ALASTAIR SMITH

Co-founder & Director of New Markets PowerGen Renewable Energy

In 2022, we progressed on our journey to provide clean, reliable, and affordable power to over 1 billion people across Africa.

Key Highlights

As a sector, we need “full stack” solutions across the value chain – power generation, transmission & distribution, smart metering, and tech-enabled operations

Nigeria’s renewable energy industry will continue to grow, especially once the petrol subsidy has fully been removed, which is scheduled later in 2023

By the end of 2023, our goal is to provide power to over 100,000 Nigerians and over 250,000 people across the African continent

Tell us about the services PowerGen provides

PowerGen Renewable Energy is a leading private power company operating across Africa

We build and manage power infrastructure to deliver clean, reliable, and affordable electricity to customers We do this for single-off-takers, rural communities, and peri-urban & urban areas

How has PowerGen's business performed in 2022?

In 2022, we made progress on our journey to provide clean, reliable, and affordable power to over 1 billion people across Africa. We grew our impact on our customers, their families, and their communities Here are some stats that illustrate how PowerGen customers value the electricity we provide:

97% were very satisfied or satisfied with their PowerGen energy services

95% have had a positive life change through improved income, increased hours for children’s education, or improved health

This is the scale we achieved in 2022:

More than 125,000 people served across Africa

Over 2 GWh (gigawatt hours) of electricity consumed

Over 2,240,00 kilograms of CO2 emissions avoided

Customer satisfaction score (NPS) that ranks in the 99th percentile amongst power utilities

Aggregate grid distribution network that spans the distance from Nairobi to Malawi

The impact that we are making today on hundreds of thousands of people represents progress - progress toward tackling climate and driving economic growth. We are excited at what we have been able to achieve, yet we remain eager to do much more. These empowering results should be the reality across the entire continent To achieve our vision of clean, reliable, and affordable power across Africa, there remains a lot of work to do

How has technology contributed to PowerGen's growth in 2022?

As a sector, we need “full stack” solutions across the value chain – power generation, transmission & distribution, smart metering, and tech-enabled operations. Importantly new tech is driving operating efficiency – smart metering, prepaid mobile payments, remote monitoring and controls, and data-driven analytics For the new generation of power utilities, the new tech is now standard

What is your view on Nigeria's current solar market? How do you see it evolving in 2023?

The Nigerian solar market continues to grow and improve. The Rural Electrification Agency of Nigeria, led by Ahmad Salihijo, continues to provide an enabling environment for solar developers and continues to help accelerate the sector This is in conjunction with the support of the Nigerian Electricity Regulatory Commission There continues to be ongoing challenges relating to exchange rates and currency devaluation, but we remain optimistic about the potential of the solar market in 2023

In 2023, the federal government of Nigeria is set to discontinue petrol subsidy payments by the end of June Nigeria’s renewable energy industry theoretically will experience massive growth once the subsidy has fully been removed We saw a large uptick in demand in 2022 when fuel prices climbed early in the year and we expect an even larger increase in 2023

What is your company's aim for 2023?

By the end of 2023, our goal is to provide power to over 100,000 Nigerians and over 250,000 people across the African continent We look to continue our focus on the Customer Experience as well as our commitment to Health and Safety

Our primary aim is to continue our deployment of distributed renewable energy systems to both support climate change initiatives and the electrification of Africa