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German bank earmarks $200m for renewable energy

by Business News Report

The German Development Bank – KFW has earmarked $200 million to support the development of renewable energy in the country.
The leader of the German delegation, Renate Von Bodden who disclosed this at a Bi-national Commission’s meeting on energy in Abuja, said the credit facility is in form of Green Credit Line.
The facility it was mentioned, is meant as support base for small and medium enterprises, specifically for the development of renewable energy and energy efficiency projects.
She also disclosed that another facility worth €5 million (Euros) has been set aside for technical assistance through the KFW, adding that the German agency is endowed with required experience that will be useful to Nigerians in developing their capacities in renewable energy projects.
She expressed satisfaction with the commitment so far exhibited by Nigerian officials, just as she said, that the Germans have been working with the Nigerians on a number of energy related projects. “Nigeria is on track with its vision of providing more of its nationals with electricity”, she added.

Bodden promised that Germany will continue to support the various energy related initiatives, stressing, that as far as her country is concerned it is only issues pertaining to Polio Eradication Programme that is sharing equal attention with the energy sector.
In his remark earlier, the Minister of Power, Professor Chinedu Nebo, said that “the co-operation between Nigeria and Germany is a good example of how we can mutually work together for the benefit of our people”.
The minister, who represented by the Permanent Secretary in the Ministry of Power, Amb. Godknows Igali He commended the Germans for the various projects undertaken in Nigeria, as well as their support for the Azura project which has reached advanced stage for fund draw down.
He stated further that after the last Bi-national meeting in Berlin, the Germans have approved the 1MW renewable electricity project for the University of Ibadan. This he said, will also create opportunities for research, as he observed that Nigerians are tired of the nuisance created by diesel run generators.
The success of this project, he said will be a template upon which, same will be replicated in Universities across the 6 geo-political zones.
The Minister also commended the Germans for their intervention in rural development programmes through the provision and access to power for farmers in the rural areas to undertake irrigation activities. On Gas flaring, the Minister assured the Germans that a comprehensive Gas master plan will soon address their concerns adding that Nigeria will appreciate if the Germans are ready to key-in into the nation’s Gas plan.


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