Lifecycle
- Effective
- Last change
Country / jurisdiction: Nigeria · Year: 2005 · Status: In force · Level: National · Type: Voluntary
The Renewable Energy Master Plan (REMP) seeks to increase the share of renewable electricity in Nigeria, from 13% of electricity generation -mainly met by large hydro- in 2015, to 23% in 2025 and 36% by 2030. A main driver for such increase is the diversification of the national electricity mix.
Targets for installed electricity capacity are included for Hydro, Solar PV, wind, biomass and solar thermal technologies. Installed capacity should reach 600 MW in 2015 and 2, 000 MW by 2025 for small hydro, 500 MW for solar PV, rise dramatically from 50 MW in 2015 to 400 MW by 2025 for biomass and reach 40 MW for wind energy by 2025. If such targets are met, renewable electricity should account for 10% of Nigerian total energy consumption by 2025.
Simultaneously to this increase in generated power, the REMP targets electricity access improvement in both urban and rural areas, from 42% in 2005 to 60% in 2015 and 75% by 2025.
Regarding the institutional framework dedicated to renewable energy (RE) deployment, the REMP underlines the need for the creation of a specialised fund and Agency (NREA). The REMP also initiates a set of fiscal and market incentives to support RE deployment. On the short term, the plan includes a moratorium on import duties for renewable energy technologies. On a longer run, the plan foresees the implementation of customs duty exemption for imported RE appliances, tax credits, capital incentives and preferential loans opportunities.
Official source: http://www.iceednigeria.org/REMP%20Final%20Report.pdf
Source
https://www.iea.org/policies/4967Canonical document at the regulator. Always cite this URL — not the Vantage detail page — in compliance evidence.