Why IFC is Backing Government’s Power Aspiration

IFC-Logo (1)

The International Finance Corporation (IFC) said its decision to invest in Nigeria’s power sector was based on the new thinking at the government’s circles.

Also, the body said it would discuss with communities on how to prevent pollution and other environment hazards, resulting from the use of renewable energy sources such as solar, biomass, coal and others.

IFC’s Country Manager, Eme-Essien Lore, in an interview with The Nation in Lagos, said the agency decided to invest in the country following the decision of the leaders to evolve a new way of thinking, by trying to explore both the conventional and renewable sources to generate power.

She said: “The Federal Government has evolved a new way of thinking, by not solely relying on the two traditional methods of generating electricity—hydro and gas. The government is now implementing renewable energy projects such as solar, biomass and others. “Based on this, IFC decided to invest in the nation’s electricity sector to help improve power supply.

“A combination of hydro, gas, solar, coal and biomass sources of generating power is used by many countries across the world.

“This is the reason behind the decision of IFC to invest in traditional and renewable energy sources in Nigeria and other African countries.’’

According to her, the Federal Government has provided IFC and other institutions with varying measures of developing power in the country, by implementing both the traditional and renewable programes in the country.

She said efforts are in place to ensure that the two methods are effective and free of environmental hazards.

“Different solutions were brought to Nigeria by foreign institutions in order to improve power supply. There are cases where batteries that were used in generating solar electricity produce dangerous odour.

“Also, there is the issue of emission of chemicals coming from the use of biomass generating plant. We would engage communities and other relevant stakeholders in order to provide standards on the issue,” she said.

The Federal Government in 2009 advocated a diversified energy sources to improve power supply. This made the federal and states government to try and implement renewable energy sources such as solar and biomass to complement traditional power generating sourcessuch asthermal and hydro.

Source: The Nation

(Visited 130 times, 2 visits today)

Local News

Tags

Related posts

Top
Powered by Nextier