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Clean & Renewable Energy for Nigeria

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  • 1. HARNESSING NATURE’SENERGY FOR NIGERIANigeria’s increasing Power Deficit, political stability fueling growth, andexploring its potentials to generate clean and abundant energy to meetits ever growing appetite. Bon appetite!
  • 2. TABLE OF CONTENTSContentsExecutive Summary ______________________________________________________________________________________ 1Strategic Highlights_______________________________________________________________________________________ 2Financial Highlights ______________________________________________________________________________________ 4Operating Highlights _____________________________________________________________________________________ 6Independent Auditor’s Report___________________________________________________________________________ 8Contact Information ______________________________________________________________________________________ 9Company Information ____________________________________________________________________________________ 9
  • 3. CLEAN ENERGY FOR ALLExecutive SummarySTRATEGIC HIGHLIGHTSRecent Trends in Nigeria is reflective of the fact that with a stable democracy finally arriving in Nigeria,businesses are actively seeking refuge in this “World’s last open and available market”. With this, thegovernment is frantically looking at means to improve its basic infrastructure to support and propel thisopportunity. 30 Years back, when the country found its oil sources, a similar opportunity had come, but itfailed to en-cash on it, for various reasons (This article is not about that failure). This time, the people andtheir leaders are not going to let it slip.FINANCIAL HIGHLIGHTSThis paper will cover details of historical inflation in Nigeria, how the FX rates have fluctuated in the past,how basic fuel prices have changed, and in what way has it affected the GDP of Nigeria. I will also emphasizeon the manifestos of the current government to identify areas where Nigeria is focusing to improve, so as toattract more foreign investments. This will also look into the facts on how global organizations like the UnitedNations, World Bank, IFC, etc., are working towards funding large infrastructure projects, and how improvedtrade relations between Nigeria and emerging economies like China and India, is changing the face of businessin this country.OPERATING HIGHLIGHTSThis paper will provide information on how clean and Renewable Energy is the way forward for Nigerians.You will find interesting facts on Nigeria’s solar irradiance and wind power, you will be able to estimate thecommercial, economic, social, environmental advantages of renewable energy for Nigeria.LOOKING AHEADVitteza Energy is glad to be present in Nigeria during its second stint of success by providing clean andabundant energy to its people and businesses, generating local employment, and thereby improving the socioeconomic status of the country.Palash BagchiDirector, Vitteza Energy Ltd.November 8, 2012Page 1
  • 4. CLEAN ENERGY FOR ALLStrategic HighlightsThe developing nations of Africa are popular locations for the application of renewable energy technology.Currently, many nations already have small-scale solar, wind, and geothermal devices in operation providingenergy to urban and rural populations. These types of energy production are especially useful in remotelocations because of the excessive cost of transporting electricity from large-scale power plants. Theapplication of renewable energy technology has the potential to alleviate many of the problems that faceAfricans every day, especially if done so in a sustainable manner that prioritizes human rights.Access to energy is essential for the reduction of poverty and promotion of economic growth. Communicationtechnologies, education, industrialization, agricultural improvement and expansion of municipal watersystems all require abundant, reliable, and cost-effective energy access. (Source: Wikipedia)Nigeria GovernmentNigeria government follows a federal setup of governance. There are certain constitutional laws according towhich the government of Nigeria works. The constitutional laws are always open to amendments. Theconstitution of Nigeria charters that Nigeria as well as of the respective states should remain a democraticnation. The country is divided into state and local government area where local governments are at work.However, all the states as well as local government areas are ultimately answerable to the central Nigeriagovernment. Minister Ministry Contact Address Mrs. Hadiza Ibrahim Ministry of Addresses of Federal Ministries Mailafa Environment Mr. Ministry of Trade & - More Addresses Olusegun Aganga Investment 9th Floor Federal Secretariat Towers, Shehu, Arc. Mike Federal Ministry of Shagari Way, Central Area, P.M.B. 468 Garki, Onolememen Works Abuja Nigeria Tel: 09-5234014, 5234119 Minister of State - 9th Floor Federal Secretariat Towers, Shehu, Ambassador Bashir Federal Ministry of Shagari Way, Central Area, P.M.B. 468 Garki, Yugudu Works Abuja Nigeria Tel: 09-5234014, 5234119 http://www.fme.gov.ng - More Addresses Ahmadu Bello Way, Central Area, P.M.B. 14 Garki, Federal Ministry of Abuja Nigeria Tel: 09- Ngozi Okonjo-Iweala Finance 2346290. http://www.fmf.gov.ng - More AddressesPage 2
  • 5. CLEAN ENERGY FOR ALL Minister of State - Dr. Yerima Lawal Ahmadu Bello Way, Central Area, P.M.B. 14 Garki, Federal Ministry of Ngama Abuja Nigeria Finance Tel: 09-2346290 - More Addresses Maputo Street, off Abidjan Street, Wuse Zone 3, P.M.B. 130, Garki Abuja Nigeria. Tel: 09-5230204- Amb. Olugbenga Federal Ministry of 6, 09-5230570, 09-5230825, 09-6002588, 09- Ashiru Foreign Affairs 5230490, 09-5230492, 09-5230828,09-5230185- 9http://www.mfa.gov.ng - More Addresses Maputo Street, off Abidjan Street, Wuse Zone 3, P.M.B. 130, Garki Abuja Nigeria. Tel: 09-5230204- Professor (Mrs) Minister of State 1 - 6, 09-5230570, 09-5230825, 09-6002588, 09- Viola Onwuliri Foreign Affairs 5230490, 09-5230492, 09-5230828,09-5230185- 9http://www.mfa.gov.ng - More Addresses Maputo Street, off Abidjan Street, Wuse Zone 3, P.M.B. 130, Garki Abuja Nigeria. Tel: 09-5230204- Dr. Nuruddeen Minister of State II - 6, 09-5230570, 09-5230825, 09-6002588, 09- Mohammed Foreign Affairs 5230490, 09-5230492, 09-5230828,09-5230185- 9http://www.mfa.gov.ng - More Addresses Maputo Street, off Abidjan Street, Wuse Zone 3, P.M.B. 130, Garki Abuja Nigeria. Tel: 09-5230204- Minister of State for Mr. Bart Nnaji 6, 09-5230570, 09-5230825, 09-6002588, 09- Power 5230490, 09-5230492, 09-5230828,09-5230185- 9http://www.mfa.gov.ng - More Addresses Federal Ministry of Mrs. Sarah Ochekpe More Addresses Water Resources Dr. Mohammed Minister of State - Tel: 09-5237112, 09-5238341, 09-5238864 09- Pate Ministry of Health 5233644 Minister of State - Dr. Samuel Ioraer Block H, Old Federal Secretariat, P.M.B. 88 Garki Ministry of Trade & Ortom Area 1 ,Abuja. Nigeria. Tel: +234-9-234-1884 Investment *Last updated: August 2012Page 3
  • 6. CLEAN ENERGY FOR ALLFinancial HighlightsHISTORICAL FX RATESHistorical FX Rate Naira ~ USD2000 85.98 (105.00 PM)2001 99-106 (104-122 PM)2002 109-113 (122-140 PM)2003 114-127 (135-137 PM)2004 127-130 (137-144 PM)2005 132-1362006 128.50-131.802007 120-1252008 115.50-1202009 145-171HISTORICAL PRICES OF DIESEL AND ENERGY PRODUCTIONHistorical Diesel Price (in USD) for NigeriaPage 4
  • 7. CLEAN ENERGY FOR ALLHISTORICAL INFLATION RATEHistorical Inflation Rate NigeriaNIGERIA GDP GROWTH•Page 5
  • 8. CLEAN ENERGY FOR ALLOperating HighlightsCLEAN AND RENEWABLE ENERGYBy investing in the long term energy solutions that alternative energy sources afford, most African nationswould benefit significantly in the longer term by avoid the pending economic problems developed countriesare currently facing. Although in many ways fossil fuels provide a simple, easy to use energy source thatpowered the industrialization of most modern nations, the issues associated with the widespread use of fossilfuels are now numerous, consisting of some of the worlds most difficult and large scale global political,economic, health and environmental problems. The looming energy crisis results from consuming these fossilfuels at a rate which is unsustainable, with the global demand for fossil fuels expected to increase every yearfor the next several decades, compounding existing problems. While a great number of projects are currentlyunderway to expand and connect the existing grid networks, too many problems exist to make this a realisticoption for the vast majority of people in Africa, especially those who live in rural locations. Distributedgeneration using renewable energy systems is the only practical solution to meet rural electrification needs.NIGERIA SOLAR IRRADIANCEPage 6
  • 9. CLEAN ENERGY FOR ALLWIND POWER Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Year2 Annual Average 5.33 6.29 6.93 6.69 5.95 4.89 4.75 4.59 5.28 4.89 5.28 5.7 wind speed (m/s) EPF 1.13 1.07 1.07 1.21 1.03 1.14 1.06 1.06 1.09 1.07 1.22 1.22 Power Density 104.7 163.6 217.8 222.1 132.7 81.4 69.6 62.6 98.1 76.5 109.4 109.4 (W/m2)Source: Physical Science Department, Yaba College of Technology, NigeriaENERGY CONSUMPTIONSource: CBN 2009TAKEAWAYSAverage Cost of Electricity Generation using Diesel Generators in Nigeria comes to Naira 120/KWh.Page 7
  • 10. CLEAN ENERGY FOR ALLIndependent Auditor’s ReportSolar and wind power are extremely scalable, as there are systems available from less than 1 watt toseveral megawatts. This makes it possible to initialize the electrification of a home or village with minimalinitial capital. It also allows for dynamic and incremental scaling as load demands increases. Thecomponent configuration of a wind or solar installation also provides a level of functional redundancy,improving the reliability of the system. If a single panel in a multi panel solar array is damaged, the rest ofthe system continues functioning unimpeded. In a similar way, the failure of a single wind tower in a multitower configuration does not cause a system level failure.Because solar and wind projects produce power where it is used, they provide a safe, reliable and costeffective solution. Because transmission equipment is avoided, these systems are more secure, and lessvulnerable to attack. This can be an important feature in regions prone to conflict. Wind and solar powersystems are simple to set up, easy to operate, easy to repair, and durable. Wind resources and solarresource are abundant enough to provide all of the electrical energy requirements of rural populations,and this can be done in remote and otherwise fragmented low density areas that are impractical to addressusing conventional grid based systems.Page 8
  • 11. CLEAN ENERGY FOR ALLContact Information PALASH BAGCHI DIRECTORCompany InformationVitteza Energy Ltd.No. 57, Adeola Odeku Street, Victoria Island, Lagos, Nigeria.Tel +234 7093566480Email palash.bagchi@vittezaenergy.comwww.vittezaenergy.comPage 9