The African Development Bank (AfDB) has resolved to support Nigeria’s power sector with a $1 billion Policy-Based Operation (PBO) fund to boost electricity.
The bank is also financing a study for the Transmission Company of Nigeria (TCN) to explore the deployment of battery energy storage systems to enhance grid stability and facilitate greater uptake of renewable energy generation.
The AfDB Vice-President, Power, Energy, Climate Change and Green Growth Complex, Kelvin Kariuki, disclosed this during the Eight Africa Energy MarketPlace (AEMP) Forum held in Abuja, recently.
