In West Africa, Nigerian-based power generation company and subsidiary of the Obijackson Group, Century Power, has declared that it seeks to augment the country’s electricity generating capacity by 500MW.
The Group’s CEO and MD, Ernest Azudialu-Obiejesi, said this while speaking at the Powering Africa panel, during the third annual London School of Economics Africa Summit, reports Vanguard.
Difficulties faced by Century Power and others
However, Azudialu-Obiejesi also highlighted some of the difficulties, which makes it difficult to implement energy development projects in Nigeria.
Among the challenges he mentioned political risk, the difficulties posed by legal requirements for disposition of land posed by the Land Use Act, inefficiencies in government agencies and the high threat to and cost of doing business.
On that note, Azudialu-Obiejesi further appealed to the stakeholders to develop strategies that would ensure funding in a hospitable environment and for private and government to take the responsibility of efficiently powering Africa.
Azudialu-Obiejesi also argued the claims that Africa is not ready to go green although there is a need for the move.
According to the media, he said amidst such idealistic and over simplified calls for greener energy on the African continent, stakeholders need to be reminded of the link between access to electricity and development on the continent that made it a top and urgent priority.
He pointed out that while West Africa had used carbon-based energy to develop its infrastructure, the whole continent has to also go through the trail and learn from the challenges they had faced.
“Unfortunately, the abundance of already available resources make carbon-based energy resources the short-term project, while the financial and technical constraints to developing renewable energy sources make it a long-term mission,” he stated.