#1REA RURAL ELECTRIFICATION AGENCY ENERGY EMPOWERMENT = EFFICIENCY THE OFF-GRID OPPORTUNITY IN NIGERIA Upscaling minigrids for least cost and timely access to electricity Action Learning Event Abuja, 4th - 8th December#2THE OPPORTUNITY Nigeria is the biggest and most attractive off-grid opportunity in Africa, and one of the best locations in the world for minigrids and solar home systems Nigeria has the largest economy in Sub-Saharan Africa (GDP of $405 billion), has 180 million people, and a flourishing economy (CAGR of 15% since 2000). A significant amount of the economy is powered largely by small-scale generators (10–15 GW) and almost 50% of the population have limited or no access to the grid. As a result Nigerians and their businesses spend almost $14 billion (# 5 trillion) annually on inefficient generation that is expensive ($0.40/kWh or #140/kWh or more), of poor quality, noisy, and polluting. Developing off-grid alternatives to complement the grid creates a $9.2B/year (N3.2T/year) market opportunity for minigrids and solar home systems that will save $4.4B/year (#1.5T/year) for Nigerian homes and businesses. There is a large potential for scaling-installing 10,000 minigrids of 100 kW each can occur by 2023 and only meet 30% of anticipated demand. Getting off-grid solutions to scale and commercial viability in Nigeria will unlock an enormous market opportunity in Sub-Saharan Africa across 350 million people in countries with smaller demand and/or less-robust economies. The Rural Electrification Agency (REA), tasked with developing the Nigerian off-grid power market, has created the Off-Grid Electrification Strategy which is part of the Power Sector Recovery Programme (PSRP). RURAL ELECTRIFICATION AGENCY 2#3THE BUSINESS CASE Evaluation of specific sites shows a strong minigrid business case for typical locations in Nigeria and indicates there are thousands of high potential sites Unlike many regions in Africa, Nigeria's economy and strong entrepreneurialism mean that millions of commercially-viable businesses are powered with expensive and/or unreliable power. Consequently, there are high densities of power use, large latent demand, and a strong willingness to switch to more effective alternatives. Recent efforts by REA have identified hundreds of high potential sites for investment and demonstrated potential for commercial viability. ㅁ ☐ Deep dive analyses in Ogun and Cross River states show numerous sites that are ready for large-, medium-, and small-scale minigrids, and a significant opportunity to meet more remedial needs with solar home systems. For example, a medium-scale system (e.g., 200 kW) can make commercial returns while covering its cost of capital, creating a return on investment of 3 years—this is a situation not currently found elsewhere in Sub-Saharan Africa. Many rural households spend more than $6/month (#2,100/month) on kerosene or battery powered torches, making a compelling case for solar home systems. The Nigerian minigrid investment brief is available on the REA website www.rea.gov.ng RURAL ELECTRIFICATION AGENCY 3#4PARTNERSHIPS Nigeria has strong development partner support and has established the Rural Electrification Fund for off-grid development - REA established the Rural Electrification Fund (REF) to support the Federal Government of Nigeria's (FGN) Rural Electrification Strategy and Implementation Plan (RESIP), in order to help finance rural electrification expansion in Nigeria. The REF has a legal mandate to promote "fast and cost-effective expansion of electricity access in un-electrified rural areas evenly across the different geopolitical zones in Nigeria” through both off-grid and on-grid electrification solutions. There is strong support from The World Bank, which is working with the FGN to develop a five-year Nigeria Electrification Project (NEP), expected to be finalized by The World Bank in April 2018 and implemented by REA. - The World Bank's contribution for NEP is expected to be $350 million, with $150 million allocated to minigrids. Minigrids developed under NEP are expected to serve 200,000 households and 50,000 local enterprises. - The project is nationwide in scope, with early activities expected in Niger, Plateau, Kaduna, Sokoto and River states. The NEP will be implemented under a market-based approach-private firms are expected to develop minigrids, with subsidies from REA. It is expected that about 1,200 mini grids will be developed under the project. RURAL ELECTRIFICATION AGENCY 4#5ENABLING ENVIRONMENT Government, donor partners, and the private sector are actively working together in Nigeria to create enabling conditions for successful minigrid development - - - - Nigeria is providing an enabling environment for off-grid market growth, including: Developer protection through the NERC Minigrid Regulations. An innovative and best practice site-selection process to de-risk projects has already identified over 200 promising sites. The selection process has also screened for baseload demand (e.g., schools), population/energy density and productive use. Partnering with World Bank to line up finance, streamline competitive tendering, and to provide technical assistance. The government and development partners are inviting the private sector to work with them to capture this opportunity, while saving Nigerians money and powering economic development to further expand the market. With an enabling environment, continued cost reductions, and targeted finance, the Nigerian minigrid market can scale rapidly to over 10,000 sites by 2023, powering 14% of the population with capacity up to 3,000 MW and creating an investment potential of nearly $20 billion (N7 trillion) and annual revenue opportunity exceeding $3 billion (#1 trillion). RURAL ELECTRIFICATION AGENCY 5#6NIGERIA IS PRIORITIZING OFF-GRID SOLUTIONS AS PART OF THE COUNTRY'S OVERALL POWER SECTOR RECOVERY PLAN INTRODUCTION The Nigerian Rural Electrification Agency (REA) has developed the Off-Grid Electrification Strategy― its primary objective is to increase electricity access to rural and underserved clusters. Part of this strategy is to fast track development initiatives toward achieving the overall objective of the FGN Economic and Recovery Growth Plan and the Power Sector Recovery Programme. POWER SECTOR RECOVERY PROGRAMME The Power Sector Recovery Programme (PSRP) is a series of policy actions, operational, governance and financial interventions to be implemented by the FGN over the next five years to restore the financial viability of Nigeria's power sector, improve transparency and service delivery, resolve consumer complaints, reduce losses and energy theft, and RESET the Nigerian electricity supply industry for future growth. The FGN developed the PSRP in collaboration with the World Bank Group. Holistically, the objectives of the PSRP are to: i) Restore the sector's financial viability; ii) Improve power supply reliability to meet growing demand; iii) Strengthen the sector's institutional framework and increase transparency; iv) Implement clear policies that promote and encourage investor confidence in the sector; and v) Establish a contract-based electricity market. RURAL ELECTRIFICATION AGENCY#7THERE IS A $9.2B/YR (#3.2T/YR) MARKET OPPORTUNITY TODAY FOR MINIGRIDS AND SOLAR HOME SYSTEMS THAT WILL SAVE NIGERIANS $4.4B/YR (#1.5T/YR) • • $9.2 billion (#3.2 trillion) annual market opportunity to supply off-grid and underserved customers with minigrids and solar home systems* • With 8% economic growth through 2030 there is an additional $670 billion (#235 trillion) value proposition • This estimate is based on current expenditures, but customers may pay more for superior service • This shift would save Nigerians customers $4.4B/yr over current energy costs Today's off-grid and under-grid annual market size in Nigeria, by off-grid technology* Current Revenue $6.5B Battery-Powered Torches & Other Substitutes $13.8B Small-Scale Self Generation Source: RMI analysis Revenue With Off-Grid Alternatives Minigrids $8.0B Payments to $9.2B Service Providers $1.2B $2.4B Solar Home Systems $2.1B Savings $4.4B Unchanged $6.7B Unchanged $6.7B * Assumes 50% adoption of solar home systems by torches and other substitutes, and 75% RURAL ELECTRIFICATION AGENCY adoption of minigrids by small-scale self generation; conservatively does not assume growth in electricity use 7#8TO DO THIS, REA WILL SUPPORT MULTIPLE MARKET SEGMENTS REA Programmes Solar Home Systems Minigrids Energizing Education Energizing Economies Who will Remote customers with low load or low ability to pay be served? Small Shops Central Plant Distribution Lines Diosel Generator 1/ Communities with load less than 1 MW 37 universities, 7 teaching hospitals, and the surrounding communities Economic clusters: areas with high commercial activity and high growth impact on the economy Crosscutting energy database - online visualization of resources for energy development RURAL ELECTRIFICATION AGENCY 8#9Solar Home Systems THE $2B/YR (#700B/YR) SOLAR HOME SYSTEM MARKET IS A COMPELLING VALUE PROPOSITION FOR HOUSEHOLDS Context ■ 30 households ■10 km away from nearest electrified town ■Low income, low energy consumption An example village Proposed Solution: solar home systems SE4ALL Tier 1 systems can provide service at $4.50/mth (#1,600/mth) per household with an initial payment of $11 (#3,900) Tier 2 systems targeted at SMEs can provide service at $13/mth (#4,600/mth) per business with an initial payment of $70 (#25k) Customer Savings and Benefits ■ Customers save 50% or $4.50/mth per household compared with equivalent kerosene, battery- powered torch, and cellphone charging ■ Even basic service can greatly expand hours of operation and productivity for SMEs RURAL ELECTRIFICATION AGENCY Assumptions: 225W/HH average Source: RMI interviews and analysis The same service provided by kerosene, gen- set kiosk cellphone charging, and battery- powered torches Cost to provide Tier 1 electricity services Cost per household (USD/month) 恕 $14 $12 $10 $8 $6 $4 With Lighting Global- certified solar home systems 9#10Minigrids THE NIGERIAN MINIGRID MARKET IS UNDERPINNED BY THE MOST APPEALING MINIGRID SITES IN AFRICA Small Off-Grid Medium Off-Grid Obot Ekpene, Onyen-Okpon, urban Medium Underserved Peri- Large Underserved Peri-urban Okun-Owa, Ogun Cross River Cross River Mokoloki, Ogun Peak Load 16 kW Current Cost, $0.75/kWh 200 kW $0.52/kWh 85 kW 1.8 MW $0.39/kWh $0.25 (industrial) Diesel Generation* Estimated Tariff Today $0.51/kWh $0.40/kWh $0.42/kWh $0.33/kWh (15% IRR)** Customer Savings $0.24/kWh $0.12/kWh $0.03/kWh $0.08/kWh IRR if Tariff Matches 26% 22% 13% 6% Current Cost Capital Cost $130,000 $1.1 M $600,000 $9.7 M Consumption per Day 200 kWh 2,500 kWh 1,300 kWh 27,000 kWh RURAL ELECTRIFICATION AGENCY These types of sites are fully commercially viable now with a 15% project IRR Source: RMI analysis These sites are very good relative to most minigrid sites (typically $0.60+/kWh or (#210+/kWh) and provide superior service relative to self-generation *Fuel price typically varies by region (200% -250% /L). Case studies reflect local field visit pricing Assumes 100% debt financed at 10% APR ** 10#11Minigrids FOR EXAMPLE, POOR QUALITY ELECTRICITY COSTS AS MUCH AS $0.52/kWh (#180/kWh) IN ONYEN-OKPON DESPITE LARGE PRODUCTIVE LOADS Context ■ 500 households, 7 km from electricity. ■100 kW existing self generation is not reliable, affordable power solutions are available Consumer type 300 households (3/5 of total) Commercial/productive-use Ability and Willingness to Pay Load 60 kW 170 kW ■Community leaders and residents have high willingness to pay ■ Majority of residents currently pay $0.43/kWh (#150/kWh) for petrol generation or $0.52/kWh (#180/kWh) for diesel ■ Unelectrified households spend -$6/mth (#2,100/ mth) for kerosene, plus extra for rechargeable torches, candles, cell charging, etc. Diesel must be purchased in small quantities to power cocoa processing facilities, but is costly, inefficient, loud, and polluting. RURAL ELECTRIFICATION AGENCY Assumptions: 225 W/HH average, local fuel costs based on interviews at site Source: RMI interviews and analysis 11#12Minigrids A $1.1M) MINIGRID AT THIS SITE GENERATES A15% PROJECT IRR, SAVES $110,000/YEAR AND PROVIDES BETTER SERVICE Proposed Solution ■ Levelized cost of electricity is $0.40/kWh Minigrid with 470 kW solar, 668 kWh battery, and 220 kW diesel backup can meet overlapping load of residential and commercial loads 5 km low-voltage distribution system ■ Upfront capital cost of $1.1 million Project Economics kW Predictable $31,000 monthly revenue that would grow over time 250 200 150 100 Onyen-Okpon Load 50 Customer Savings and Benefits ■ Customers save up to $0.12/kWh (#42/ kWh) compared with diesel self- generation, or $0.03/kWh (#11/kWh) compared to petrol Customers save time and money usually spent on operations and maintenance Businesses significantly enhance productivity with 95%+ system uptime Commercial uses can scale up, with enhanced economic flows to the community coming from added value. through additional cocoa processing Source: RMI analysis RURAL ELECTRIFICATION AGENCY 400 200 00:00 02:00 04:00 06:00 08:00 10:00 12:00 14:00 16:00 18:00 20:00 22:00 Minigrid Dispatch-Example Weekday 0 3 Optimal System Sizing 69 12 15 18 21 24 Generic flat plate PV Power Output Autosize Genset Power Output AC Primary Load Generic 1kWh Lead Acid Discharge Power 12#13Energizing Education THE ENERGIZING EDUCATION PROGRAMME WILL PROVIDE 90+MW OF SUPPLY TO 37 UNIVERSITIES AND 7 TEACHING HOSPITALS Phase 1 of the programme (29 MW) is funded and consists of 9 universities and 1 teaching hospital Obafemi Awolowo University & Teaching Hospital to Bayero University - New Campus Abubakar Tafawa Balewa University - Maid Gubi Campus Zaria Kaduna University of Lagos Niger Parakou Abuja Ogbomosho Nasarawa Ibadan La s OVO Benin City Onitst Federal University of Petroleum RURAL ELECTRIFICATION AGENCY Biu Bauchi Gombe Jos O Usumanu Danfodiyo Gároua University Main Campus - Federal University of Agriculture Makurdi Federal University Ndufu-Alike lkwo Cameroon Nnamdi Azikiwe University - Awka Campus 13#14Energizing Economies THE ENERGIZING ECONOMIES PROGRAMME WILL TRANSFORM 4 LARGE MARKETS WITH >50,000 SHOPS PAYING >$70K/DAY Somolu Printing Community Sura Shopping Complex Sabon Gari Market Ariaria Market One of the general generators used within the Market RURAL ELECTRIFICATION AGENCY Distribution lines within the Market Status Quo Observations Higher energy cost compared to renewable and other gas-fired solutions Noise pollution from heavy duty diesel generators and small generators Potential Health, Safety, and Environment (HSE) infringement resulting from ad hoc installations HOD ☐ ☐ Old overhead distribution lines 14#15Energizing Economies ARIARIA MARKET IS ONE EXAMPLE OF THE MARKETS TARGETED FOR TRANSFORMATION Context • 37,000 shops, 16,000 of which currently use electricity Currently spend $21,000/day on electricity • Currently underserved and qualified as eligible customers Ariaria Market ARIARIA INT'L MARKET BA Paule Proposed Solution Phase 1: 5 MW of natural gas and diesel capacity ■Initial capital cost of $12M ■ 12,000 shops electrified with average load of 100- 200 W ■ Independent Distribution Network ■ Dense market area minimizes distribution costs, and smart meters allow for remote monitoring and control ■ $0.22/kWh solution is competitive with alternatives. The Private sector is responsible for funding, generation, distribution, metering and collections and the REA will manage and facilitate all interactions with the various state and federal level Ministries, Departments and Agencies RURAL ELECTRIFICATION AGENCY Source: REA Energizing Economies Baseline Survey and Energy Audit Report, 2017; RMI analysis 15#16NIGERIA HAS LAID THE GROUNDWORK TO KICKSTART MINIGRID DEVELOPMENT AND WORK ON OTHER PROGRAMMES IS UNDERWAY לון EL ☑ Enabling Policy and Regulation Pre-feasibility site-evaluation Creation of a tender process Rich landscape of development partners and active companies RURAL ELECTRIFICATION AGENCY 16#17NIGERIA'S POLICY AND REGULATORY ENVIRONMENT SUPPORTS MINIGRID MARKET GROWTH IGERIAN E ECTRICITY REGULATORY NERC Setting Tariffs Grid Exit Licensing & Permitting Integrated Energy Planning Nigerian regulation provides more guidance, preparation, and protection for minigrid development than policies in other markets NERC Regulatory Framework for Minigrids ■ Tariff flexibility currently allowed Minigrids under 1 MW allowed to set cost-reflective tariffs Minigrid interconnection with the grid included in regulatory framework ■ Technical preparation for interconnection Financial preparation for interconnection Accelerated licensing and permitting process for minigrids ■ Clear program for off-grid energy ■ Clear priority to support isolated minigrids and their role in powering commercial loads Source: Nigerian Electricity Regulatory Commission, Regulations for Mini-Grids, 2016. RURAL ELECTRIFICATION AGENCY 17#18REA IS CONDUCTING UNPRECEDENTED DETAILED MINIGRID PRE- FEASIBILITY EVALUATIONS TO REDUCE DEVELOPMENT RISK REA site selection process provides clarity, reduces risk, and accelerates process for private minigrid development First-cut prioritization with existing data has identified 200+ sites with at least 100kW demand REA teams are gathering detailed data at these sites and using that data to improve site-selection REA teams prioritized sites by: • Sufficient load/density • Detailed surveys completed: REA visited top 200 sites across • 5 priority states (Nov. 2017) Productive-use, daytime, and flexible loads Supportive local and state government Community engagement • Solar resource and availability of gas Accessibility REA surveys will provide developers with a better idea of site viability REA survey data includes: • Number of households, shops, productive loads, and other institutions Appliances, productive loads, time of use Estimated load profile • • · Existing self generation (size and number of units) Fuel price and availability • Cellular service • (providers and reliability) Current income and willingness to pay • GIS data for villages and potential customers 10,000 Potential sites identified 500 Sites visited on the ground 100+ Sites prioritized for initial development RURAL ELECTRIFICATION AGENCY 18#19REA SURVEYS OF 200 SITES IN 5 STATES PROVIDE QUANTITATIVE EVIDENCE FOR MINIGRID OPPORTUNITY - SAMPLE SITE: GIERE, SOKOTO Total Households: 376 60.0 Household Penetration rate: 75% Count Avg. kWh/day Household distribution 50.0 Small HH Hut 225 0.3 Med HH - Bungalow 113 1.9 - High HH Modern House 38 4.8 Public 40.0 Health Center - Small 1 10 Health Center - Med 60 Health Center - Large 0 150 30.0 School small 3 School large 0 10 Community center 0 Religious buildings 2 20.0 Commercial Beauty salon Tailor Petty trader Barbing saloon Productive 1 1 31 3 1 3333 Welder Restaurant 1 Farmer (grinding) 3 Farmer (milling) 1 2697 12 10.0 Peak Load: 53 kW WELDER BEAUTY SALON TAILOR PETTY TRADER BARBING SALOON RESTAURANT LOW HH MED HH HIGH HH FARMER (GRAIN PROCESSOR, GRINDING) FARMER (GRAIN PROCESSOR, MILLING) HEALTH CENTER - SMALL HEALTH CENTER - MED HEALTH CENTER - LARGE SCHOOL SMALL 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 COMMUNITY CENTER RELIGIOUS BUILDINGS ⚫TOTAL SCHOOL LARGE 19#20Capital (USD $) 57,575 REA SURVEYS OF 200 SITES IN 5 STATES PROVIDE QUANTITATIVE EVIDENCE FOR MINIGRID OPPORTUNITY-SAMPLE SITE: GIERE, SOKOTO Capital cost: Solar PV + installation Battery + installation No diesel constraint Size 82.25 kW Diesel limited to 20% Size 225 kW Diesel limited to 50% Size Capital (USD $) Capital (USD $) 145 kW 101,500 157,500 832 kWh 180,900 1420 kWh 308,700 Diesel Generator 60 kW 21,877 60 kW 21,877 5 kW 5,760 Inverter 62 kW 13,132 62 kW 13,132 60 kW 12,558 MPPT Charge controller 15,338 23,800 Network + distribution 6.15 km 77,415 6.15 km 77,415 6.15 km 77,415 Network Design: Name Length (km) Capital (USD $) Weasel 5.19 62,290 Ferret 0.30 3,854 Rabbit 0.40 5,655 Dog 0.17 3,465 Dingo 0.06 1,371 Panther 0.03 780 Generation System: USD 170,000 (min) Distribution System: USD 77, 415 Estimate Capex: $247,415 RURAL ELECTRIFICATION AGENCY Source: REA surveys and RMI analysis Network Layout 20 20#21REA'S INTERACTIVE ENERGY DATABASE PROVIDES DEVELOPERS WITH A TOOL AND DATA FOR SITE ASSESSMENTS REA's unique tool allows developers and investors to quickly identify promising sites for development Select layers to display various data sets Abuja Filter Disco Coverage Clear Filters ON GRID INFRASTRUCTURE Q Niamey a Tahoua Maradi Features On Grid Infrastructure • Transmission N'Djamena Maiduguri • Power Plants Maroua . Distribution Infrastructure TRANSMISSION POWER PLANTS GAS LINES DISCO INFRASTRUCTURE ELECTRIFIED COMMUNITIES 10Km Buffer 20Km Buffer OFF GRID INFRASTRUCTURE Parakou Cotono Lagos Gulf of Guinea Bamenda Malabo Yaounde The availability of digital geospatial data on transmission infrastructure allows easy identification of on- and off-grid communities The tool will continue to be refined, and will incorporate load data from REA surveys • REA will expand the tool for other applications (e.g., Energizing Economies, Solar Home Systems) RURAL ELECTRIFICATION AGENCY Sources: REA Off Grid Electrification Strategy, 2017 REA website Electrified Communities Off Grid Infrastructure Potential Mini Grid Communities • 10 km or 20 km from the grid Potential SHS Communities • 10 km or 20 km from the grid Community Details . Population, Load Profiles Resources • Mines • Solar Irradiance • Roads Amenities • Schools • Water Points 21#22REA IS WORKING WITH THE WORLD BANK TO SETUP A MINIGRID TENDER PROCESS THAT WILL STREAMLINE DEVELOPMENT Standardized requirements to drive scale and reduce equipment cost REA and World Bank work to de-risk projects upfront before bidding Donor partners provide guidance to companies and technical assistance to government to support success Phase 1 Site selection identified through REA surveys Phase 2 Tender for 1st round projects Phase 3 1st round projects awarded and constructed Tender process design 2nd round process and projects Tender for 2nd round projects Mini-grid proposals by active private developers and/or performance-based grants for minigrid sub-projects REA and World Bank coordinate access to finance, capital expenditure support, and credit enhancement to developers and investors As developers and REA bring minigrid market to scale, minigrids follow cost- reduction roadmap to further accelerate growth RURAL ELECTRIFICATION AGENCY 22 22#23REA IS COORDINATING DEVELOPMENT PARTNERS TO SUPPORT, FUND, AND ACCELERATE THE OFF-GRID MARKET IN NIGERIA Example development partners in energy space Lighting Nigeria Finance, supply chain, markets Solar Market Development and Finance program Finance Nigerian Energy Support Programme (NESP) Regulatory reform, TA, finance, technical training Climate Innovation Center Market acceleration, Energy Platform Technical training, information Solar Nigeria (ASI) TA, finance, government support Power for All Advocacy DFID GIZ finance World Bank Group Ecobank Credit Guarantee Finance USTDA RURAL ELECTRIFICATION AGENCY USAID: Power Africa Transactions and Reform Program Other DPs (PATRP) Markets, TA, mobile money Scaling Off-Grid Energy (SOGE) Grants, enabling environment, investment Renewable Energy and Energy Efficiency Program (REEEP) TA, finance, government support Source: RMI donor partner interviews Rockefeller Foundation: RMI, Cross Boundary UNDP: Bank of Industry Access to RE project Finance SHELL Corporate: All On EU: Renewable Energy Cooperation Program (RECP) Policy advice, finance, private sector cooperation Heinrich Boll Foundation Markets, information CBN: SME Facility Finance Multilateral Investment Guarantee Agency (MIGA) Finance AFD: Sunref Finance 23#24NEXT STEPS International & Domestic Developers Develop standard, replicable minigrid systems and business models Pursue high-potential sites for initial development to refine economics, load growth approaches, and customer acquisition strategies Develop projects together with REA, then own and operate Create robust supply chains Iterate rapidly for second generation models to get to scale by 2020 Build relationships between Nigerian and international companies Investors Next stage market development leveraging REA pre-feasibility work Pathways to concessional financing Pursue pathways to address FOREX challenges Support collaboration by convening developer working groups (e.g., to unlock hardware cost reductions) Power Companies & Financial Service Providers Explore synergies with minigrid companies to further expand market - Engage with minigrid developers early Donor partners can support and accelerate the nascent off-grid market - Immediate and flexible funding for enabling REA activities like data collection and community engagement Concessional financing including FOREX hedging Grant funding for pilot projects Technical assistance and capacity building for regulators and government 24 24#25COLLABORATIONS REA RURAL ELECTRIFICATION AGENCY THE WORLD BANK ENERGY EMPOWERMENT EFFICIENCY ROCKY UNTAIN INSTITUTE This independent assessment of the Nigeria minigrid market is a result of a partnership between Rural Electrification Agency (REA), The World Bank (Energy Team), and Rocky Mountain. Institute (RMI) RURAL ELECTRIFICATION AGENCY 25#26REA RURAL ELECTRIFICATION AGENCY ENERGY EMPOWERMENT EFFICIENCY THANK YOU FOR LISTENING For further information please contact: Damilola Ogunbiyi Lolade Abiola Managing Director & CEO Head of Renewables RURAL ELECTRIFICATION AGENCY | RURAL ELECTRIFICATION AGENCY [email protected] | [email protected] www.rea.gov.ng