Central Bank of Nigeria ponder USD-4.3m renewables investment - report
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The Central Bank of Nigeria (CBN) is mulling over pouring some NGN 1.53 billion (USD 4.25m/EUR 3.45m) into off-grid renewable energy projects across the country, the New Telegraph reported on Monday.
This was announced by Javier Betancourt, the chief of party for the USAID-funded Renewable Energy and Energy Efficiency Project (REEEP) in Nigeria, who told the newspaper that United States Agency for International Development (USAID) is holding talks with Apex Bank for the investments.
USAID and its partner Power Africa have just completed the REEEP initiative, which was introduced in 2014 to facilitate the development and financing of renewable energy and the energy efficiency projects in Nigeria.
According to Betancourt, about USD 2.1 million (EUR 1.7m) in financing has been provided for renewable energy and energy efficiency projects in Nigeria under the REEEP.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.