Affordable Energy: Indigenous renewable energy firm partners with Chinese counterpart
Salamatu Ejembi, Lagos
A Nigerian renewable energy company, TNL, has signed a partnership agreement with a Chinese renewable energy solutions company, to provide affordable energy to Nigerians.
The deputy managing director at TNL, Kehinde Olaleye, said the plan was to align the company’s goals to fit into the government’s plans for the provision of basic needs.
Olaleye, while speaking to journalists after the recent partnership signing between the two companies at the ongoing Lagos International Trade Fair, said that providing a solution that saves 50% on energy cost, will reduce the cost of living, which will benefit all Nigerians.
“Our impact and what we want to do with this product is to power up Nigeria. We think this is the right time, with the subsidy being removed. Our goal which fits into the federal government’s goal is education, health, and services.”
Olaleye said the long-term target was to bring the cost of energy solutions in hospitals down so that every Nigerian can afford good healthcare services.
“The other thing is the consumption of things in Nigeria is going higher because the cost of operation of MSMEs companies is about 70% on diesel. So they have to pass the cost to customers.
So, if we provide a solution that saves them 50%, we believe out of that 50%, maybe, 10% will go for profit, 10%, will go for research and development and then 10%, will be reduced from the cost of living, which will benefit all Nigerians,” he stated.
For his part, the co-founder of TNL, Fabian Adeoye Lojede said that Nigeria is at the precipice of a renewable energy revolution.
Lojede said: “This is based on the cost of energy, generally, across Africa and particularly in Nigeria, and the fact that renewable energy like solar and other renewable energy platforms have really improved in technology, and also in accessibility. We’re almost at that stage that we were when GSM came and I think the next kind of technological revolution that will take place is the adoption of renewable energy platforms and formats.”
The Managing Director, of TNL, Femi Numa, while giving his welcome address, reiterated TNL’s commitment to establishing a lasting legacy in the energy sector.
The International Sales Director at the partnering firm, LithTech Global, Leo Liu, said the firm was willing and ready to train Nigerians in solar energy technology, offering off-grid solutions to both residential and commercial customers.
