#NigeriaElectricity#NigeriaSolarAuction#RenewableEnergy#SolarEnergy
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