Wärtsilä’s report suggests that Nigeria can achieve a 100% renewable energy system by 2060 with a roadmap that includes 1,200 GW of renewable capacity and reliance on domestic gas as a transitional fuel. While substantial investments are needed, successful execution could lead to a significant drop in electricity costs and carbon emissions, providing universal electricity access by 2032.
Wärtsilä has released a report titled “Nigeria Leading Africa to Net Zero,” which details a roadmap for Nigeria to achieve a 100% renewable energy power system by 2060. The report emphasizes the importance of a data-driven and cost-effective energy strategy, especially as Nigeria aims to address its increasing energy needs and secure universal electricity access for its population.
The analysis proposes an optimal power system comprising 1,200 GW of renewable energy capacity, alongside 283 GW of energy storage and 34 GW of engine-based power plants for grid stability. This strategy could reduce electricity generation costs by 74% by 2060 compared to 2022, while achieving net zero carbon emissions.
The report identifies Nigeria’s domestic gas reserves as crucial in facilitating the energy transition. These reserves can serve as an affordable bridging fuel to support renewable energy generation, with gas plants being converted to operate on green hydrogen by the early 2040s.
Wale Yusuff, Managing Director of Wärtsilä Nigeria, stated that if the proposed power system roadmap is successfully executed, Nigeria can fully decarbonize its energy system and meet the demands of its growing population. He highlighted plans for universal electricity access by 2032, phasing out outdated diesel generators.
Though the plan requires substantial investments—estimated at $18.7 billion by 2030 and $425 billion by 2060—Yusuff noted that attracting such investment necessitates significant policy reforms. He expressed concerns about the current regulatory environment, which carries excessive risk for project developers despite government efforts to enhance the legal framework.
With rich gas reserves and high renewable energy potential, Nigeria is well-positioned for a successful energy transition. By improving power transmission infrastructure and developing a robust policy framework, the country can advance toward its goal of providing affordable, reliable, and fully decarbonized electricity.
The Wärtsilä report outlines a feasible pathway for Nigeria to achieve a 100% renewable energy system by 2060, emphasizing the need for substantial investment and policy reform. The integration of renewable energy, energy storage, and domestic gas is crucial for decreasing costs and enabling universal electricity access. Successful implementation could lead to a decarbonized power system that meets the demands of Nigeria’s growing population, provided that challenges in investment and regulatory frameworks are addressed.
Original Source: www.itnewsafrica.com
