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F4 Energy Services

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7mo

CEO Ikeja Electric Folake Soetan spoke about the importance of partnership and collaboration between the distribution companies, mini grids ,renewable energy companies and also the importance of funding and raising capitals to improve our power sector

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Let me come to you for lucky then. What role do you see for private mini grid companies like yourselves to coexist and to collaborate, which seems to be the central theme in this conversation with state level utility companies and to do this across a big market like Nigeria. And again, I'm going to blitz right through and ask you to to keep it to about two minutes. OK, First of all, we are utilities. So yeah, not a mini grid company in my area. So mission, I said to you. The future of Nigeria distribution is going to be a mixture of centralized and decentralized solutions. The problem as we all know is funding is critical to be able to effectively execute the projects to ensure that you're able to access this sort of energy that's required in underserved or unserved right occasions. So the utilities are this time are not opposed to working with mini grids. Why today because of the issue with funding, the Discos are not able to effectively. Put in the infrastructure that is required to be able to ensure that there's energy access in remote locations. However, the mini grids have their more nimble, they're able to easily deploy these solutions. So it's in the best interest of the distribution company to collaborate and work with the mini grid companies to ensure that we jointly leverage on each other. I have an existing infrastructure today. The mini grid have other sources to be able to ensure that I can make energy. Available for underserved or unserved areas. So collaboration is fantastic. Is, is, is, is is important. Second is joint ventures. I spoke about, you know, private equity firms, we can have joint ventures. The discos are not opposed to that. If you allow the mini grids support you in areas that you can't get into and you have a, a workable agreement, then what that simply means that when that time elapses, the disco can just take off from that part. So collaboration, collaboration. They insist the Discos are open to it, the regulatory framework is there to support it and everybody is ready to work. What we need is funding and I'm hoping that there are people here today that are ready to come into the Nigerian market. This concerns that people had before with regards to policies. I think the government is very serious about that and they've shown that. So there's a lot of opportunity and I just thought it was an opportunity for me to also just kind of share that with people. I think it's a very important. Because it clears the air where there's perceived tensions and what you're saying is there's no opposition. In fact, everybody's open minded and we just need the funding to get the job done and everybody's actually ready to work. And I think it's a really exciting place to be.

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