RENEWABLE ENERGY THE WAY FORWARD FOR NIGERIA ECONOMIC:You may not know much about Finland, but you certainly know the powerhouse technology company that became a household name across the globe and drove the nation’s economic expansion through the 1990s-2000s. Nokia generated a quarter of Finnish economic growth from 1998-2007, prompting a new term, ‘the Nokia effect’, to describe economic development powered by a single company’s success. But more recently Nokia has fallen on hard times, and in the wake of the once all-powerful company’s demise a new wave of Finnish technology startups has arisen.The nation offers a premium feed-in tariff (FiT) for energy produced from wind, biomass and biogas; additional state subsidies; and a heat bonus for combined heat and power (CHP) plants running on biogas and biomass. Finland has a hydrogen roadmap, funded by the Finnish Funding Agency for Technology and Innovation (Tekes), and recent research has shown strong results from gasification of timber industry waste products (some of the world’s largest pulp and paper companies are headquartered in Finland) as well as in the transport sector where plans to power buses with hydrogen fuel cells are ongoing and gas company Woikoski Oy has developed a hydrogen refueling station. The percentage of biofuel required in the transport sector has recently been increased. The country’s climate and energy strategy includes reducing CO2 emissions from road transport by 20 percent from 2005 levels by 2020.
Posted on: Sun, 18 Aug 2013 13:36:43 +0000
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