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Azuri Technologies plans investing $26 million on production of solar energy in Nigeria, its Chief Executive officer, Simon Bransfield, has said.
He said the firm is investing the money in conjunction with Fortune Global 500 Company Marubeni Corporation, FTSE 250 Company IP Group plc and others, adding that the development would help in improving the growth of solar market in the Nigeria and other countries in West Africa… More details through: https://thenationonlineng.net/firm-to-invest-26m-equity-on-solar
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The Federal Government on Tuesday officially inaugurated a 10 megawatts power plant at the Nnamdi Azikiwe International Airport, Abuja.
It also inaugurated an Accident Rescue Centre, the NAIA Domestic Terminal D and the Fire and Rescue Station of the General Aviation Terminal. The facilities, some of which had been in use by airport users and passengers, were inaugurated by the Minister of State for Aviation, Hadi Sirika… More details through: https://punchng.com/fg-inaugurates-10mw-power-plant-others-at-abuja-airport/ The African Development Bank Group (AfDB) has approved $200million to boost Nigeria’s electrification project, particularly the off-grid expansion being implemented by the Rural Electrification Agency (REA).
A source in the bank, who did not want his name in print because he was not authorised to speak, said the project is expected to provide electricity to households, medium, small and micro enterprises (MSMEs) and public institutions in a least-cost and timely manner… More details through: https://thenationonlineng.net/afdb-okays-200m-for-nigerias-electrification-project/ The Managing Director, Shell Petroleum Development Company of Nigeria Limited and Country Chair, Shell Companies in Nigeria, Osagie Okunbor, has said the ongoing Assa North/Ohaji South gas development project in Imo State will produce 600 million standard cubic feet of gas per day, which is equal to about 2,400 megawatts of electricity.
He said about 2.4 million homes could enjoy uninterrupted electricity from the power to be generated, according to a statement… More details through: https://punchng.com/shell-targets-2400mw-of-electricity-from-nigerian-gas-project/ The Nigerian Electricity Regulatory Commission (NERC) will soon put into force new rules that will allow third party investors to provide electricity within a franchise area earlier ceded to an electricity distribution company (DisCo) which exercises a natural monopoly over the area. Industry analysts say the new rules hold much promise for investors…
More details through: https://businessday.ng/exclusives/article/money-awaits-investors-as-nerc-moves-to-split-discos-franchise-areas/ With over $300 million in new funding coming into Nigeria’s off-grid sector in the coming months, the energy gap in Africa’s biggest economy is creating opportunities for massive investments, having proven to become the sector with the most capacity to attract new investment…
More details through: https://businessday.ng/exclusives/article/operators-excited-as-nigerias-off-grid-market-attracts-new-300m-funding/ The European Union (EU) and All On – an impact finance outfit, would launch a €30 million worth of electrification financing initiative for off-grid and commercial and industrial captive power projects in Nigeria, organisers of the upcoming fourth Nigeria Energy Forum (NEF 2019) have disclosed.
According to a statement by the NEF organisers, the funding window would help upscale investments for sustainable energy development in Nigeria. They noted that the event would hold his week in Lagos, with the former National Chairman of the Nigerian Institute of Electrical and Electronics Engineers (NIEEE), Mr. Adekunle Makinde, delivering the keynote address… More details through: https://www.thisdaylive.com/index.php/2019/04/09/eu-to-launch-e30m-power-finance-scheme-in-nigeria/ Solar Nigeria for the People Limited (Solar Nigeria FTP), the Nigerian subsidiary of Solar Philippines has signed a Community Agreement with Ode Omi Community to invest about half a million dollars to build a large rural mini grid. Signing the agreement, the Country Director of Solar Nigeria FTP, Dr. Tobi Oluwatola in a statement, said the project when completed, will electrify 634 households, seven schools, three hospitals, eight religious organizations, and more than 90 businesses in the community…
More details through: https://guardian.ng/energy/firm-ogun-community-partner-on-minigrid-to-electrify-600-households/ Transnational Corporation of Nigeria (Transcorp) Plc will scale up its power business with additional investment of about $2.5 billion as the conglomerate seeks to consolidate the profitability of its businesses.
The board and management of the conglomerate yesterday presented the underlying facts behind its operations to the investing public at the Nigerian Stock Exchange (NSE). Chairman, Transnational Corporation of Nigeria (Transcorp) Plc, Mr. Tony Elumelu, said the conglomerate’s power subsidiary, Transcorp Power Limited, will be investing as much as $2.5 billion in power projects to help boost power supply in Nigeria… More details through: http://thenationonlineng.net/transcorp-to-scale-up-power-business-with-2-5b-new-investment/ Nigerian Breweries Plc (NB) and CrossBoundary Energy have announced the signing of Heineken’s first solar project in Africa, a pact that will see the latter installing and operating a 650 kW solar plant at the brewer’s Ibadan Brewery, later this year.
Under the pact, CrossBoundary Energy will operate the facility on behalf of Nigerian Breweries as part of a 15-year solar services agreement. Hence, NB will only pay for solar power produced, receiving a single monthly bill that incorporates all maintenance, monitoring, insurance and financing costs… More details through: https://guardian.ng/energy/nb-goes-offgrid-with-650-kw-solar-powered-plant-in-ibadan/ |
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