Onshore wind power now affordable, solar to halve by 2020 - Study

NaijaAgroNet: 

The cost of generating power from onshore wind has fallen by around a quarter since 2010, with solar PhotoVoltaic (PV) electricity costs falling by 73 per cent in that time, according to new cost analysis from the International Renewable Energy Agency (IRENA), reports NaijaAgroNet.

The IRENA study, NaijaAgroNet reports, highlighted that solar PV costs are expected to halve by 2020, stressing that the best onshore wind and solar PV projects could be delivering electricity for an equivalent of USD 3 cents per kilowatt hour (kWh), or less within the next two years.

Also, NaijaAgroNet reports that global weighted average costs over the last 12 months for onshore wind and solar PV now stand at USD 6 cents and USD 10 cents per kWh respectively, with recent auction results suggesting future projects will significantly undercut these averages.

According to the Executive Summary of the study, onshore wind is now routinely commissioned for USD 4 cents per kWh. The current cost spectrum for fossil fuel power generation ranges from USD 5-17 cents per kWh.

The Director-General at IRENA, Adnan Z. Amin, was quoted as saying, “This new dynamic signals a significant shift in the energy paradigm. These cost declines across technologies are unprecendented and representative of the degree to which renewable energy is disrupting the global energy system." 

The study, NaijaAgroNet gathered was recently released on the first day of IRENA’s Eighth Assembly in Abu Dhabi on ‘Renewable Power Generation Costs in 2017’ highlights that other forms of renewable power generation, such as bioenergy, geothermal and hydropower projects in the last 12 months have competed head-to-head on costs, with power from fossil fuels.

The findings, NaijaAgroNet reported, had noted that by 2019, the best onshore wind and solar PV projects will be delivering electricity for a USD 3 cents per kWh, significantly below the current cost of power from fossil fuels.

NaijaAgroNet equally reports that for IRENA, competitive procurement practices together with the emergence of a large base of experienced medium-to-large project developers competing for global market opportunities, are cited as new drivers of recent cost reductions, in addition to continued technology advancements.  

“Turning to renewables for new power generation is not simply an environmentally conscious decision, it is now – overwhelmingly – a smart economic one. Governments around the world are recognizing this potential and forging ahead with low-carbon economic agendas underpinned by renewables-based energy systems. We expect the transition to gather further momentum, supporting jobs, growth, improved health, national resilience and climate mitigation around the world in 2018 and beyond,” Amin said.  

Further, NaijaAgroNet reports that IRENA study underscored that auction results are signaling that offshore wind and concentrating solar power projects commissioned in the period between 2020-22 will cost in the range of USD 6-10 cents per kWh, supporting accelerated deployment globally.

“IRENA projects that all renewable energy technologies will compete with fossils on price by 2020,” he said.

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First solar power incubator for showcase, invites proposals

NaijaAgroNet:

The city of Abidjan in Cote D’Ivoire has concluded plans to host the first solar power incubator conference tagged ‘Unlocking Solar Capital Africa’ next month, October, reports NaijaAgroNet.

The conference championed by Solarplaza, NaijaAgroNet reports focuses on connecting solar project development and finance cum investment, will be the first African event featuring a Solar Incubator programme.

NaijaAgroNet gathered, this event is aimed at identifying Solar cells, also called photovoltaic (PV) cells by scientists, which converts sunlight directly into electricity. PV, experts say gets its name from the process of converting light (photons) to electricity (voltage), which is called the PV effect.

Also, it’s aimed at PV projects of potential in sub-Saharan Africa by providing access to funding, commercial and technical know-how.

In addition, NaijaAgroNet gathered, the initiative ‘The PV Solar Incubator, Your Project, Our Expertise, For a Sustainable Future,’ will be launched by Phanes Group in partnership with Solarplaza, Hogan Lovells, responsAbility, and Proparco, and invites PV developers to submit proposals for projects that are based in sub-Saharan Africa, and have a clear Corporate Social Responsibility (CSR) component.

Candidates are asked to submit their proposals before October 1, 2017, via Phanes Group’s website or through the conference website.

Shortlistees, NaijaAgroNet further gathered will be invited to pitch their projects to an expert panel at Solarplaza’s ‘Unlocking Solar Capital Africa’ conference in Ivory Coast, October 25 - 26, where the industry’s biggest players will hold extensive discussions about solutions for Africa’s solar energy funding gap.

Chief executive officer, Phanes Group,  Martin Haupts, revealed to NaijaAgroNet, comes as part of Unlocking Solar Capital Africa’s goal to solve Africa’s solar energy funding gap and Phanes Group's core strategy to collaborate with Africa-focused counterparties, such as local project owners, governments, and developers on projects that seek to create a sustainable future for urban and rural communities across the sub-Saharan region.

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Power generation exceeds 4,000mw in Nigeria

NaijaAgroNet:

Federal Government of Nigeria may have exceeded 4,000 mega watts (mw) which saw to increase in power supply to homes, offices and business across the country, according to the Kande Daniel, special adviser, media and communication to the minister of power, Prof. Chinedu Ositadimma Nebo, reports NaijaAgroNet.

A press statement endorsed by Kande Daniel and sighted by NaijaAgroNet informed that after grid information was released last weekend, Nigeria’s generation capacity has gone up in excess of 4,000mw to 4,105.90mw as at last Tuesday.

Daniel further revealed a breakdown of how generated capacity was shared, with the industrial nerve-centre Lagos and environs getting the highest, a maximum load totaling 985.0mw, while the maximum load allocated to Abuja through Katampe and Gwagwalada power line was 410.80mw.

NaijaAgroNet recalls that Nigeria’s generation capacity as at mid last week stood at 3,795.30mw.

“The latest grid information has dismissed insinuations in some sections of the media that power generation dropped to less than 2,000mw,” Daniel declared.

Pointing out to NaijaAgroNet that the general view since mid-last week suggests that many households now enjoy enhanced power supply in their domains.

The ministry went on to assure on government’s resolve to consolidate efforts at removing all bottlenecks to sufficient power supply.

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Photo: Chinedu Nebo, power minister