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| Managing Director, Solynta Energy, Mr. Uvie Ugono |
Solynta Energy is a solar power company that has the passion to provide
every home and business in Nigeria with an affordable, reliable and easy power
solution. The Managing Director of the company Mr. Uvie Ugono speaks with
BrandInfo Editor, OLUWAGBENGA BANKOLE on the target of the firm to give Nigeria
stable power supply by 2027 and other important issues. Excerpt
Tell us briefly about
Solynta Energy
Solynta Energy is a solar power company. We have being in
the market since the last four years. We started precisely in April 2013. We
focus specifically on urban residence. Our primary objective is to displace the
use of power generators in Nigeria. Nigeria has the highest number of
generators in Africa. About 72 percent of Nigerians generate electricity from
generators. Our primary objective is to displace generator usage with clean
energy which is solar.
Tell us some of the
work you have done since you started operation
We have installed about 1.2megawatt of solar system. We have
over 450 customers we have installed for in Nigeria. We are installing about 50
solar systems on monthly bases. We focus on regular and consumer market. We
don’t really focus on government project or contract. We have installation in
20 states in Nigeria. Lagos state is our biggest market. We have installations
in Abuja, Imo, Calabar, Kano, Ogun and Oyo state among others.
What is your capacity
in terms of installation you can do? Can you do up to 4000megawatt?
We can do as many megawatts as it is required.
Do you have the
personnel and infrastructure that is required to do 400megawatt or more than
that?
Inadequate personnel are not the challenge of doing
4000megawatt, but lack of capital. In order for solar to become a mainstream
product in Nigeria it has to be financially affordable for people. It does not
mean it should be made cheaper, but it means people should be able to get it at
affordable price. The reason why solar is growing rapidly in the Western world
is because the banks are ready to lend the money at low interest rate and there
is modality to pay it on a monthly bases over some years.
We can give power to every single home in Nigeria as long we
are able to raise the finance to give them the system. The solution a very
simple, but the execution is where the challenge is because it requires a lot
of financial investment.
Have you been getting
enough support from Nigerian Banks?
No, we get our funding from oversee.
How can you assess
the usage of solar power in Nigeria?
I speak a lot to investors both local and oversee. What I
always tell them is that we have to change our mindsets. In my office here we make
use of solar power and you see that our electric appliances are switched on.
What do you really want? Do you want generator or electricity? Why do you have
generator in your house? Is it because of the way it sounds or electricity?
What you want is electricity. What Nigerians want is electricity. You need to
understand what a means is and what a goal is. The goal is to have 24hours
interrupted power supply. If I sell to you this ‘pad’ and I asked you fix it on
your roof that when you fix it you will have 24hours electricity and when you
did it works for you will surely continue using it. This would make everybody
to buy the ‘pad’ and fix it on their roof
The point is this; there are many ways to generate
electricity. It is not ‘rocket science.’ It has been known for so many years.
It will not take up to ten years for every single Nigeria home to have solar on
their roofs and have 24hours interrupted power supply. We are going to make it
happen within ten years. It is going to happen within ten years because we are
going to give people solar in a price that is significantly cheaper than what
they use in running generators. If I come to you and I say pay me N10,000 per
month and I will give you stable power supply would you not pay me? The reason
why everybody’s roof is not having solar panel today is because nobody has yet
executed a modern solar system that work for everybody. It has not been done
because nobody has done it.
How do you think the
government can encourage the usage of solar power in Nigeria?
The usage of solar power can be encouraged in so many ways. The
fact is this, irrespective of the source of power, it is the responsibilities
of the government to create an environment that will make foreign investors to
come to Nigeria and invest in the power sector. It is not the government
responsibility to give us power. Power generation, transmission and
distribution are strictly businesses. Is it the government that gave us phone
lines? No. The government created an enabling environment for foreign investors
to come in and invest. The government responsibility is to provide an enabling
environment for people to be able to help themselves. If you don’t have an
environment where things are stable, if you don’t have an environment where your
currency is steady, no one is going to invest. If today your currency is N200
to a dollar, tomorrow is N400 no investors will invest into your country. The
government needs to stabilize the economy environment and leave the rest to the
investors. The government job is to put the rules and regulation in place and
have a stable and steady environment that gives investors foresight and
confidence to invest. There is a limit to what investors can do in this country
unless we have a steady and conducive environment. If the roads are bad and
your tractor breakdown it makes things more expensive and difficult. If there
is no security of lives and properties it makes thing more difficult. If you
don’t have a banking system that support enterprise, allows you to borrow money
at a reasonable interest rate and pay it back within the space of five to six
years it make thing more difficult. If the banks can borrow us money and allow
us to pay them steadily within the next five or six years, it makes it easier
for us to execute the business plan. The question we should be asking ourselves
is what can the government do to create an environment that will attract
investment? There job is to create an environment with low inflation, low
interest rate, adequate security, basic infrastructure, public services and
transport, good roads and schools among others.
It they do those things and investors will come.
I want you to talk
about the power sector in Nigeria. Before this present administration came into
power, Nigerians were optimistic that they could solve the problem of epileptic
power supply in the country. However, since the last two years, there has been
no change. We have not generated more than 4000megawatt. What is your own
assessment of the power sector under President Buhari?
The power sector problem has nothing to do with President
Buhari. It is quite unfortunate, but you can’t blame people trying to hold the
President responsible for it. The truth is that government makes promises that
they knew they can’t fulfill. No government can come into Nigeria today and
give you power within two years. It is impossible. The problem of government is
that they give false expectation so that they can get elected. I expect not to see
more than what we are having today in the power sector. We have a system that
does not work. Nigeria has a population of about 191 million people growing at
the rate of 3.3percent per year. About 1kilowatt is needed per person in
Nigeria if we want to have stable power. To be an industrious country, the
benchmark is 1kilowatt per person. In fact most developing nations have more
than that as a ratio. Nigeria needs about 190000 to 190000meagwatt in order to
have uninterrupted power supply. We have a maximum capacity of 5000megwatt. We
have a gap of about 190000megawatt. South Africa has a population of 52million
people and generates 50000megawatt. Nigeria has a population of 191 million
people and we have a power supply of 5000megawatt. We have only achieved 5000megawatt
on 3 different days in our entire history. The 5000megawatt is insufficient to
power Heathrow airport in UK.
In the next few years
or before the end of this year where should we expect see to Solynta Energy?
Solynta Energy is growing very quickly. We are about to
secure a very large investment line which would enable us to roll out solar
power to 20 million homes in the next ten years. We believe that we will power
over 60 percent of Nigeria residence population by year 2027. That is our
objective and we know we have a very good strategy to achieve it.
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