CEU Electronic Theses and Dissertations, 2023
| Author | Aderinto, Idris |
|---|---|
| Title | Assessing the financial feasibility of Nigeria's 2030 targets for solar and nuclear power |
| Summary | Massive expansion of low-carbon electricity is key for sustainable development and climate change mitigation, especially in developing economies. Nigeria plans to increase the share of renewables in its electricity to 30% by 2030 while simultaneously expanding electricity production and constructing at least one nuclear reactor. Is the financial investment required for these plans feasible? To answer this question, the thesis uses the “feasibility space” approach, comparing the planned energy transition in Nigeria to several “reference cases”. The thesis constructs clean energy transition scenarios for Nigeria with installed solar capacity up to 6.5 GW, nuclear up to 1.2 GW and the required investments up to $37 billion ($156 per capita). The thesis shows that these investments exceed the entire Official Development Assistance and Foreign Direct Investment in Nigeria. They make up to 8% of Nigeria’s GDP, which is double that of Just Energy Transition Partnerships commitments to Vietnam, two- three times larger than Russia’s loans to nuclear power in Bangladesh, and over ten times larger than Germany’s renewable energy investments. The thesis recommends that to achieve its targets, Nigeria should advance its relations with key nuclear suppliers backed by respective states while being mindful about geopolitical implications. The best strategy for developing solar power is public private partnerships as in Brazil and Vietnam. The thesis also recommends more research into successful cases and specific mechanisms of attracting public and private investments to clean energy transitions in Nigeria and other developing and emerging economies. |
| Supervisor | Cherp, Aleh |
| Department | Environment Sciences and Policy MSc |
| Full text | https://www.etd.ceu.edu/2023/aderinto_idris.pdf |
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