The organizers held the 7th International Trade Fair and Conference on Power, Energy, Renewable, and Electrical Industry, also known as Powerelec Nigeria, at the Landmark Centre, Victoria Island Annex, Lagos, from 20th to 22nd February 2024. This year’s theme was ‘Vision to Action: Pioneering Sustainable Power Solutions for Economic Growth in Africa’. The event was the largest in West Africa, attracting over 120 exhibitors, 500 pre-registered buyers, and 5000 trade visitors from various countries and sectors.

Redefining Solar Projects Deployment

The Ministry of Power, Energy, and Mineral Resources, the Manufacturers Association of Nigeria, the Nigerian Institute of Electrical and Electronics Engineers, the African Solar Industry Association, and the Federation of Indian Export Organizations supported the event. The event also featured country pavilions from India, Turkey, and China, showcasing their latest products and technologies.

Growth Energy participated as a leading international renewable energy company. With operations and teams across Nigeria, Burundi, and Tanzania (Zanzibar), covering East and West Africa, we are redefining the way solar projects are deployed for industries and gated estates. We leverage cutting-edge technology, machine learning, and advanced IoT integration in our projects.

Empower New Energy, Growth Energy, and Reomond at PowerElec 2024.

The Managing Director of Growth Energy, Mr. John Okoro represented the company in interactions with business partners, company owners, and other industry stakeholders, and was accompanied by its local partner Reomond, represented by Mr. Olumide Oluwole, Director of Operations. 

Nigeria’s Renewable Energy Potential

Growth Energy had the pleasure of attending the summit with Empower New Energy whose CEO, Mr Terje Osmundsen delivered a keynote address during the session which focused on ‘Tips and Tricks to get your Solar Projects Finance’. During his Keynote address, he highlighted key requirements for financing solar projects for industries and businesses, including land requirements, KYC checks, and payment risk assessment, among others. 

“We certainly need to examine vested interests surrounding diesel theft, which despite clear examples of the viability of solar power, have left many industries burdened by rising diesel costs and the diminishing availability of grid electricity. The reliability of grid electricity is hampered by below-cost reflective grid tariffs.”

Nigeria’s electricity regulatory environment has improved over the years, and actors agree that the market has a huge growth potential, no one is yet even scratching the surface of the market potential. 

Growth Energy’s participation at the 7th Edition of the Powerelec Nigeria Conference, along with our financing partner and local partner, is a re-affirmation of our Company’s commitment to working in collaboration with private and public sector partners to improve the sustainability of industries and our cities, in line with the UN sustainable development goals and the Africa 2063 agenda