renewable energy – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Wed, 06 May 2026 15:41:45 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png renewable energy – Tech | Business | Economy https://techeconomy.ng 32 32 AI Power Surge Forces Microsoft to Reconsider 2030 Clean Energy Goal https://techeconomy.ng/microsoft-renewable-energy-2030-ai-data-centres/ https://techeconomy.ng/microsoft-renewable-energy-2030-ai-data-centres/#respond Wed, 06 May 2026 15:41:45 +0000 https://techeconomy.ng/?p=181119 Microsoft is reviewing its plan to run fully on round-the-clock renewable energy by 2030, due to high power demand from artificial intelligence systems, which puts limits on the target.

Microsoft has been working towards matching all of its hourly electricity use with renewable energy purchases within the next five years.

That goal, set in 2020, stood out at the time because it went beyond annual offsets and focused on real-time energy use. Now, people familiar with internal discussions say the company is weighing whether to delay or drop it.

The discussion comes as Microsoft spends heavily on infrastructure to support artificial intelligence. Like Amazon and Alphabet, it is building large data centres to run services such as Copilot and its Azure cloud platform.

These facilities require vast amounts of electricity, and demand is rising faster than earlier projections suggested.

Some of the newer sites under development are expected to draw several gigawatts of power. To put that in context, one gigawatt can supply roughly 750,000 homes in the United States. Meeting that level of demand with renewable sources alone is proving difficult, especially within tight timelines.

Energy supply is now a practical concern. Renewable projects take years to plan and build. By contrast, natural gas plants and nuclear facilities can be brought online more quickly, and companies are turning to them to avoid delays.

Microsoft has already taken steps in that direction. In 2024, it reached an agreement with Constellation Energy to help restart a unit at the Three Mile Island nuclear plant in Pennsylvania. The deal shows how the company is balancing its climate targets with immediate energy needs.

The pressure is not limited to Microsoft. Across the sector, emissions have continued to rise despite public commitments to cut them. That gap is drawing attention from regulators and investors, who are watching closely as companies expand their AI operations.

For now, Microsoft has not commented publicly on the reported review. What is clear is that the scale of AI is changing earlier assumptions. The company set one of the most ambitious clean energy goals in the industry. Whether it can still meet it on time is now uncertain.

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From $40 to $5: How Carbon Finance is Subsidising Africa’s Clean Cooking Revolution https://techeconomy.ng/carbon-finance-clean-cookstoves-africa/ https://techeconomy.ng/carbon-finance-clean-cookstoves-africa/#respond Mon, 27 Apr 2026 11:05:10 +0000 https://techeconomy.ng/?p=180520 Across Africa, millions of households still cook with charcoal, wood, or agricultural waste, and the International Energy Agency says this reliance on traditional fuels has had serious consequences.

Beyond carbon emissions, severe indoor air pollution, which the World Health Organisation links to hundreds of thousands of deaths annually, has become the order of the day.

Women and children bear the brunt, spending hours near smoke-filled kitchens while collecting firewood.

Interestingly, modern cookstoves were built as a solution to this appalling situation. They burn fuel more efficiently or replace it entirely, reducing emissions, saving time, and lowering health risks. 

But there’s still a huge challenge, which is price. For households living on just a few dollars a day, even a stove costing $30 can be unaffordable.

This brings us to carbon finance, where assigning financial value to the greenhouse gas reductions achieved by clean cooking technologies enables carbon markets to create a revenue stream that can subsidise the cost of stoves. 

For some households, this turns a $40 appliance into something closer to $5. The mechanics are solid, emissions reductions are verified, converted into carbon credits, and sold to buyers globally, usually corporations seeking to offset their own carbon footprint. The income flows back into the project, reducing retail prices and scaling adoption.

Carbon Markets are a Fast-Growing Financial Sector 

Carbon markets have expanded over the last decade and currently, 113 national and subnational carbon pricing mechanisms cover approximately 28% of global greenhouse gas emissions, raising over $100 billion annually. Voluntary markets add billions more.

Africa, however, still lags behind, currently accounting for less than 2% of global carbon credits, despite enormous potential in forestry, renewable energy, and land-use projects. 

To close that gap, initiatives like the African Carbon Markets Initiative, launched at COP27, aim to generate 300 million carbon credits annually by 2030 and 1.5 billion credits by 2050, bringing $120 billion in economic value and supporting 110 million jobs.

In Nigeria, the carbon finance sector is coming up. In January 2026, the country formally launched its Carbon Market Framework at Abu Dhabi Sustainability Week, projecting $30 billion in annual climate-related investments. 

The National Council on Climate Change will implement trading regulations, ESG disclosure reforms, and blended-finance structures, pointing to a more powerful ecosystem for carbon finance and green industrialisation.

Why Cooking is Indispensable to Climate Action

Clean cooking is rarely a topic of discussion, but it sits at the intersection of climate, health, and development.

Traditional biomass cooking is both a deforestation driver and a public health hazard. Households consume large amounts of wood and charcoal, increasing carbon emissions. 

Smoke-filled kitchens exacerbate respiratory diseases, cardiovascular issues, and child mortality. Again, families spend a substantial portion of their limited income on fuel, while women and girls spend hours collecting firewood.

Modern stoves reduce fuel consumption by 50–70%, drastically cut emissions, and save households time and money. For climate-conscious investors and governments, this creates a huge opportunity, supporting clean cooking, which addresses emissions and also improves livelihoods.

The Price of the Counter: How Carbon Finance Lowers Stove Costs

Manufacturing a modern cookstove involves expenses, including materials, design, safety features, and logistics. To households with minimal daily income, these costs are prohibitive, but carbon markets bridge the gap.

When a stove reduces emissions, project developers can certify those reductions as carbon credits. These credits are sold on international markets to buyers, companies or governments needing offsets. Revenue from these sales is then used to subsidise stove prices, sometimes reducing them by as much as 60–90%.

This model explains why a stove costing $40 at the factory might sell for $5 to a household in Kenya, Nigeria, or Malawi. It’s not charity, it’s finance applied to climate action, converting environmental impact into affordability.

BURN Manufacturing: Scaling Clean Cooking Across Africa

Carbon Finance clean cookstoves

Among the companies leveraging this approach, BURN Manufacturing has a niche around inclusion, standing out in the space. 

Founded in 2011 and headquartered in Nairobi, BURN has become one of Africa’s largest manufacturers of clean cookstoves and a developer of carbon projects. The company has sold over five million stoves, reaching more than 27 million people across the continent.

BURN’s appliances include biomass stoves, LPG cookers, and electric induction stoves. The company goes beyond manufacturing to generate certified carbon credits from its projects. 

These credits lower the costs of the stove for households while ensuring emissions reductions are verifiable and reportable.

BURN’s model ascertains how climate finance can scale impact without depending solely on donor funding. In combining commercial operations with carbon credit revenue, the company ensures that clean cooking technologies reach communities that need them most. 

In total, BURN’s projects have avoided tens of millions of tonnes of carbon emissions and saved millions of tonnes of wood.

Beyond Affordability: Economic and Environmental Impacts

The function of carbon finance in clean cooking is far beyond lowering stove prices. In providing reliable revenue streams, it enables companies to:

  • Expand production capacity and build industrial-scale manufacturing facilities.
  • Invest in research and development for next-generation stoves.
  • Create jobs across manufacturing, distribution, and project monitoring.

BURN, for instance, produces stoves at a scale that can reach thousands of households daily. Digital monitoring and mobile payment technologies now track stove use and verify emissions reductions, ensuring the integrity of carbon credits and maintaining buyer trust.

At the household level, modern stoves reduce time spent collecting fuel, lower monthly expenditures on charcoal or wood, and improve indoor air quality. 

Communities experience less deforestation, while women and children benefit most directly from safer kitchens and reduced workload.

Challenges in Carbon Markets

Despite the benefits, we can’t ignore the challenges in carbon markets. Verification accuracy, especially in voluntary markets, is one issue highly talked about. Some projects have been accused of overstating emissions reductions, creating “phantom credits.”

In response, standards are getting tougher. High-integrity credits now require robust monitoring, reporting, and verification systems, including real-time sensors and independent audits. 

Companies that adapt to these standards, like BURN, gain credibility in the global market while ensuring tangible local impact.

Africa’s Growing Carbon Market

Africa’s role in global carbon finance is already expanding. Beyond clean cooking, carbon markets support renewable energy, forestry, and land-use projects.

Nigeria’s Carbon Market Framework and regional initiatives like ACMI are creating infrastructure for transparent, scalable carbon trading. Investors are starting to see Africa as a viable source of carbon credits, capable of attracting billions in climate finance.

If implemented effectively, these frameworks can transform clean cooking into a commercially sustainable industry, rather than a donor-dependent initiative. Companies that align with these policies will help in connecting climate finance to households.

The Human Impact

All the policy documents, frameworks, and market statistics are important, but the ultimate impact is human. 

Cleaner stoves mean fewer hours collecting firewood, less smoke in kitchens, and improved household health. Children breathe cleaner air, women spend more time on income-generating activities, and families spend less on fuel.

In some communities, switching to modern stoves reduces wood consumption by tons per year, helping protect local forests. In aggregate, these changes add up to essential climate and development results.

The Sustainability of Clean Cooking

The clean cooking sector is highly dynamic, with innovations like electric induction stoves, powered by renewable energy, that could eventually eliminate cooking emissions in regions with reliable electricity. 

Carbon markets will likely remain a key enabler, providing financial incentives to scale adoption.

Across Africa, governments, companies, and international buyers need to work together to maintain transparency, ensure accountability, and channel capital efficiently. 

The sustainability of this sector depends on strong regulation, accurate measurement, and reliable reporting systems.

BURN’s success has shown that this is possible. Having integrated manufacturing, distribution, and carbon finance, the company offers a model for how clean cooking can be scaled effectively.

So why do some stoves cost less?

It can’t be called luck or charity, because it is climate finance in action. Carbon markets convert emissions reductions into revenue that subsidises clean technology. 

We see the impact with companies like BURN Manufacturing, millions of stoves distributed, emissions avoided, and households benefiting.

However, clean cooking is a test case for whether climate finance can improve everyday life while addressing a global challenge. In millions of African homes, that difference is tangible, cleaner kitchens, safer children, and a small but significant step toward a sustainable environment.

Sometimes, the most impactful climate solution is not a massive solar farm or a battery factory, but a better stove, and a market willing to pay for the difference.

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Why Green Tech Could Become the Next Profit Engine for African SMEs https://techeconomy.ng/green-tech-profit-engine-african-smes/ https://techeconomy.ng/green-tech-profit-engine-african-smes/#respond Mon, 05 Jan 2026 11:00:13 +0000 https://techeconomy.ng/?p=173684 In 2024 and 2025, small and medium‑sized enterprises (SMEs) accounted for more than 50% of Africa’s GDP and roughly 70–80% of employment across the continent. 

Though important to the economy, most still lack adequate financing, and many operate on thin margins with limited power access. 

These same businesses are now facing two major changes at the same time, the need to operate sustainably and the spread of green technology.

Green technology, clean energy, efficient processes, waste innovation and climate‑smart leverage, are changing markets worldwide. My argument is for African SMEs, sustainability need not be a cost centre or an aspirational label. 

With the right mix of policy, finance and adoption, green tech can be a profit engine, making SMEs stronger, more resilient and more competitive.

Top Policies to Watch: 2026 as Year of Institutional Discipline

SMEs: The Backbone of Africa’s Economy

Across the continent, SMEs make up the majority of businesses, informal and formal, and are vital to jobs and growth. They generate over half of Africa’s economic output. In low‑income economies, their share is usually over 50%. 

Meanwhile, less than a fifth of them have access to formal credit, leaving a massive investment gap. 

They are agile. They innovate. But they also feel immediate pressures such as high energy costs, unreliable electricity, and limited access to modern tools. That’s where green tech steps in.

What Green Tech Means for SMEs

Green tech is usually described at a national or multinational scale, but for SMEs, it’s far more concrete:

  • Clean Energy: Solar panels and mini‑grids are now more affordable than ever. They replace expensive diesel generators and provide more reliable power.
  • Climate‑Smart Agriculture: Irrigation tech, soil health systems and drought‑resistant methods help farms produce more with less risk.
  • Circular Economy Innovation: Recycling and waste‑to‑value models turn disposal costs into revenue streams.
  • Efficiency Tools: Software and sensors help track and reduce energy, water and fuel use.

These technologies directly relieve cost pressures that have long throttled small businesses.

Turning Sustainability into Profit

The common misconception is that sustainability means higher costs. That’s really not the case:

1. Lower Operating Costs

Energy is a top expense for many SMEs. Solar power and energy‑efficient equipment cut utility bills and stabilise cash flow. Diesel generators are expensive and unreliable; solar kits paired with batteries provide a predictable cost base and reduce downtime. 

Recently, many African nations doubled imports of solar panels, showing expanded adoption of off‑grid clean energy solutions. 

2. New Revenue Streams

Green tech opens revenue paths that didn’t exist before:

  • Excess energy sales: Micro solar and wind installations can feed local grids in some markets.
  • Green services and products: Eco‑certified goods attract premium buyers domestically and internationally.
  • Carbon and sustainability financing: As investors move to climate‑aligned assets, businesses with measurable sustainability credentials gain access to new capital pools.

In Nigeria, for example, SME sector frameworks now channel climate finance toward climate‑smart business practices, providing tax incentives and credit support for firms adopting environmental, social and governance (ESG) criteria.

3. Competitive Advantage

Consumers are paying attention. In urban markets especially, buyers value brands that reduce waste or support local sustainability. This trend influences buying decisions, pricing power and marketing stories.

Limitations and Solutions

Of course, the transition isn’t automatic. SMEs face some limitations:

  • Financing gaps: The IFC estimates a funding shortfall in sub‑Saharan Africa exceeding $300 billion for SMEs. 
  • Infrastructure deficits: Reliable transmission, storage and connectivity are still uneven, meaning some green tech can’t reach scale without support.
  • Skills and capacity: Even affordable tech requires basic training and maintenance skills.

But solutions are emerging. Blended finance, where development finance, private capital and risk guarantees come together, is gaining ground. 

African financial institutions have pledged more than $100 billion for green growth initiatives, aiming to support renewable adoption and sustainable trade. 

There are also targeted funds focused on SMEs. For example, a $150 million solar green bond was launched to support rooftop installations and other productive uses for small businesses.

Policy and Finance: A Macro View

A supportive policy environment is important. Governments that extend tax incentives, import duty breaks on clean tech and clear sustainability standards make it easier for SMEs to adopt innovations. 

National climate strategies that link SME development with energy transition targets align private and public objectives.

At the same time, climate finance flows into Africa are increasing but still far below needs. Recent data show funding grew nearly 50% in a short period, yet meets only about a quarter of the amounts required to fulfil climate commitments by 2030.

Sound policy can bridge that gap, combining international funds with domestic private sector mobilisation.

Across the continent, green tech is already changing business trajectories:

  • In rural villages of Mali and beyond, solar mini‑grids are enhancing local commerce, reducing daily energy costs and enabling businesses like welding shops and bakeries to thrive.
  • In South Africa, programmes that open the energy market to private producers are expanding renewable capacity and encouraging SMEs to invest in their own energy solutions. 

These are templates, scalable, replicable and profitable.

With Africa’s population projected to approach 2.5 billion by 2050 and energy demand set to surge, green tech adoption is indispensable. 

The renewable transition is a chance to leapfrog legacy infrastructure and unlock prosperity aligned with climate resilience.

SMEs are nimble, they touch communities and can lead this change. They can scale change faster than large firms burdened by legacy systems. So long as financing, policy and capacity building advance together, green tech can be an engine of both sustainability and profit.

What SMEs Should Do Now

  1. Get the basics right: Audit energy and resource use to identify quick savings.
  2. Explore blended finance: Seek partnerships that de‑risk green investments.
  3. Build competencies: Train staff on energy management and digital tools.
  4. Tell your story: Document sustainability metrics to unlock premium markets and capital.

SMEs in Africa have long been engines of growth and now they are at the brink of another chapter, 2026, where sustainability is a driver of profitability, not a burden. 

Green tech isn’t just an add‑on but a strategy, and those who leverage it early will thrive well.

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The Future of Work in the Renewable Energy Economy https://techeconomy.ng/the-future-of-work-in-the-renewable-energy-economy/ https://techeconomy.ng/the-future-of-work-in-the-renewable-energy-economy/#respond Wed, 10 Dec 2025 07:13:03 +0000 https://techeconomy.ng/?p=172455 The renewable energy sector stepped up when legacy infrastructure was struggling to keep up. Now, this sector is changing the nature of the industry in South Africa on multiple levels.

From employment to innovation to global best practice, South Africa’s renewable energy economy is transforming the industry.

And yet, when it comes to employment and skills development, the sector continues to grapple with some serious gaps.

The first is permanence. The industry hasn’t fundamentally transformed net job creation with only 6,000 permanent jobs created.

The rest are temporary. Many people are working on the initial construction phases of a project, but their skills aren’t translating into long-term roles.

Another challenge is how the country’s exceptionally high unemployment rate is affecting how intelligent technologies can be adopted – automation and robotics that may make sense in other regions can’t be replicated in South Africa without displacing people who rely on jobs for their livelihoods.

There is a constant need to find a delicate balance between the need to evolve and advance, alongside ensuring people aren’t left behind.

This dynamic has created a uniquely South African version of the clean energy transition. The industry continues to modernise, but it does so in a way that supports employment and economic participation.

In practice, this has widened the definition of what the renewable energy workforce looks like, bringing a different emphasis to roles and attributes that weren’t essential a decade ago.

The move towards large-scale renewable energy deployments has increased the demand for specialised skills, but many of these aren’t entirely new roles.

They are extensions of existing roles that have been reimagined by the complexity of modern projects.

As more solar and battery plants move from development to operation, there’s a growing need for asset managers, performance analysts, operations and maintenance specialists, and grid engineers – roles that ensure energy plants can operate optimally throughout their lifecycle.

Then, of course, cybersecurity is an important issue. Modern energy plants rely heavily on control and networking technologies that enable  remote monitoring and data collection through digital interfaces, and that means protecting these systems is critical.

Downtime or disruption can have serious financial and operational consequences.

Therefore, cybersecurity training and expertise is increasingly  associated with renewable energy. At the same time, the volume of data created by these intelligent systems has increased demand for people who can do analytics or data management and who can support day-to-day decision-making.

Their insights can fundamentally change how leadership perceives plant performance, operational risks as well as  guide preventative and corrective maintenance.

Looking into the future, the introduction of the South African Wholesale Electricity Market (SAWEM) is going to change the demand for talent even more.

Energy trading, day-ahead forecasting and financial modelling are already well-established careers in the UK and Europe, but are relatively new locally.

South Africa’s move towards a more open electricity market will make these skills increasingly important, presenting an opportunity for skills transfer between the financial services and energy sectors.

The sector is also attracting experienced professionals from mining, oil and other heavy industries who are looking for work that carries more meaning. Many want to contribute to long-term energy security and climate resilience, and renewable energy offers a way to do that.

Internal engagement data consistently shows that people working in the sector feel connected to the mission of building a cleaner, more stable future, although this is not their only motivation.

The rapid change of pace in the sector is alluring for people who enjoy problem solving and rapid innovation.

This is where balance is key. The sector needs to build a long-term talent pipeline which recognises all parts of society, creating opportunities for skills development and career growth. Skills development often happens in shorter-term, community-based interventions aligned with project locations and partnerships with universities and TVET colleges.

Internship and vacation-work opportunities help create exposure, but do not yet meet the scale of national demand for specialised renewable energy skills.

The construction phases of utility-scale projects continue to offer the greatest volume of short-term employment, while operations and maintenance roles create longer-term, though fewer, opportunities.

The sector relies on scarce skills in high-pressure delivery environments, and companies must create workplaces where people can thrive.

At SOLA, values are embedded into the performance system so that how work is done carries equal weight to what is delivered.

Much of the industry’s strength lies in the mix of deep technical expertise alongside curiosity and the willingness to take on complex challenges.

The clean energy transition is creating new job categories and redefining old ones. It is expanding opportunities while demanding new skills, new mindsets and new forms of collaboration.

It also asks that companies prioritise skills development across South Africa because right now, the door is open and there is plenty of opportunity.

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Meta Secures $29 Billion for Massive Data Centre Project https://techeconomy.ng/meta-29-billion-data-centre-funding-louisiana/ https://techeconomy.ng/meta-29-billion-data-centre-funding-louisiana/#respond Fri, 08 Aug 2025 13:50:29 +0000 https://techeconomy.ng/?p=164646 Meta has secured $29 billion in funding from PIMCO and Blue Owl Capital to support the development of a major data centre in Richland Parish, Louisiana. 

Sources familiar with the matter revealed that PIMCO will provide $26 billion in debt financing, while Blue Owl will contribute $3 billion in equity. Meta, PIMCO, and Blue Owl have all declined to comment.

This financial package is a strategic play in what Meta CEO Mark Zuckerberg described as a multibillion-dollar campaign to power up the company’s superintelligence lab. 

That lab, led by Alexandr Wang and Nat Friedman, is behind Meta’s drive toward artificial general intelligence (AGI) pursuit Zuckerberg has openly committed to with both cash and talent.

The centrepiece of this expansion is Hyperion, a colossal campus under development in Richland Parish, Louisiana. Designed to scale up to 5 gigawatts, Hyperion is expected to become one of the largest AI infrastructure sites globally. 

It will sit on 2,250 acres and is projected to create more than 1,500 permanent roles, with construction work peaking at 5,000 jobs. In parallel, another supercomputing hub, Prometheus, is taking shape in New Albany, Ohio, with an initial power target of 1 gigawatt by 2026.

The funding deal is one of the largest infrastructure-driven private financings of its kind. Meta is also moving to shed around $2 billion worth of data centre assets through co-development deals, helping share the cost burden with partners and accelerate deployment timelines.

While the company has pledged to run these data centres using 100% renewable energy, partnering with Entergy to inject 1,500 megawatts of clean power into the grid, environmental groups aren’t fully convinced. 

Concerns are growing over the facilities’ potential impact on local water supplies and carbon emissions, particularly since natural gas plants are expected to be used for energy stabilisation.

This comes after months of behind-the-scenes dealmaking. Meta had been working with Morgan Stanley to line up the financing. Apollo Global Management and KKR were reportedly in the race to lead the transaction but were edged out at the final stage.

Back in July, Zuckerberg publicly announced Meta’s long-term infrastructure roadmap, stating: “We’ll be investing hundreds of billions of dollars over the next decade to build out our AI capabilities—including several massive data centres to support superintelligence.”

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Meta Doubles Down on Clean Energy, Secures 791MW Deal to Power AI Expansion https://techeconomy.ng/meta-doubles-down-on-clean-energy/ https://techeconomy.ng/meta-doubles-down-on-clean-energy/#respond Thu, 26 Jun 2025 13:30:37 +0000 https://techeconomy.ng/?p=161879 Meta has signed four new agreements with Invenergy to supply an additional 791 megawatts (MW) of solar and wind power for its fast-growing data centre operations.

This brings Meta’s total clean energy capacity from Invenergy to 1,800 MW, nearly doubling its earlier figure of 1,000 MW. It’s a direct response to the high energy demands driven by the company’s AI-focused infrastructure.

The new deals cover four major renewable projects scheduled to come online between 2027 and 2028: Yellow Wood Solar (300 MW) and Pleasant Prairie Solar (140 MW) in Ohio, Decoy Solar (155 MW) in Arkansas, and Seaway Wind (196 MW) in Texas. 

The electricity from these sites will feed into their respective regional power grids, but Meta will retain the renewable energy credits, effectively allowing the company to account for the clean power in its carbon reporting.

While financial terms remain undisclosed, the scale and scope of the deal involve Meta committing long-term to a diversified clean energy mix to meet the immense demands of AI processing.

Ted Romaine, executive vice president of Origination at Invenergy, said the partnership goes beyond another supply deal. “Winning the AI race requires reliable, cleaner, affordable energy and energy infrastructure — today and in the future. We’re grateful for our continued relationship with Meta and look forward to future partnerships as we work to strengthen American energy independence and economic prosperity.”

Meta recently inked a 20-year agreement with Constellation Energy for 1.1 gigawatts of nuclear energy from the Clinton Clean Energy Centre in Illinois. It also joined forces with geothermal developer XGS Energy to build a 150 MW water-independent geothermal facility in New Mexico.

Urvi Parekh, Meta’s Head of Global Energy, stressed the urgency behind these moves. “We’re laser-focused on advancing our AI ambitions—and to do that, we need clean, reliable energy. We’re grateful for Invenergy’s longtime partnership that helps us support our energy needs and implement our clean energy goals, and look forward to continued collaboration.”

At the heart of this strategy is a transition toward long-term, stable, and zero-carbon energy sources that can reliably support Meta’s future AI workload. 

The company’s model now relies on both immediate and forward-looking procurement, blending traditional renewables with more experimental and baseload options like nuclear and geothermal.

These infrastructure investments are expected to yield economic benefits. Beyond environmental impact, the projects are projected to create jobs and strengthen local economies in the host states, while also supporting national efforts towards energy independence.

Invenergy, headquartered in Chicago, is currently the largest privately owned clean energy developer in the United States. Its role in powering Meta’s massive data infrastructure reveals how private-sector energy partnerships are becoming indispensable to the tech industry’s future.

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Lumos vs Daystar: Which is Nigeria’s Best Shot at Sustainable Solar Power? https://techeconomy.ng/lumos-vs-daystar/ https://techeconomy.ng/lumos-vs-daystar/#comments Thu, 01 May 2025 11:00:20 +0000 https://techeconomy.ng/?p=157848 Assuming sunlight could pay our bills, Nigerians would be billionaires, at least during the dry season.

In this country, we are bathed in 2,555 kWh/m² per year of solar radiation, but still bargain over fuelwood in 2025. The paradox of power supply is so absurd. 

As of 2023, Nigeria’s solar energy capacity finally crept to 112 megawatts, a 2,700% growth from 2014. A giant one for renewables? Perhaps. But with 39% of Nigerians still without access to electricity, and 67.8% still burning wood to cook dinner, it feels more like a brisk shuffle forward.

Recently, the government announced a ₦10 billion solar budget for Aso Rock alone, the reason being that the annual electricity bill for the presidential villa has reached ₦47 billion, which officials say is unsustainable, bringing forth the need to diversify energy sources, cut governance costs, and reduce reliance on the national grid.

At least some people will have light to admire their own progress, but the rest of us must lean heavily on private sector innovation.

So, let’s help ourselves, individuals, SMEs and corporate companies. Let’s talk about two solar energy companies operating in Nigeria, comparing Lumos and Daystar Power.

Different philosophies, different strategies, but one mission, to drag Nigeria, kicking and screaming, into the age of clean, reliable energy.

Background of the Brands

Lumos

Lumos entered the Nigerian market with a simple pitch: affordable, pay-as-you-go solar systems, targeted mainly at households and micro-businesses.  

The company formed a partnership with MTN, leveraging mobile payments to deploy this solar system model. Its signature product? A “yellow box” solar kit — simple, affordable, and effective.

Daystar Power

On the other hand, Daystar took one look at the retail market and politely passed. Instead, it targeted the corporate sector, including banks, telecom towers and manufacturing plants. 

Its solutions, usually a combination of solar and hybrid energy systems, are designed for heavy lifting, backed by long-term contracts and serious engineering muscle. Shell Investments and other backers recognised Daystar’s potential early, pumping millions into its expansion.

Business Model Comparison

Lumos is the street hustler of solar. The company’s model is pay-as-you-go, highly consumer-friendly, and deeply integrated with mobile money. The focus is to scale fast and keep it simple.

Daystar, meanwhile, plays the long game. It operates a business-to-business (B2B) model, offering energy-as-a-service. Clients don’t buy solar panels; they sign up for long-term savings and reliable electricity without the headache of ownership.

Product/Service Offering

Lumos offers solar home systems designed to power small electronics like TVs, laptops, fans, lights, even clippers. Think of it as solar energy with training wheels. Lumos’ user experience is seamless. Sign up, pay a token via your phone, and bask in light.

Daystar provides industrial-scale solutions such as massive solar plants, hybrid systems combining solar, diesel, and battery storage. Remote monitoring, predictive maintenance, and optimised energy management are standard. While Lumos gives you a torch, Daystar is building the entire lighthouse.

Target Audience

Lumos focuses on low to middle-income households, small businesses, and rural communities usually abandoned by Nigeria’s national grid.

Daystar courts the big fish—banks, telecom operators, agricultural firms, and manufacturing plants—organisations where a power outage can cost millions.

Pricing and Affordability

Lumos is like a friendly loan shark — small initial payments, spread out through affordable mobile instalments. It’s electricity on a budget.

Daystar is a capital commitment. Upfront investments can be steep, but businesses are rewarded with energy savings over time. If Lumos is a sprint, Daystar is a marathon.

Market Presence and Reach

Lumos, powered by its MTN partnership, has spread across several Nigerian states, mostly focusing on areas with poor electricity access. Expansion beyond Nigeria remains tentative.

Daystar, on the other hand, has expanded across West Africa, with operations in Nigeria, Ghana, and Côte d’Ivoire, among others. With backing from Shell and other investors, its goals are decidedly continental.

Performance and Reliability

Lumos customers praise the ease of use and reliability, though many note that the systems struggle with heavy appliances. The company’s customer service and multi-year warranties are strong selling points.

Daystar boasts of uptime guarantees north of 99%, great engineering credentials, and a corporate client list that speaks for itself. It’s the solar solution you buy when failure isn’t an option.

Both brands have received industry recognition, but Daystar’s accolades usually include global awards for innovation and sustainability.

Challenges

Lumos faces a natural ceiling: its systems simply can’t power larger household devices like fridges or air conditioners without upgrades.

Daystar struggles with the high entry cost. Many SMEs would love a Daystar system but can’t afford the upfront costs or complex contracts.

Impact on Nigeria’s Renewable Energy Drive

Lumos has calmly led a grassroots solar uprising. In making solar accessible to rural homes and small shops, it has introduced millions to renewable energy.

Daystar is killing diesel—slowly but surely. Every bank branch or telecom mast that switches to Daystar shaves a little off Nigeria’s diesel dependency and reduces emissions.

In 2023 alone, Nigeria generated 50 gigawatt-hours of electricity from solar, maintaining growth. Renewables now contribute 20.5% of total power generation, thanks, in no small part, to companies like Lumos and Daystar.

In Nigeria’s solar sector, Lumos and Daystar are not competitors, they are allies on different fronts.

  • Lumos is the democrat, bringing power to the people.
  • Daystar is the strategist, rewiring industry from the ground up.
  • For families and small shops in dusty towns, Lumos is the light at the end of the tunnel.
  • For banks, factories, and corporate giants, Daystar is the trusted path out of darkness.

Simple Comparison Table:

Feature Lumos Daystar Power
Target Market Households, SMEs, Off-grid communities Businesses, Industries, Corporates
Pricing Model Pay-as-you-go, Mobile payments Long-term contracts, Energy-as-a-Service
Technology Home solar kits Solar + Hybrid systems
Market Reach Nigeria (selected states) Nigeria, Ghana, Côte d’Ivoire
Affordability Very high High initial cost, lower long-term
Innovation Highlight Mobile-based monitoring Remote predictive maintenance

 

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SA’s Zimi Bags $320,000 Grant to Test EV Power Sharing Tech That Could Ease Load Shedding https://techeconomy.ng/sas-zimi-bags-grant-to-test-ev-power-sharing-tech/ https://techeconomy.ng/sas-zimi-bags-grant-to-test-ev-power-sharing-tech/#respond Thu, 17 Apr 2025 14:19:52 +0000 https://techeconomy.ng/?p=157027 While most people think of electric vehicles (EVs) as just transport, Zimi, a South African startup, wants to turn them into something more: mobile energy banks. 

And now, with $320,000 (R6 million) in grant funding from the Energy and Environment Partnership (EEP Africa), the startup has the backing to prove it’s not just an idea.

The project isn’t about selling more chargers or fancy dashboards, but confronting one of South Africa’s most pressing headaches — load shedding — with a tool that’s been parked in our garages all along.

Zimi’s focus is vehicle-to-grid (V2G) technology. In plain terms, it’s a system that lets EVs push electricity back into buildings or the national grid. You go out, you drive, you come back, you plug in — and instead of just topping up your battery, your car can give power back to your home or workplace. When the grid fails, you don’t have to sit in the dark.

The grant aims to investigate and understand the limitations and challenges of Vehicle-to-Grid (V2G) technology, develop real-world pilot applications to test V2G in practice, and ultimately create a commercial model that operates within existing grid constraints,” said Michael Maas, CEO of Zimi.

The EEP Africa grant didn’t come easy. Over 530 organisations submitted applications. Only 32 got the green light. Zimi was one of them. That’s no fluke.

Zimi already works closely with logistics firms — companies that own large vehicle fleets and lose money every time a truck sits idle. With V2G, that downtime becomes productive. An EV parked at a warehouse can now help power the lights and keep operations running during outages. It’s energy recycling, fleet-style.

Perhaps the most important factor is a proven track record – something we have established through our work with major logistics providers such as Bakers Logistics,” Maas added.

The EV market in South Africa is still growing, but Zimi isn’t waiting for mass adoption. It’s betting on fleet operators to lead the transition. These are the early adopters who feel the pinch of diesel prices and operational delays more than anyone else. They also have the scale to test and refine new tech like V2G before it hits mainstream consumers.

Zimi’s solution is a complete system that helps businesses monitor their energy usage, manage payments, and even plug into solar power when available. Think of it as a full EV ecosystem, designed for the realities of South African power problems.

The timing couldn’t be better. Volvo recently launched the EX90 in South Africa, one of the country’s first EVs capable of bi-directional charging — a key requirement for V2G tech. Slowly but surely, the hardware is catching up with the vision.

At its core, Zimi is pushing for a mindset shift. The car in your driveway or at the company depot isn’t just for transport anymore. It’s a backup generator, a battery, and a power manager rolled into one.

For a country that still dreads the next stage of load shedding, it’s a breath of fresh thinking. 

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EcoFlow Enters Nigeria’s $14 Billion Backup Power Market with Smart Energy Solutions https://techeconomy.ng/ecoflow-enters-nigerias-14-billion-backup-power-market/ https://techeconomy.ng/ecoflow-enters-nigerias-14-billion-backup-power-market/#respond Mon, 31 Mar 2025 08:11:52 +0000 https://techeconomy.ng/?p=155864 Let me tell you, Nigeria’s relationship with electricity has been a bit of a rollercoaster, hasn’t it? We’re talking blackouts that seem to last longer than a Bank Holiday and the constant hum of generators polluting the air. 

With over 22 million petrol and diesel generators in use nationwide, backup power has become a $14 billion industry. But EcoFlow has officially landed, and the company is bringing a whole new energy to the situation.

You see, this isn’t just another company trying to sell us something. EcoFlow, a global power technology company, is here to offer a real alternative—one that’s clean, quiet, and cost-effective. The company gets that Nigeria’s energy problems are a massive headache. As Isaiah Umoh, EcoFlow Nigeria’s Business Development Manager, said:

“With energy reliability being a constant challenge in Nigeria, we recognise the urgent need for a solution that is both practical and sustainable. EcoFlow is here to redefine the power landscape, offering advanced battery-powered solutions that eliminate the noise, pollution, and high running costs of traditional generators. Our goal is to make clean, efficient power accessible to everyone, whether for homes, businesses, or outdoor use.”

And he’s not wrong. Nigeria has an installed electricity capacity of 13,000MW but generates only 4,000MW on most days, forcing millions of households and businesses to rely on expensive, polluting fuel generators. The situation has only worsened since the removal of fuel subsidies, which has drastically increased petrol and diesel costs. The result? More people are desperately seeking alternatives.

A Smarter, More Sustainable Alternative

So, what’s EcoFlow bringing to the table? Portable power stations. And no, these aren’t our old noisy, fuel-guzzling generators. We’re talking sleek, silent, and clean energy solutions that can power everything from your fridge to your business tools.

EcoFlow’s best-selling product range is the new RIVER 3 Max Plus, a portable “never-power-off” solution with:

  • 858Wh capacity, capable of running 90% of essential home appliances.
  • Fast-charging technology, reaching full charge in just 2.3 hours (AC outlet).
  • Solar and car charging compatibility for flexible power options.
  • Ultra-quiet operation, running at under 30 decibels—quieter than a normal conversation.
  • Long lifespan, powered by an advanced LFP (Lithium Iron Phosphate) battery, lasting up to 10 years.

Beyond the RIVER series, EcoFlow’s DELTA series offers even more power, ranging from 1,000W to 3,600W. At the launch event, a DELTA unit (2,700W output) was demonstrated, effortlessly powering a TV, fridge, and microwave simultaneously. Prices start at ₦250,000 for the smallest unit (300W) and go up to ₦1.1 million for higher-capacity models.

Participants explored eco-friendly solutions, including the RIVER 2 Pro, DELTA 2, and DELTA 2 Max, through engaging and interactive experiences.

The Cost Question—Making Clean Energy Affordable

Now, I know what you’re thinking: “Renewable energy? Isn’t that expensive?” Well, EcoFlow’s got a plan for that too. They’ve partnered with TD Africa to introduce Buy Now, Pay Later” financing through JOI (Just Own It), allowing customers to spread payments over 6 to 48 months. 

With Nigerians spending up to 40% of their income on electricity and backup power, this flexible payment plan could be a game-changer.

EcoFlow isn’t just here to sell gadgets, the company is here to bolster Nigeria’s power sector. Offering an affordable, long-term alternative to fuel generators, EcoFlow seeks to disrupt the multi-billion-dollar backup power industry and reduce Nigeria’s reliance on fossil fuels.

But it’s also thinking bigger. EcoFlow’s expansion into Nigeria will drive:

  • Job creation in sales, distribution, and technical support.
  • New partnerships with local retailers and energy providers.
  • Greater adoption of renewable energy in homes, businesses, and off-grid communities.

Let’s be real—Nigeria’s power problems won’t disappear overnight. But EcoFlow’s entry is a big step toward cleaner, more reliable energy in the country. We know electricity instability has held back businesses, drained household budgets, and polluted the air for decades, but this is a breath of fresh air.

It’s time to power up differently—smarter, cleaner, and more sustainably. And honestly? I’m here for it.

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Apple Expands Clean Energy Push in China with $99 Million Fund https://techeconomy.ng/apple-expands-clean-energy-push-in-china-with-99-million-fund/ https://techeconomy.ng/apple-expands-clean-energy-push-in-china-with-99-million-fund/#comments Mon, 24 Mar 2025 13:47:39 +0000 https://techeconomy.ng/?p=155460 Apple is looking to further bolster renewable energy in China with a fresh ¥720 million ($99.22 million) investment aimed at scaling up wind and solar power production. 

With CEO Tim Cook recently visiting Beijing, the investment aims to align the company’s Chinese supply chain with global clean energy goals.

The investment is the second phase of Apple’s China Clean Energy Fund, first launched in 2018. The initial phase mobilised $300 million from Apple and 12 of its suppliers, leading to the development of over 1 gigawatt of solar and wind projects across 14 provinces. 

Now, Apple aims to add another 550,000 megawatt-hours of renewable energy to China’s grid, pushing its suppliers further toward sustainable manufacturing.

Jeff Williams, Apple’s chief operating officer, noted the role of Chinese partners in this transition, stating, “Our suppliers in China are promoting world-class progress in the fields of intelligent manufacturing and green manufacturing. With the launch of the second phase of the China Clean Energy Fund, we are honoured to deepen our connection with suppliers across China.”

Apple has kept quiet on which suppliers are part of this new phase, though past participants included major firms like Compal Electronics, Corning, Jabil, and Luxshare. Some of these suppliers have since reshaped their operations—Luxshare, for instance, acquired Pegatron’s iPhone production facility, while Catcher Technology sold key assets to Lens Technology.

This initiative ties into Apple’s environmental strategy. The company has been carbon neutral in its corporate operations since 2020 and is pushing to extend that across its supply chain and products by 2030. In China, about two-thirds of Apple’s manufacturing is already powered by renewable energy, with the company working alongside over 100 suppliers to accelerate the shift.

Cook’s visit to China coincided with the China Development Forum, where he met with senior officials and reiterated Apple’s focus on innovation and sustainability in the country. 

Apple’s green initiatives have previously won global recognition, including a UN Climate Action award, though not without controversy. After announcing the Apple Watch Series 9 as its first carbon-neutral product in 2023, a Chinese environmental group accused the company of “climate-washing.”

Beyond China, Apple’s Supplier Clean Energy Program is pushing its global partners to adopt renewables, revealing the company’s strategy to influence supply chains worldwide.

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