The Renewable energy and energy efficiency association-alliance has applauded President Bola Tinubu for the signing of the Electricity act as it will accelerate private sector Investment in the renewable energy Sector.
In this regard, the alliance has held a one day conference to provide a platform for policymakers and regulators to engage with the private sector and identify policy barriers, and potential solutions to accelerate the private sector investment.
The provision in the electricity act 2023 signed by President Bola Tinubu, promotes the development and use of renewable energy from solar energy, wind, small hydro, and biomass.
This is to be achieved through the issuance of licenses for embedded generation, hybridised generation, co-generation, and the generation of electricity from renewable sources.
The act also highlights the importance of local content in the renewable energy subsector.
It provides that licensees, contractors, sub-contractors, or any other entity executing renewable energy-related activities, must ensure that they incorporate local content as a significant component in their operations.
Now the renewable energy and energy efficiency association-alliance is set to key into the provisions of the act for the improvement of the sector.
It is holding a one day conference, for over 105 energy experts to explore opportunities, challenges, and strategies for increasing private sector investment in renewable energy and energy efficiency projects in Nigeria.
The conference will create a platform to raise awareness among private sector entities about the potentials and benefits of investing in n the renewable energy and energy efficiency sector.
