Press Release
November 25, 2024. Munich / Abuja - EWIA Green Investments GmbH (EWIA) is advancing its expansion strategy in West Africa with the launch of a new subsidiary in Nigeria. The newly established EWIA Green Energy Nigeria Ltd. will design, finance, install, and operate solar energy solutions tailored for corporate and industrial (C&I) clients in Africa’s largest economy. Headquartered in Abuja, the company brings together EWIA, a prominent local solar firm specializing in retail, and key members of its management team as shareholders, combining global expertise with local insight to drive sustainable energy adoption.
"Since early 2023, the legal and regulatory framework for on-site renewable energy generation in Nigeria has seen significant improvements. Entering this dynamic market marks a key milestone in EWIA's growth strategy," says Ralph Schneider, CEO and co-founder of EWIA Green Investments.
Nigeria, Africa's largest economy, contributes 20 percent of the continent's economic output. Despite its strong focus on the export and processing of fossil fuels, the country faces the world’s largest electricity access deficit. Currently, Nigeria's electricity grid meets only about 13 percent of the total energy demand, leaving the majority reliant on self-generated power. As in many other African nations, businesses often turn to diesel generators to meet their energy needs—an option that is both costly and environmentally harmful.
Nigerian government acknowledges the potential of solar energy
Solar energy generation is increasingly promoted in Nigeria as a critical response to the country’s severe energy shortage, unstable power grid, and rising fuel costs. Key initiatives, including the Renewable Energy Master Plan (REMP) and the National Renewable Energy and Energy Efficiency Policy (NREEEP), aim to substantially boost the share of renewable energy in Nigeria’s energy mix, positioning it as a cornerstone of the nation’s sustainable energy strategy.
Significant potential exists for solar systems designed for in-house use, particularly in industrial production sectors such as the food industry—one of Nigeria’s largest and most dynamic markets. “Implementing photovoltaic systems for on-site energy generation can substantially lower operating costs while enhancing sustainability and energy independence for businesses,” highlights Dr. Wolf-Dietrich Fugger, Director West Africa at EWIA.
Investments and financing
“Solar energy provides Nigeria with an opportunity not only to enhance its energy supply but also to foster economic growth and sustainable development,” says Uwe Hassenkamp, shareholder and Managing Director of EWIA Green Energy Nigeria Ltd. The company is committed to advancing the development, planning, financing, construction, operation, and maintenance of solar systems for corporate clients. Alongside its proven solar-as-a-service model, which includes rent-to-own arrangements for photovoltaic systems, EWIA is also emphasizing direct purchase agreements for both ground-mounted and rooftop solar installations.
Market analyses estimate an installation potential of 10 to 30 gigawatts for Nigeria’s C&I solar energy sector. Both local and international companies have ramped up their investments in this growing market. “Nigeria has been making bold strides toward a just and equitable energy transition over the past two years, driven by several key factors,” notes Eghosa Ogedegbe, co-partner and CTO. “Firstly, the increasing demand for electricity. Secondly, the unreliable supply from traditional energy sources. And thirdly, the rising level of investments in renewable energy solutions.”
Triple impact
The transition to solar energy aligns with Nigeria’s commitment to reducing its carbon footprint and combating climate change in line with global sustainability goals. The expansion of the solar industry not only addresses energy challenges but also drives job creation, offering employment opportunities in installation, maintenance, and the manufacturing of solar equipment. This contributes to regional economic growth and increased prosperity. As an EPC (Engineering, Procurement, and Construction) contractor, EWIA Green Energy Nigeria Ltd. will oversee the design, procurement, and construction of solar systems, while also building and training a skilled local workforce to support these efforts.
About EWIA Green Investments
EWIA provides small and medium-sized enterprises in Africa access to clean solar energy and serves as a facilitator for investors in Europe and for the transfer of technology know-how. Based in Munich, Germany, with a branch in Accra, Ghana, the company offers private and institutional investors access to attractive impact investments in the fight against climate change and for a sustainable economic upturn in Africa. With EWIA's flexible full-service financing solutions, companies in Africa have the opportunity to obtain solar power, liquidity, security and service from a single source. In the infrastructure sector, EWIA finances and installs mobile phone towers as well as traffic monitoring systems and equips them with solar systems.
Ewia' means 'sun' in Twi, one of Ghana's national languages, and as a company name it is also an acronym for our mission: 'Enable wealth in Africa'.
Comments