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Solar Firms Seek Funds as Demand Booms in Power-Deficit Nigeria

  • Firms have cut diesel demand by half with solar installations
  • Solar prices are about 72% cheaper than diesel in Nigeria
Daystar Power installing a 600kWp solar plant for Primlaks’ frozen foods division in Lagos.
Daystar Power installing a 600kWp solar plant for Primlaks’ frozen foods division in Lagos.Source: Nyancho NwaNri

Solar providers in Nigeria are seeking to raise additional funds to expand as a surge in diesel prices to run generators prompts companies to switch to the renewable power source.

Solar energy providers are seeing increasing installations this year after diesel prices surged 181% in the West African country. Most companies in the continent’s biggest economy rely on private generators to run everything from factories to offices as the national grid is unable to supply enough electricity.