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…
By Irina Slav There are strong indications that the foremost electric vehicle maker, Tesla, will cut the prices of its solar panels by as much as 38 percent below the national average in a bid to regain ground in the solar market, the New York Times reported today, noting the official announcement will be made…
Agency Report Oil prices topped $73 on Tuesday as Venezuela’s opposition leader called on the military to back him to end Nicolas Maduro’s rule and after Saudi Arabia said a deal between producers to curb output could be extended beyond June to the end of 2019. The situation in Venezuela, an OPEC member whose oil…
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…
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…
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…
An American company, Labacorp Power Company America, has expressed interest in developing a 900MW solar project in Zimbabwe. The US-based corporate has applied to the Government, through their local partners Craft Properties (Pvt) Ltd, for the implementation of the gigantic and game-changing project. Construction Review has reported. Craft Properties (Pvt) Ltd founder chief executive, Mr…
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…
Damilola Shittu — Abuja The government of Saudi Arabia has expressed readiness to sign a memorandum of understanding with Nigeria for the revamp of Nigerian refineries and for the construction of a new one. This was revealed by the Federal Ministry of Petroleum Resources. It said based on the proposed MoU, Saudi Arabia had expressed…
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…
