{"id":62556,"date":"2025-03-11T09:54:35","date_gmt":"2025-03-11T09:54:35","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=62556"},"modified":"2025-03-11T09:54:35","modified_gmt":"2025-03-11T09:54:35","slug":"rea-secures-950m-to-boost-renewable-energy-access","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/03\/11\/rea-secures-950m-to-boost-renewable-energy-access\/","title":{"rendered":"REA Secures $950M to Boost Renewable Energy Access"},"content":{"rendered":"<p><strong>By Adenike Lawal<\/strong><\/p>\n<p>The Rural Electrification Agency (REA) has secured a $950 million funding boost to expand renewable energy access across Nigeria, targeting the 86 million citizens still without electricity.<\/p>\n<p>Managing Director Abba Abubakar Aliyu made the announcement during a signing ceremony in Abuja, where REA formalized agreements with nine renewable energy service companies to drive the Distributed Access through Renewable Energy Scale-up (DARES) initiative.<\/p>\n<p>The funding includes $750 million from the World Bank and $200 million from the Japan International Cooperation Agency (JICA).<\/p>\n<p>The initiative will roll out 14 interconnected mini-grids and standalone solar systems, benefiting an estimated 17.5 million Nigerians.<\/p>\n<p>Aliyu emphasized Nigeria\u2019s ambition to become West Africa\u2019s renewable energy hub, with the government allocating N100 billion to solarize public institutions.<\/p>\n<p>Talks are ongoing for an additional $200 million in co-financing from JICA.<\/p>\n<p>Speaking at the event, Oando Clean Energy CEO Ademola Ogunbanjo announced plans to deploy 600MW of renewable capacity and establish facilities for solar panel production and recycling, underscoring the private sector\u2019s pivotal role in Nigeria\u2019s clean energy transition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Adenike Lawal The Rural Electrification Agency (REA) has secured a $950 million funding boost to expand renewable energy access across Nigeria, targeting the 86 million citizens still without electricity. Managing Director Abba Abubakar Aliyu made the announcement during a signing ceremony in Abuja, where REA formalized agreements with nine renewable energy service companies to [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":62557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-62556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/62556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=62556"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/62556\/revisions"}],"predecessor-version":[{"id":62558,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/62556\/revisions\/62558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/62557"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=62556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=62556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=62556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}