Founder, Taranis Novus Renewable Energy, Kehinde Olaleye, yesterday, lamented the extra burden on businesses caused by the price of energy in Nigeria.

Olaleye disclosed this during the signing of a distribution agreement between Tranis Novus and Lithtech Energy at Tafawa Balewa Square (TBS), Lagos Island, Lagos.

He called for solutions in the energy sector to bring down the cost of production and improve the lives of Nigerians.
He said: “Nigeria has been battling an energy crisis for a long time and I think this is the right time to do this, considering the removal of fuel subsidy.

Our goal fits into the Federal Government’s plan on education, health and services. Our aim is to bring the cost of energy down so that any Nigerian can afford the cost of energy, good health and others.
“The other is, the consumption of things in Nigeria is going higher, because the cost of operation of SME companies is about 70 per cent on diesel, and they have to pass the costs to customers.

“If we provide the solution that can save them 50 per cent, we believe that out of that 50 per cent, their profit can go up by 10 per cent. Ten per cent will go into research and development and then 10 per cent will reduce the cost of living.”

He added: “Our impact is not about alternative energy alone but also sustainability of the industry. Industries are closing down, the cost of diesel has doubled. We brought this solution that can give up to 18 hours of light and we don’t need to put pressure on the grid. We need to make the environment sustainable.”

Speaking during the programme, Co-Founder, Taranis Novus, Fabian Adeoye Lojede, said: “This is not really a departure from the creative industry. Business in itself is a creative venture especially when it comes to startups. This is not different from building a file production company.

I didn’t come into the company; I’ve been part of it from the start. For me, it’s part of the whole creative process of a starter. I have more in common with a scientist who decides to great a new drug than a writer who has not written anything but steal it.

“In the last 20 years, renewable energy sector has improved. They are R&D company and they are constantly doing research and coming up with new ideas. They can be cheap in the long run.

On his part, International Sales Director, Lithtech Energy, Leo Liu, said: “There is issue with the Nigeria energy; one of the big issues is the unstable grid so, what we are doing is to bring off-grid solution for both residential and commercial and also offer 24 hours uninterrupted power.

Getting power in Nigeria is still highly dependent on diesel so, we are working on reducing the dependence on diesel.

“We are not here to provide solutions to energy by only selling products, we are trying to educate and bring know-how to the market. This partnership is big on training and education; we will open online training courses for people to know about the technology, maintenance and installation.