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This is an annual dialogue among world leaders on energy transition challenges and solutions. This year’s edition, which is ninth in the series, is themed, “Securing a Green Future.” It aims to drive a global energy transition towards ensuring the security of supply, climate protection and also economic growth.
The International Energy Agency forecasts that renewable energy power capacity will go up by 50% between 2019 and 2024.
Electricity in the country has been epileptic in the past month and it has been blamed on poor supply from the country’s national grid. Power generation companies have also attributed the issues to the N1.6 trillion debt owed to them by the Nigerian Bulk Electricity Trading Plc.
On March 6, 2019, the World Bank announced a new program to help developing nations especially those with populations living without access to reliable electricity to fast-track the process of adopting offshore wind energy. This is a program Nigeria can invest in to boost her energy supply potentials. However, with existing technology, there is no way to construct offshore wind farms without the offshore oil platform. It is not just only a cheaper way to get wind power and let wind developers place their turbines further out to sea according to SeaEnergy Renewables. It is also an opportunity for oil companies to diversify their revenue by selling excess generated energy to the grid.
