By Steve Agbota
Soventix, a solar power developer based in Germany, and Gentec EPC, a pioneer in the Nigerian energy industry and distributor of Cummins gas generators in Nigeria, has formed a joint venture to develop solar projects across Nigeria.
With this agreement and respective capabilities, both companies secure a strong market position in the Nigerian solar market.
With just approximately 4000MW of grid power availability and a growing population with over 180 million people in Nigeria, the country faces great demand for cost-effective and reliable energy supply solutions. With the increasing competitiveness of solar energy over fossil fuels, analysts view Nigeria as one of the key solar growth markets across Africa.
At the signing ceremony in Germany, the founder of Gentec EPC, Deepak Khilnani, said: “We are very excited about this partnership with Soventix. Gentec is continually seeking to bring innovative and diversified energy offerings to the Nigerian market and we believe solar energy meets the customer requirements – reliable, affordable and emission free power. The credibility, expertise and proven track record of the Soventix management team gave us a lot of confidence that Soventix is the correct solar partner.”
Chief Executive Officer of Soventix, Thorsten Preugschas, said a reliable energy supply from renewable energy sources is becoming more and more important for African countries, particularly Nigeria, adding that since Africa in particular suffers deeply from the effects of climate change, ecological energy solutions gain importance.
He added that, “combining cost savings with the ecological advantage, we see great potential for solar energy in Nigeria. We believe this will be a successful partnership combining Gentec’s established market presence and strong local service team in Nigeria with Soventix’s comprehensive solar capabilities.”
The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has actively encouraged solar investments into Nigeria to meet the nation’s plans of increased renewable power generation.