Geometric Power to begin solar energy investments from 2019 – Nnaji

Prof Barth Nnaji, while at a keynote address in Nsukka Wednesday during the 36th National Solar Energy Forum of the Solar Energy Society of Nigeria (SESN) stated that with consistent implementation of energy policies by relevant stakeholders and adequate budgetary allocation by government, the country would surely achieve steady electricity.

“Other countries that achieve steady electricity supply did not do any magic but through consistent implementation of energy policies and adequate budgetary allocation to the energy sector. With adequate investment in renewable energy, it would complement and boost electricity supply in the country. Government is not expected to be the main investor in renewable energy but to provide an enabling environment that will attract both local and foreign investors to invest in renewable energy,” he said.

The managing director of Geometric Power Limited, also disclosed that that from next year his company would start investing in solar renewable energy. “It’s very costly to invest in renewable energy but we are putting necessary measures in place. The gestation period may be between two or three years, this is the time to build and put necessary equipment in place that will help produce power from renewable energy sources. Investment in renewable energy takes time and much money that is why few people invest in it.”

Source: The Sun

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