Category: Power
Power finance: Electricity sector in turmoil —Penny Herbst
Penny Herbst is the Strategy Director at Africa GreenCo. She is also a moderator of a session on financing renewable projects, during the Energy Revolution Africa conference session at the forthcoming African Utility Week and POWERGEN Africa in Cape Town in May. In this exclusive interview, she speaks on challenges of power finance. Excerpts Eskom’s…
We ‘ll support AfDB’s $10bn power initiative in Nigeria, says UN
Damilola Shittu – Abuja The United Nations has thrown its weight behind the quest of the African Development Bank to provide electricity to 250 million people in Africa through its ‘Desert to Power’ electricity initiative. A statement made available to our correspondent in Abuja on Wednesday revealed that the United Nations Secretary-General, António Guterres, threw…
Transcorp Consortium wins bid for Afam Power Plc
Damilola Shittu – Abuja Transcorp Power Consortium has emerged the bid winner for Afam Power Plc. The consortium submitted a bid of N105.3 billion to beat two other companies that wanted to acquire the electricity generation company (100 percent equity). Similarly, Quest Electricity won the bid for 60 per cent equity in Yola Electricity Distribution…
FG, investors open financial bids for Afam Power, Yola Disco
By Oke Peter The Federal Government has invited four firms for financial bids opening for Afam Power Plc, an electricity generation company, and Yola Electricity Distribution Company in Abuja on Tuesday (today). Three firms – Diamond Stripes Consortium, Transcorp Power Consortium and Unicorn Consortium – are expected to slug it out in the bid to…
Gas leakage responsible for shutdown of four power plants, says TCN
THE Transmission Company of Nigeria (TCN) at the weekend, disclosed that a leakage on the Escravos-Lagos gas Pipeline had led to the shutdown of four power generating plants last Wednesday. As a result, it said power generated to the national grid reduced due to emergency maintenance conducted by the Nigerian Gas Company (NGC) on the…
Morocco’s energy sector investments exceed US$13bn
Moroccan minister for energy, mines and sustainable development, Aziz Rabbah, has announced that the amount of investments in the country has exceeded US$13.7 billion. He noted that in selecting projects, the government has adopted a ‘national preference’ approach. Speaking at a press conference on energy and sustainable development, Rabbah stressed that Morocco has made notable…
Nigeria loses $29.3bn yearly to erratic power supply —GenCos
Damilola Shittu – Abuja The Electricity Generation Companies (GenCos) at the weekend said the country loses $29.3 billion yearly to low supply resulting from load shedding and inadequate facilities. The Executive Secretary, Association of Power Generation Companies (APGC), Joy Ogaji, in an emailed response to questions, urged the Transmission Company of Nigeria (TCN) to upgrade…
US gives boost to Korea’s $1bn electricity project in Africa
The United States government has further shown commitment towards the Republic of Korea’s $1 billion contribution to boost electricity supply to African countries, as a way of ensuring that the dream to light up the African subregion becomes a reality. An indication to this emerged on Wednesday in Washington, during an ongoing United States/Korea reporting…
Sensational reporting affecting power sector investment —NBET boss
Damilola Shittu – Abuja The Managing Director / CEO of Nigeria Bulk Electricity Trading Plc (NBET), Marilyn Amobi, has charged journalists to ensure responsible and balanced reportage of the power sector in order to grow the industry. Amobi who made this know in Abuja, while receiving the executives of the Nigeria Union of Journalists (NUJ)…
TCN begins construction of $170m ‘Abuja Feeding Scheme’
The Transmission Company of Nigeria (TCN) has disclosed that it has begun the execution of the $170m power transmission project called the ‘Abuja Feeding Scheme’. The revelations were made by the Managing Director of TCN, Mr. Usman Mohammed during the ground breaking ceremony for the projects in Abuja. “The main purpose of this project is…