Page 14 - AfrElec Week 39

AfrElec NEWS IN BRIEF AfrElec

Lumos aims to boost its customer base in
Côte d’Ivoire. Both financing rounds will help
solidify Lumos’s position as the solar home
system market leader in West Africa.
In a recent interview with pv magazine,
the Lumos Global Chief admits that mini
and microgrid business models aren’t fully
scalable, and hence ineffective in meeting
West Africa’s electricity demand. He added
that some investors are looking at large-
scale deployments, which would be a better
alternative to lighting up a larger population,
but they all take a huge amount of time.
From an economic perspective, investing
in solar will unlock Africa’s potential for
growth, generating more revenue. This is one
of the reasons why DFC has been generously
funding solar solutions in sub-Saharan Africa
with the hope of improving living standards
and delivering a prosperous economy.

STORAGE
restore the supply of up to 360MW of support and services from GE throughout
electricity to the national grid. these uncertain times while ensuring and Global energy storage
This was achieved despite the challenges maintaining the health and safety of our
posed by the COVID-19 pandemic, GE noted employees and suppliers,” said Elisee Sezan, capacity to grow at 31% per
that the company’s team worked with NDPHC CEO for GE’s Gas Power business in sub-
to swiftly implement safety procedures to Saharan Africa. year to 2030
ensure safe and on-time execution. GE
“Being Nigeria’s largest electricity Wood Mackenzie’s latest report shows
generating company, with a total installed global energy storage capacity could grow
capacity of 4.0GW, representing about 35% SOL AR at a compound annual growth rate of 31%,
of Nigeria’s generating capacity, we are reaching741GWh of cumulative capacity by
committed to strengthening Nigeria’s power Lumos receives $35 million 2030.
sector, despite the unexpected logistical Front-of-the-meter (FTM) will continue
challenges of the COVID-19 outbreak,” said from US to provide green to dominate annual deployments and will
Chiedu Ugbo, NDPHC’s managing director. account for up to 70% of annual total capacity
Ugbo added: “GE’s efficiency to mobilize power to 1mn Nigerians additions to the end of the decade.
local teams on-site with the required technical Wood Mackenzie principal analyst Rory
skills and expertise, as well as GE’s global Nigeria-based pay-as-you-go (PAYG) McCarthy said: “We note a 17% decrease in
supply chain scale was crucial to ensure the solar home system provider Lumos Global deployments in 2020, 2 GWh less than our
timely and safe completion of the outages at has received US$35 million from the pre-coronavirus outlook. We expect wavering
the sites and help us achieve our goal.” U.S. International Development Finance growth in the early 2020s, but growth will
The outages involved stage three bucket Corporation (DFC) to expand its off-grid likely accelerate in the late 2020s, to enable
changeouts on three 9E gas turbines as well solar home systems installation project, increased variable renewable penetration and
as additional combustion inspections, the which will see 160,000 new solar home kits the power market transition.”
company stated. benefiting nearly one million people. Energy storage is still a nascent market,
Engineers from GE and its field services According to Alistar Gordon, Lumos a relatively new investment class with
execution company, FieldCore, worked Group CEO, the DFC funding will empower underlying risks. The stakeholders – whether
together and in close collaboration with many Nigerians to seize the numerous end-consumers or big equity investors - are
NDPHC to implement additional safety opportunities that come with access to interested in continuing to invest in the sector
measures and reduce the risk of exposure to affordable and reliable power. “Access to and do not appear to be hindered by the
COVID-19, including frequent disinfections energy is the foundation for a high quality of pandemic and economic recession impacts.
at the site, physical distancing, standard life, good healthcare, education, and increased McCarthy said: “Investment decisions are
passive and active temperature screenings for income. Our ultimate goal at Lumos is to likely to be pushed back in some cases, but
personnel, and the use of personal protective provide power to everyone,” he said in a press the general trajectory of the power market
equipment such as masks and gloves. statement issued. transition and the need for energy storage to
“We are committed to supporting power The news follows another round of funding enable this has not changed.
plant operators like NDPHC to be able to from Dutch entrepreneurial development “If anything, the transition may be
provide reliable power with exceptional bank FMO, announced in August, in which accelerated as governments around the world

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