Improving energy access through infrastructure development
CEO of Fenchurch Group, Olufemi Bakare says building decentralised and localised power generating and distribution capacities at sub-national levels is key to delivering energy access to the last mile. Speaking with CNBC Africa, he notes the Nigerian Electricity Act is opening up new opportunities for investors to leverage across the power value chain.
Tue, 28 Nov 2023 15:15:11 GMT
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AI Generated Summary
- Decentralised and localised power generation and distribution capacities are essential for improving energy access in Nigeria, particularly at sub-national levels.
- Financial viability and sustainability metrics play a crucial role in ensuring the success and scalability of decentralised energy projects.
- The integration of e-mobility solutions with energy distribution networks presents a unique opportunity to enhance transportation sustainability and reduce carbon emissions.
In a recent interview with CNBC Africa, the CEO of Fenchurch Group, Olufemi Bakare, shed light on the importance of building decentralised and localised power generating and distribution capacities at sub-national levels to enhance energy access in Nigeria. Bakare emphasized that leveraging the opportunities presented by the Nigerian Electricity Act is crucial for investors looking to capitalize on the evolving power value chain landscape. The conversation delved into the transformation underway in the energy sector, particularly in states like equity state, where innovative approaches are being implemented to improve energy infrastructure. The implementation of decentralised energy systems not only promises better energy access but also presents financial viability and environmental benefits. Bakare outlined the financial considerations and sustainability metrics that underpin the success of such initiatives, emphasizing the collaborative efforts between private sector entities and state governments. Moreover, the discussion touched upon the burgeoning field of e-mobility and its intersection with energy distribution networks. The integration of e-mobility solutions into the existing power infrastructure marks a significant step towards enhancing transportation sustainability and reducing carbon emissions. Looking ahead, Bakare expressed optimism about the future of Fairchurch Group and its commitment to driving enterprise advancement across Africa. With a strategic focus on infrastructure development, particularly in the realm of power generation and distribution, Fairchurch Group aims to foster partnerships with governmental agencies and industry stakeholders to capitalize on the evolving energy landscape in Nigeria. The holistic approach towards addressing energy access challenges, coupled with an emphasis on sustainability and innovation, positions Fairchurch Group as a key player in the quest for a more efficient and eco-friendly energy ecosystem in Nigeria and beyond.
