August 22 (Solar) – African electricity supplier Daystar Power has agreed to equip the branches of the Nigerian Bank of Agriculture with photovoltaic (PV) facilities and offer solar power solutions for rural areas in the country.
Under a comprehensive cooperation agreement announced on Tuesday, Daystar Power will install solar power plants at the bank’s 158 sites. Apart from delivering power to the state-owned bank’s offices, Daystar will also provide a concept for the supply of electricity to rural areas in Nigeria.
"In Nigeria there is a large gap between electricity production and demand. The rural population in particular suffers from a lack of reliable electricity supply, which has a negative impact on agricultural productivity," siad Christian Wessels, Managing Director of African venture builder Sunray Ventures, of which Daystar is a founding partner.
The government of Nigeria has set a goal for the country to have 30 GW of on-grid power generation capacity by 2030. About 30% of that capacity has to be from renewables.