Category: Power
Solar Impulse Foundation, European Investment Bank sign MoU on financing strategy
The Solar Impulse Foundation and the European Investment Bank (EIB) have signed a landmark agreement for the provision of financial advisory services to innovative environmental solutions part of the #1000Solutions portfolio. The advisory process, which helps companies structure their financing strategy, could ultimately lead them to access the EIB’s products, such as venture debt facilities…
Electricity crisis: FG meets power firms •Says German govt to assist with distribution projects
By Oke Peter In its determination to put an end to the electricity problem in Nigeria, the Presidency has met with electricity distribution companies in a bid to resolve some of the issues affecting the electricity supply industry, our correspondent has learnt. It was gathered that the Chief of Staff to the President, Mr Abba…
Muhammadu Buhari’s challenge to keep Nigeria’s lights on
Africa’s biggest economy has been crippled by its woeful power supply Babatunde Fashola’s office was buzzing like so many Nigerian workplaces, humming and whirring as diesel generators and batteries clicked on when the power cut out. That he is Nigeria’s power minister was an irony not lost on him. The fact that even the Power,…
How Nigeria can raise $400bn to fix the power sector —Badipe, Nigerian nuclear scientist
Otunba Segun Badipe is a Nigerian nuclear medical scientist based in the United States. He is also a health administrator and a public affairs analyst. With over 36 years’ practice in private and public health care management, Badipe speaks, among other things, on issues that border on Nigeria with a Diaspora perspective. Having been a…
Technical committee approves N124.3bn bids for Afam, Yola Disco
Damilola Shittu – Abuja The Technical Committee of the National Council on Privatisation (NCP) has approved N124.3 billion bids for Afam Power Plc and Yola Electricity Distribution Company, the investigation has shown. At the financial bids opening for the two power companies in April, Transcorp Power Consortium emerged the bid winner for 100 percent equity…
Ethiopia secures grant to roll out hydropower projects
The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has recently approved a $995,000 grant to support the roll-out of a sustainable procurement framework for Independent Power Producers (IPPs) in Ethiopia. The SEFA grant is aimed at encouraging private investments into hydropower projects through Ethiopia’s Renewable Energy Programme. It will strengthen…
Ikeja Electric reiterates commitment to safety of staff
One of Nigeria’s leading Electricity Distribution Companies, Ikeja Electric Plc (IE), has reiterated the commitment of the company to the safety of its staff across its network area. The firm’s Head of Corporate Communications, Mr Felix Ofulue, gave the assurance in a statement in Lagos. He said the company was aware of the wave of…
Ethiopia begins rationing electricity for homes, industries
Agency Report Ethiopia has started to ration electricity for domestic and industrial customers after a drop in water levels in hydroelectric dams led to a production deficit. Ethiopia’s minister for water and electricity Seleshi Bekele said that the drop in water levels at the country’s Gibe 3 dam led to a deficit of 476 megawatts…
Go to Cotonou and look at their distribution networks, TCN boss tells Discos
Damilola Shittu – Abuja Nigeria supplies about 80 per cent of the total quantum of electricity consumed in the Republic of Benin but power is more stable in the neighbouring country than it is in Nigeria, the Transmission Company of Nigeria (TCN) has said. Aside from the Republic of Benin, Nigeria, through the TCN, supplies…
NERC has power to revoke licenses of non-performing DisCos —Fashola
Damilola Shittu – Abuja The Minister of Power, Works and Housing, Mr Babatunde Fashola says the power to revoke licenses of non-performing electricity Distribution Companies is vested in the Nigerian Electricity Regulatory Commission (NERC). Fashola said this on Thursday in Abuja at the 2019 Punuka Annual Lecture with the theme: “Rethinking the Model for an…