Financing solar energy projects - Case study in Ugwuoba, Nigeria

We are excited to welcome Chigozie Nweke-Eze, CEO of Integrated Africa Power, to hear about his solar energy project in Nigeria. Chigozie will be joined by Sumit Agarwal, former Partner at AJMS Global, to discuss how best to fund the project. The webinar will be a panel discussion between Chigozie and Sumit, with more speakers to be announced shortly.This is a 2MW Solar Mini-Grid project located in Ugwuoba, Nigeria. The area is populated by more than 10,000 people and has been affected by inadequate power supply. It will involve installing an interconnected solar hybrid mini-grid into a town that has been deemed suitable for generating sufficient demand and productive use of the generated electricity from the construction of this project, due to it receiving 4.5 hours of peak sun. This is a renewable energy project, therefore its activities will provide a sustainable and cost-effective energy source to the area. IAP builds solar systems that work optimally for more than twenty years and achieve energy cost savings of up to 80 percent (with electricity storage). This will help the various business and community centres, household buildings and higher education institutions in Ugwuoba receive an efficient energy supply, whilst crucially reducing their carbon footprint.Their need: Funding to secure $8,000 in order to conduct the feasibility study to collect the level of data required to build the long-term business plan.The $8,000 will be received as a grant to finance the preparation stages of the project. It will specifically go into financing detailed preparation fieldwork consisting of: feasibility studies preparation, community consultation activities, socio-economic needs ascertainment, productive use capacities etc.Feel free to register for the event on the KlimateNet App or on this link. Contact Chigozie Nweke-Eze, CEO of IAP and facilitator of KlimateNet’s Sustainable Finance and Investment community on the KlimateNet App for more information. Download and register on the KlimateNet app to explore more events and projects and connect with others.