The Rural Electrification Agency has launched the Renewable Asset Management Company to manage and sustain publicly funded renewable energy assets in universities and teaching hospitals across the country.
The Managing Director of the REA, Abba Aliyu, disclosed this on Wednesday in Abuja at the official launch of RAMCO, saying the initiative was established to address the deterioration of renewable energy projects after commissioning.
Aliyu said the agency had deployed 82 megawatts of solar hybrid generation across 22 federal universities and three teaching hospitals since 2017 through its Energising Education Programme.
He, however, disclosed that an assessment of seven projects delivered under the first phase showed that only three were in good or usable condition.
“At one institution, the required special purpose vehicle had been established, but no single revenue is collected from the sale of the electricity being generated by that infrastructure,” he said.
