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POWER SECTOR
Nigeria to Overcome Power Grid Challenges Soon – Minister
……….Peak generation of power drops to a 1-month low of 3,599mw
Nigeria’s minister of power, Mr. Abubakar Aliyu, has said that the ministry is working towards a reliable power grid to ensure efficient electricity supply in the country.
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Power: 330/132/33KV Akure Transmission Substation Ready – TCN
Transmission Company of Nigeria (TCN) has announced the completion of the 330kV Akure Transmission Substation in Ondo State. The company also said it is accelerating efforts to complete the 330kV transmission line that would supply power…
Asset Information Service Expands Energy Sector Digital Services in Nigeria, Others
Global digital services leader, Asset Information Services (AIS), a James Fisher company, has announced its business development and account management expansion plans, with new hires in key global regions, including Nigeria, for its…
Geometric Power Flags of Campaign Against Power Theft in Aba
Foremost integrated power company, Geometric Power Ltd, has launched a public enlightenment campaign highlighting the dangers of illegal sale and consumption of electric power in Aba and the environs.
This is against the backdrop of…
TCN says Vandalized Transmission Tower in Uyo is Restored
The Transmission Company of Nigeria has confirmed that reconstruction work on the vandalized transmission Tower Number 104 on Odukpani - Ikot Ekpene 330kV double-circuit transmission line in Akwa Ibom has been completed.
In a statement…
EU Plan to Abandon Russian Gas May Cost $214bn More
The European Union may have to contend with the cost of $214billion if it goes on with the threat to abandon its reliance on Russian gas.
As the European Union (EU) to tighten sanctions against rampaging Russia, the bloc announced the…
UN to Commit $600bn to Electrification and Clean Energy in Nigeria, others by 2025
The United Nations (UN) has announced a new plan to catalyze the mobilization of $600billion for the electrification, and access to clean cooking, in developing countries by 2025.
Working under the Energy Compact Action Network, the…
No New Tariff Increase – NERC
Nigerian Electricity Regulatory Commission (NERC) has denied reports that it has approved a new regime of electricity price tariff.
The Commission also described as wrong the insinuations that it hid the reported increase in power…
REPP Connects More Over 1million People to Clean Electricity in Africa
UK-funded Renewable Energy Performance Platform (REPP) has said that it has just achieved a milestone, connecting more than one million people in Sub-Saharan Africa to electricity for the first time. REPP is managed by Camco Clean Energy.
…
Aba Power Project Moves Against Oil Sector Infrastructure Vandals, Electricity Thieves
The Aba Power Project, a member of Geometric Power group, has taken the bull by the horn with a public campaign against pipeline and infrastructure vandals, as well as potential oil thieves.
Billed for commissioning in August 2022, the…
Revealed: How NERC Secretly Increased Electricity Tariff Without Informing Customers
It has been revealed last weekend that the Nigerian Electricity Regulatory Commission (NERC) secretly approved for six of the 11 electricity distribution companies (Discos) operating in Nigeria the approval to increase tariff rates,…
COVID-19 May Plunge Millions of Africans into Deeper Energy Crisis – UNDP
The United Nations Development Programme (UNDP) has said that over 100 million Africans, who afforded sustainable energy before the COVID-19 outbreak, are most likely going to return to unsustainable resources.
The global body said…
NIDF Refinances Starsight Energy’s N8bn Debt
Chapel Hill Denham Nigeria Infrastructure Debt Fund (NDIF) has entered into a long term agreement to refinance Starsight Energy’s debt over 10 years to the tune of N8billion ($20 million).
Backed by private equity firms, Helios…
Nigerian Power Firms Owe Banks N861.14bn, Amidst Worsening Electricity Supply
The Central Bank of Nigeria (CBN) has affirmed that the total debt owed Nigerian banks by power sector operators has risen by 12.83% in one year to N861.14billion as at the end of 2021.
In November 2013, Nigeria subjected its power…
Accessible Funding Imminent As EU Proposes Gas As ‘Green Energy’
...........Proven reserves worth $803.4trn
With the proposed designation of gas as ‘green energy’ by the European Union (EU), Nigeria would have great chances at accessing the needed funding to boost gas production to meet domestic and…
Revised Energy Policy, Energy Master Plan will Revamp Energy Sector – Minister
Nigerian minister of science, technology and innovation, Ogbonnaya Onu, has said that the 2022 Revised National Energy Policy (NEP) and National Energy Master Plan (NEMP) will revamp the nation’s energy sector.
Onu while speaking with…
Nigeria: PENGASSAN Calls for Fossil to Renewable Energy Transition Policy
One of Nigeria’s oil sector unions, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked the federal government to produce an energy transition policy that will keep the country in contention, given the…
Okra Solar to Light Underserved Markets with Renewable Energy
Okra Solar, a Sydney-based company that creates hardware and software solutions designed to bring solar-based power to developing markets, has announced its new round of $2.1 million renewable energy startup project.
The energy firm is…
Nigeria Engages New Contracts to Resuscitate Ailing Power Sector
Nigeria may have decided to use additional contracts to boost the deteriorating power situation in Nigeria. The contracts were basically for the purchase of major electricity transmission equipment.
Last week, the Federal Executive…
Westa Solar Secures £1.5m Loan to Expand Solar Projects in Nigeria
Solar energy provider, Westa Solar, has announced the expansion of its business in Nigeria with a mezzanine debt of €1.5million facilitated by the African and Austrian Investment Fund for SMEs (AAIF).
The company is a joint venture…