Renewable energy experts seek 10% market share

Stakeholders in the renewable energy sector have called for partnership with the Federal Government to achieve at least 10 per cent market share in Nigeria.

Managing Director and Chief Executive Officer, Petrocam, who also doubles as Managing Director, Gennex Technologies, Patrick Ilo made the call in Lagos, while announcing the inaugural renewable energies’ discourse, Gennex Colloquium 2022.

Ilo said there was an urgent need for operators in the energy sector to collaborate with experts and stakeholders in renewables to break into the market.

This, he said, was necessary in order to bridge the energy gap by at least 10 per cent of the over 200 million population market share.

He said, “The renewable energy sector has made tremendous progress over the last several years, from opening up the sector to foreign direct investment, standidisation of inputs to key policy trusts designed to galvanise investments in the sector and ensure smooth transition to clean energy.

“Despite this giant stride, challenges still abound. The renewable energy sector needs the support of the Federal Government. For a start, what we ask for is just 10 per cent of the over 200 million Nigerian population market.

“From there, we will continue to open up the market to new frontiers. We are looking forward to when every household will be off the national grid.”

The Executive Director, Gennex Technologies, Toyin Ilo, said one of the major challenges confronting the renewables sector was how to properly size and design solar solutions to make them more cost reflective and at the same time durable.

She said, “At Gennex, we have blazed the trail by coming up with innovative approaches to tackling this problem.

“But the situation in the entire industry is not helped by the proliferation of experienced and unequal solar installers who advise commercial, industrial and even residential customers on solutions design and sizing, and choice of input.

“That is what the conference is all about. We have to make noise about it and make sure people are aware of the numerous advantages in renewables.”

The theme of this year’s colloquium is, ‘Delivering Sustainable Energy Across Africa’.


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