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FIRM URGES FG TO BOOST SUPPORT FOR RENEWABLE ENERGY

Admin
Thursday, 14 October 2021

A renewable energy company in Nigeria, Gennex Technologies, has highlighted the need for the Federal Government to step up its support for the renewable energy sector in the country.

The Executive Director of Gennex Technologies, Mrs Oluwatoyin Ilo, while calling for more government support, lamented the proliferation of low-quality solar products in the market.

She said the company launched what it called ‘Lobo Combo 1.2 KVA Solution’ and solar fan products to provide support to Micro, Small and Medium Enterprises and galvanise the economy.

At the launch in Lagos, she said, “As MSMEs provides 60 per cent of total employment, providing energy access to this critical segment helps sustain job creation, productivity and economic growth for our country.

“This is in line with our company’s mission to provide energy access by delivering efficient, innovative and affordable products and solutions. This also dovetails with the United Nations Sustainable Development Goals 7 and 8.”

According to her, there is a wide gap in the power industry in Nigeria, and Gennex is providing reliable and efficient solutions in the country.

“We partner with Canadian Solar. They have quality solar products. We also partner with some battery-producing companies across the world,” she added.

Ilo said the company was seeking partnership with financial institutions to provide the newly launched product to MSMEs across the length and breadth of Nigeria through creative financial initiatives.

She said, “If the government is giving renewable energy in Nigeria enough support or attention, it would go a long way in reducing the enormous costs being incurred in bringing the products to the country.

“If the environment is conducive, we can also establish a manufacturing plant to produce all the components and it will go a long way in cutting down the cost of renewable energy products in Nigeria.”

Ilo lamented that Gennex Technologies was paying custom duty on batteries, adding, “We still pay custom duty on panels despite the fact that we ought to pay nothing. They usually tell us that there are some components that come with it that attract custom duty.”

About IWIN

The Independent Energy Watch Initiative (I-WIN), an enterprise of Energy ConServ and the Roundtable for the Growth and Development of Power (RODEP), is an online/web based power sector portal that strives to engage stakeholders and the Nigerian public on topical issues in the power sector.

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