- WATT Renewable Corporation aims to raise $100 million for solar-powered telecommunications towers in Nigeria by the end of 2024, as reported by Bloomberg.
- The company prefers to attract a major investor to acquire a stake in the venture but is open to financing individual projects independently if necessary.
- WATT is in discussions with energy industry companies that possess knowledge of renewable energy and the African market. Their portfolio includes Battery Energy Storage Systems, grid-connected projects, and solar initiatives for commercial and industrial clients in multiple Nigerian states.
Canada-based WATT Renewable Corporation is seeking to raise $100 million for the implementation of solar-powered telecommunications towers in Nigeria, as reported by Bloomberg.
The company aims to secure this funding by the end of 2024, to expand its operations to provide solar-powered telecom infrastructure in the country.
Sherisse Alexander, the Chief Investment Officer of WATT, disclosed the company’s preference for attracting a major investor to acquire a stake in the venture. Nevertheless, WATT remains open to independently financing individual projects if necessary.
Alexander further mentioned that WATT is actively engaged in discussions with energy industry companies, particularly those with a solid grasp of renewable energy and the African market. WATT’s website showcases its portfolio, which includes Battery Energy Storage Systems (BESS), grid-connected projects, and customized solar initiatives designed for commercial and industrial clients in multiple Nigerian states.
These states include Lagos, Kogi, Zamfara, Taraba, Ogun, Kaduna, Jigawa, Kebbi, Kano, Kwara, and Yobe.
Focus on telecoms towers
In the Bloomberg report, Alexander also stated that the company is focused on transitioning telecommunication towers’ operational fuel from diesel to clean energy. She said:
- “We made our foray into the telecommunications industry where we transition telecommunication providers and towers from diesel-generated power over to a solar hybrid solution.”
One of WATT’s main customers is Pan African Towers Limited, Nigeria’s largest indigenous telecom tower infrastructure provider. In April 2023, it was highlighted that WATT would be installing solar photovoltaic (PV) on 375 Pan African Towers’ telecommunications sites across Nigeria.
To ensure 100% power availability, WATT would work to co-locate batteries on all suitable sites. The company would also continuously monitor and proactively maintain all of the sites from its network operation center to ensure industry-leading reliability and uptime.
Also, redundant power generated by the sites is being made available to local communities at a subsidized rate so they can benefit from the clean energy project.
Why this matters
In March 2023, the Nigerian Communications Commission (NCC) announced that it was planning to reduce the use of generators for 54,000 base transmitter stations in the country. At the time, the Commission’s Chief Executive Officer, Prof Umar Garba Danbatta said that the peculiarities of Nigeria’s electricity supply have made the telecommunications sector, a contributor to carbon emissions.
He noted that Nigeria’s telecoms sector contributes to global emissions because there are over 54,000 base transmitter stations powered by generators for up to 24 hours daily and seven days a week.