Wedoany.com Report-Jun 20, GlobalData, a London-based data analytics and consulting firm, predicts that Nigeria’s cumulative solar capacity will grow from 179 MW at the end of last year to 255 MW by the end of this year. The consultancy forecasts steady annual increases, with solar capacity reaching 678 MW by the end of this decade, 1 GW by 2033, and 1.5 GW by 2035.

These projections are part of GlobalData’s latest report on Nigeria’s power market trends through 2035. The report indicates that total renewable energy capacity, including hydro, onshore wind, biopower, and solar, will approach 800 MW by the end of the decade and rise to 1.7 GW by 2035.

Attaurrahman Ojindaram Saibasan, Senior Power Analyst at GlobalData, highlighted that Nigeria’s Renewable Energy Masterplan positions solar as a key investment opportunity. He noted that limited access to electricity and unreliable power supply are major drivers of solar adoption in the country. Saibasan stated: “The Rural Electrification Agency is actively executing an expansive strategy that incorporates both energy service company-led and utility-led models. This approach is designed to expedite the electrification process via grid expansion and the deployment of green minigrids.”

The distributed solar power (DSP) market in Nigeria is expanding, fueled by advancements in solar technology and innovative financing models that enhance affordability and scalability. Saibasan added: “The primary focus is on electrifying market clusters, manufacturing centers, educational institutions – including schools and universities – and healthcare facilities, utilizing solar PV and hybrid solar PV-diesel systems.”

Recent developments include a 100 MW solar-plus-storage agreement and plans for a 1.2 GW solar module assembly plant, signaling growing momentum in Nigeria’s solar sector. These initiatives support the country’s efforts to improve energy access and reliability through sustainable energy solutions.