UN, Bank of Industry to invest in renewable energy in Nigeria

The United Nations Development Programme (UNDP) and the Bank of Industry (BOI) are to invest about $4.48 million in renewable energy projects in the next three years to boost the productive capacities of micro-, small-, and medium-scale enterprises (MSMEs) in Nigeria’s rural and urban areas.

Renewable energy projects involve the utilisation of wind, biomass, small hydro, and solar energy options to generate electricity. The Access to Renewable Energy (AtRE) project package unveiled in Abuja at the formal launch of the partnership, is expected to facilitate access to affordable and reliable energy supply alternatives independent of the current supply from the national grid, which has been a source of national concern in recent times.

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