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Ikeja Electricity Distribution Company plans to invest N105bn in its network in the next five years; figures released by the Nigerian Electricity Regulatory Commission on Wednesday have shown.
In its draft Performance Improvement Plan submitted to the NERC, it was observed that Ikeja Disco also plans to reduce its Average Technical Commercial and Collection losses to 8.8 percent by 2024. It targets 100 percent metering of all customers by 2022 and the improvement of customer satisfaction to 95 percent by 2024… More details through: https://punchng.com/ikeja-disco-to-invest-n105bn-in-power-network/
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The United States Trade and Development Agency (USTDA) is providing funding for three projects that will help to electrify many rural communities and deliver critical gas resources to support economic activity and job growth while helping US companies export goods and services.
The organisation said it has committed funding for a feasibility study to help Xenergi Nigeria Ltd. expand and construct a natural gas gathering and processing plant that will substantially increase access to customers in the Niger Delta region. USTDA also committed funding to help the Abuja Electricity Distribution Company provide electricity to underserved communities through the implementation of up to 1,370 solar-powered minigrids with energy storage systems. USTDA Colorado’s Rocky Mountain Institute will carry out the study… More details through: https://businessday.ng/energy/power/article/this-us-agency-has-funds-for-off-grid-energy-projects-in-nigeria/ The African Development Bank says it has approved a $500,000 grant to support the development of clean energy in Nigeria.
The grant was approved under the AfDB’s Sustainable Energy Fund for Africa, according to a statement issued by the bank on Friday. The AfDB’s Sustainable Energy Fund for Africa is a multi-donor facility established to generate private sector investments in clean energy projects in Africa… More details through: https://punchng.com/afdb-approves-500000-for-clean-energy-in-nigeria/ METKA, the business unit of Greece-based Mytilineos S.A, an international contractor and industrial manufacturing group, has reaffirmed its commitment to supporting Nigeria’s power sector.
The Managing Director, METKA Power West Africa, Evangelos Kamaris, gave the assurance at the inauguration of a 7.1-megawatts solar hybrid power plant in Bayero University Kano… More details through: https://punchng.com/greek-firm-restates-commitment-to-nigerias-power-sector/ Tranos, Nigeria’s enclosure manufacturing firm, has collaborated with Toyota Motors to manufacture generators that run on Liquefied Petroleum Gas (LPG) for telecoms companies to power their base stations across Nigeria. The move became necessary to combat the theft of diesel, a common product that is easily stolen, at communication mast sites.
Jude Abalaka, managing director, Tranos, announced this development in Lagos, recently. According to Abalaka, with regards to the security of telecoms equipment at their over 20,000 base stations across the country, Tranos has come up with innovations that will solve the theft challenges… More details through: https://businessday.ng/news/article/tranos-partners-toyota-on-lpg-generators-for-telcos/ The Federal Government through the Nigerian National Petroleum Corporation and the Kingdom of Morocco have pledged to deliver on the gas pipeline bilateral agreement between Nigeria and the North African nation in record time.
The NNPC’s Group Managing Director, Mele Kyari, disclosed this while receiving the Moroccan Ambassador to Nigeria, Moha Ou Ali Tagma, at the NNPC towers in Abuja on Tuesday. Morocco’s King Mohammed VI had in December 2016 visited Nigeria in June 2018; President Muhammadu Buhari reciprocated the gesture and both leaders signed a number of agreements during the state visits… More details through: https://punchng.com/nigeria-morocco-to-deliver-gas-pipeline-in-record-time/ Nigeria and electricity giant Siemens have signed a power deal that will lead to the production of 25,000 megawatts of electricity by 2025.
President Muhammadu Buhari gave the indication at the Presidential Villa on Monday during a meeting with the Siemens’s Global Chief Executive Officer, Mr Joe Kaeser. He asked Siemens, the Transmission Company of Nigeria and the regulator to work hard to achieve 7,000mw and 11,000MW of reliable power supply by 2021 and 2023 in the first and second phases of the deal, respectively… More details through: https://punchng.com/nigeria-siemens-sign-25000mw-six-year-electricity-deal/ Africa’s biggest economy is among the top five countries with the largest cash market of off-grid solar energy with a value of $4.6 million, according to the latest Global Off-Grid Solar Market Report.
From the report by the Global Off-Grid Lightening Association (GOGLA), the global association for the off-grid solar energy industry, Nigeria off-grid solar cash sales increased by 58.6 percent to $4.6 million in 2018, from $2.9 million in 2017, but volume of products sold reduced by 5.3 percent to 204,155 in 2018, from 215,575 in 2017… More details through: https://businessday.ng/energy/power/article/nigerias-solar-energy-market-ranked-in-top-5-globally-report/ Arnergy Solar Limited has secured a $9m Series A funding to provide solar energy solutions to 35,000 businesses within the next 36 months in Nigeria.
The Chief Executive Officer, Arnergy, Mr Femi Adeyemo, while speaking at a press conference in Lagos recently, said the investment was led by Breakthrough Energy Ventures, with participation from the Norwegian Investment Fund for Developing Countries and ElectriFI. More details through: https://punchng.com/arnergy-secures-9m-funding-for-solar-power/ Nigeria sees itself securing oil and gas investments worth $48 billion between 2018 and 2025, which is 25% of a $194 billion surge of capital anticipated to flow into Africa during the eight-year period, according to the state-owned Nigerian National Petroleum Corp.
“The nation’s energy outlook appears very positive even amidst the difficult operating and economic headwinds across the continent,” Maikanti Baru, the outgoing group managing director of the company also known as NNPC, said at an oil and gas conference in the capital, Abuja. “For Nigeria, therefore, oil and gas remain essential building blocks for our economic growth.”… More details through: https://www.bloomberg.com/news/articles/2019-07-02/nigeria-sees-48-billion-energy-investment-flow-through-2025 |
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