Q&A: Why firms shift to long-term solar deals

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African companies are increasingly willing to sign longer-term (15 to 20-year) power contracts, a shift from the short-term thinking of the past. With the era of subsidised electricity ending, business leaders now see solar as a way to lock in predictable and lower energy costs, says CEO of Empower New Energy, Terje Osmundsen, in an interview with Renewables Rising.

• “When one sector pioneer adopts solar, there is a tendency for others to follow. We saw that, for example, in Nigerian retail, where a successful solarisation project seems to have inspired competitors to replicate the model,” he said.

• Empower New Energy is a Norway-based renewable energy impact investor targeting Africa’s small and mid-sized solar market, offering corporate and industrial clients clean power without upfront costs.

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