Following increased energy deficiency and impact on productivity in the country, a firm, Consistent Energy Limited has called on the federal government to take advantage of huge opportunities that exist in the sector for productive uses of renewable energy.
Managing Director of the Firm, Segun Adaju who spoke in Abuja, said it proposes to distribute one million clean cooking technologies to both retail and commercial users, and at affordable price by 2030.He said, the the company has consulted with organisations such as Heinrich Boell Foundation, ICEED, Ministry of Environment, and commercial banks in developing a finance framework for the distribution of clean cookstoves.
“We have also partnered with UNDP Small Grant Project and D-Prize to promote the use of clean cooking technologies in Makoko Waterfront of Lagos State, and to provide end-user finance for over 80 per cent of the beneficiaries of our products.”He also maintained, the firm has distributed well over 20,000 clean cooking technologies under various funding schemes and in partnership with development partners, microfinance banks and manufacturers.
“The challenges facing its implementation, include, lack of awareness on the technologies; huge initial capital costs of acquiring them, and lack of incentive for the sector, such as VAT exemption, investible funds etc,”he added.He further stated that the entire cookstove supply-chain is a source of economic opportunity at the local level in all cases-central mass production or local business partners for distribution, sales and services.
He said: “To move renewable energy market forward, there must be funding to increase distribution and accessibility by women, but if the government does not create this environment, the clean cooking sector will face exchange rate risk.
“Over 80per cent of rural dwellers still use firewood to cook. It has become imperative to shift the method to clean technologies. This is the biggest opportunity for renewable technologies in Nigeria,” he added.
