The European Union and the Government of German are supporting a new scholarship programme on solar energy and energy efficiency, targeting over 185 participants.
It was gathered in Abuja on Friday that the programme, which started on August 10, 2020, would among other things, enhance the skills of trainees on how to access funds for the development of renewable energy projects in Nigeria.
The exercise, tagged ‘Nigerian Finance Training Programme on Solar Energy and Energy Efficiency’, consists of a six-week online course and a three-day face-to-face training in Abuja and Lagos.
Renewable energy and energy efficiency technologies offer significant cost-saving and business opportunities in Nigeria but these technologies typically require high upfront investments.
Access to finance for such investments is currently limited and this is largely due to the unfamiliarity with renewable energy and energy efficiency applications, which affect the perceived risk of investments in these technologies.
Head of Section, Economic Cooperation and Energy of the Delegation of the European Union to Nigeria and ECOWAS, Katrine Thomsen, explained in a report made available to our correspondent how the training would impact the sector.
She said, “The Solar Energy and Energy Efficiency Training will teach project developers to develop bankable project proposals that are suitable for funding.”