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As a licensed Meter Asset Provider, CWG Plc has been given a contract sum of $11.1million by the Ibadan Electricity Distribution Companies (IBEDC) to deploy over 100,000 smart meters in Babaoko, Omu Aran and Jebba Business Hubs.
CWG’s Business Development Manager, Corporate Development, Mr. Emmanuel Ilori disclosed this recently in a chat with some Journalists in Lagos. According to him, the contract is a fall out of CWG’s utility business, having the full regulatory bodies’ recognition as it has both the NEMSA and MSP certificates, all of which lend credence to its metering business and positioned the company to harness the inherent opportunities within the electricity value chain… More details through: https://thenationonlineng.net/cwg-set-to-deploy-100000-smart-meters-for-ibedc/
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Israel will assist Nigeria to develop methanol fuel production technology, the Minister of Science and Technology, Dr. Ogbonnaya Onu, has said.
Dr. Onu disclosed this when the Ambassador of the State of Israel to Nigeria, Shimon Ben-Shoshan, visited him in his office in Abuja on Tuesday. The minister said Nigeria’s partnership with Israel had helped considerably in its quest for a knowledge and innovation-driven economy. He said the Memorandum of Understanding (MOU) signed between the two countries for the implementation of methanol fuel production technology would be beneficial to Nigeria in its diversification process… More details through: https://dailytrust.com/israel-to-assist-nigeria-on-methanol-fuel-tech The management of Egbin Power plc has said that the electricity generating company will spend about $40million to overhaul its two units. Each of the units, according to Temitope Shonubi, the Chairman of the company, will cost $20 million as this is in a bid to ensure continuous generation of electricity to consumers…
More details through: https://businessday.ng/energy/article/egbin-power-to-spend-40m-to-improve-electricity-generation/ In sub-Saharan Africa, the mini-grid market potentially represents $ 3.6 billion in revenue according to the ADB. In addition, this solution will allow populations to gain access to electrification faster and achieve universal access to energy more quickly.
The size of the mini-grid market in sub-Saharan Africa is now estimated at $ 3.6 billion, according to the African Development Bank (AfDB). The Nigerian power grid rose to 5,377 megawatts (MW) peak power generation on Saturday night, a feat attained 18 months after the previous record. The Transmission Company of Nigeria (TCN) disclosed this on Monday. It said the enhanced record occurred at 9.30pm on Saturday. On February 7, 2019, the national power grid reached 5,375MW peak generation, with improved electricity to many places nationwide… More details through: https://www.newtelegraphng.com/electricity-mini-grid-market-in-nigeria-others-worth-3-6bn/ The Sustainable Use of Natural Resources and Energy Finance (SUNREF), a green financing line for businesses developed by the French Development Agency (AFD) has launched a technical assistance facility for the development of green energy projects in Nigeria with a €70 million facility funded by the AFD and the European Union Infrastructure Trust Fund (EU-ITF).
Through this grant, the SUNREF Nigeria programme will provide technical assistance to support the Manufacturers Association of Nigeria (MAN), partner banks – Access Bank and the United Bank for Africa, and companies in Nigeria towards the development of energy efficiency (EE) and renewable energy (RE) projects… More details through: https://www.sunnewsonline.com/sunref-launches-nigerias-renewable-energy-projects-with-e60m-funding/ In efforts to boost the renewable energy sector in Nigeria, Shell Petroleum Development Company, (SPDC) has committed to a $1.5 million investment deal with Auxano Solar to scale up operations over the next five years.
The investment, which is spearheaded by All On, a Shell-funded investment company will fast-track locally made materials for solar projects, thereby making it affordable to Nigerians. Programmes and Investment Manager, All On, Afolabi Akinrogunde, said the investment is aimed at expanding Auxano’s solar panel assembly capacity by over 50 per cent and a great win for local content… More details through: https://guardian.ng/business-services/experts-advocate-local-solar-panel-assembly-commit-1-5-million/ All On, a Shell-funded impact investment company has announced a $1.5m investment in Auxano Solar Nigeria Limited, one of the biggest solar panel assembly plants in Nigeria to scale its operations over the next five years. “This investment would guarantee the expansion of Auxano’s solar panel assembly capacity by over 50 percent…
More details through: https://businessday.ng/lead-story/article/shell-funded-investor-all-on-signs-1-5m-plant-expansion-deal-with-auxano/ The Federal Government has said that it has so far spent about $5.8 billion on the 40-year-old Mambilla Hydroelectric Power project. The Mambilla Hydroelectric Power Station, is a 3,050 MW hydroelectric power project under development in Nigeria. When completed, it is expected to be the largest power-generating installation in the country, and one of the largest hydroelectric power stations in Africa.
Billed to commence operation in 2030, Mambilla will be Nigeria’s biggest power plant, producing approximately 4.7 billion KWh of electricity a year. “The project is estimated to cost $5.8 billion and will generate up to 50,000 local jobs during the construction phase” a document obtained by Daily Sun shows… More details through: https://www.sunnewsonline.com/fg-sinks-5-8bn-in-mambilla-hydroelectric-power-project/ Lumos, Africa’s solar home system provider, has announced new financing from U.S. International Development Finance Corporation (DFC) to expand its existing market for reliable, accessible and clean solar power in Nigeria. The new financing will enable Lumos to produce an additional 160,000 solar home systems (SHS) to meet ever-increasing demand from homes and businesses across the country where it already has a majority of the market share.
Currently, over 160 million people in Nigeria have poor or no access to the electricity grid. Africa Business Community reports that hundreds of thousands of new Lumos solar home systems will enable close to a million people to switch to reliable, clean energy, contributing to economic growth and sustainable development in the country. This is aligned with the Nigerian government’s plans announced in June to connect five million households to solar power. Alistair Gordon, Group CEO, Lumos, said: “This funding from DFC will enable people throughout Nigeria to seize the opportunities that come with access to reliable and affordable power… More details through: https://www.newtelegraphng.com/u-s-finance-corps-funds-nigerian-solar-project-with-35m/ A €70 million financing for businesses for green energy projects provided by the French Development Agency (AFD) and the European Union Infrastructure Trust Fund (EU-ITF) will help to make manufactured products in Nigeria competitive, some manufacturers have said.
At the virtual launch of the the Sustainable Use of Natural Resources and Energy Finance (SUNREF), on Tuesday, the organisers said the Manufacturers Association of Nigeria (MAN) and Winrock International, a US-based nonprofit working to improve energy access around the world will act custodians of the fund created to assist manufacturers deal with inadequate energy supply. Mansur Ahmed, president of MAN, in a speech read by a representative, said the challenge of inadequate electricity supply is hindering the growth and competitiveness of the manufacturing sector in Nigeria… More details through: https://businessday.ng/energy/power/article/sunref-e70m-green-energy-financing-will-make-manufactured-goods-competitive-man/ |
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