Power Sector And Other Related News Stories For Tuesday 18th October 2022
FGN Has No Plan To Privatise TCN
The ministry of power has stated that there is no plan to sell the Transmission Company of Nigeria (TCN), urging the public to disregard any statement regarding a ‘non-existing’ plan to privatise the entity.
Special Adviser to the Minister of Power, Mallam Isa Sanusi, said the rebuttal was coming in response to media reports claiming that there was a plan to sell the company.
He quoted some reports as falsely claiming that privatisation would occur in the coming months.
Baffling Electricity Problems: Presidential Tales by Moonlight
The unending problems in the power sector that Nigerians have had to face in recent decades must be attributed to leadership failures and poor governance. In the international community, Nigeria is ridiculed as a country administered by a group of mindless gladiators who consistently juggle knives in the dark. At home, President Muhammadu Buhari and his ministers insist there is no reason to worry about the collapse of infrastructure and social services, including the adverse political situation and state of the economy.
Grid Collapses 98 Times Under Buhari Amid N1.52tn Bailout
Nigeria’s available power generation capacity fell by 981.8 megawatts between 2015 and August 2022 despite the over N1.51tn intervention in the sector by the Federal Government since the current administration came on board in 2015.
This came as the national grid collapsed 98 times under the regime of the President, Major General Muhammadu Buhari.
A document on Power Generation Trend (2013 – August 2022), obtained in Abuja from the Association of Power Generation Companies, the umbrella body of electricity producers, indicated that while available power generation capacity was 6,616.28MW in 2015, it dropped to 5,634.47MW as at August this year.
Revenue Growth Boosts Geregu’s Profit
Geregu Power Plc’s audited result and accounts showed an impressive increase in profit, driven by a significant increase in the company’s revenue and cost effectiveness of its operating expenses.
The newly listed energy company on the Nigerian Exchange Limited (NGX) announced its full year ended December 31, 2021 results that revealed about 42.9 per cent and 45.5 per cent increase in profit before tax and profit after tax, respectively over 32.2 per cent growth in revenue.
Nigeria Has the Highest Energy Deficit in Africa – World Bank
The senior energy specialist of the World Bank, Mr Arsh Sharma, said at the “Unlocking opportunities for clean and sustainable energy” conference in Lagos, Nigeria, that Nigeria had the most significant energy deficit on the continent, noting that over 90 million people were not connected to the national grid.
According to him, “there is no other country other than Nigeria that is having that kind of energy crisis. Nigeria has over 90 million people without access to electricity. This is the largest energy deficit in the whole of Africa. All development bank partners must come together to support the Nigerian government efforts at the federal and state levels.”
[RWANDA] SKS and EAP Launch Solar-Powered Multi-Service Centres
Solarkiosk Solutions (SKS), a company based in Berlin, Germany, and East African Power (EAP), a regional energy provider based in Kigali, Rwanda, launched The Pulse joint venture to exploit the potential of solar energy in rural areas and boost the productivity of solar energy in Rwanda.
“The Pulse” will construct solar-powered shopping malls in remote locations. This multi-service centre will have a hair salon, a movie theatre, and a retail store. Additionally, it is anticipated to offer other services crucial for rural life, such as clean cooking, electric transportation, cold storage for crop management, and access to clean water.
[Cote D’Ivoire] ADF Gives $10.5 million to Electrify 739 Localities
African Development Bank (AfDB) supports The “Electricity for All Programme” in Ivory Coast” through the African Development Fund (ADF). This pan-African financial institution provides financing of $10.53 million, comprising a loan of $8.26 million and a grant of $2.27 million. This financing is for the electrification of 739 localities, including 313 in the Mountain district in the west and 426 in the Savannah, Woroba and Zanzan districts.
SA: Mainstream Signs to Develop RE Plants
Mainstream Renewable Power has signed a lease with South African national electricity company, Eskom to build and operate renewable energy plants in South Africa. The about 1650-hectare land for the project is next to the Majuba and Tutuka coal-fired power stations in the Mpumalanga Province of South Africa.
Eskom’s goal is to make land available and close to existing power stations with sufficient grid capacity to ramp up renewable energy contribution to the national grid. The parcels of land approved have been thoroughly screened to ensure accessibility, and environmental conservation and also to avoid areas with high risk. The agreement with Mainstream is one of four similar agreements signed by Eskom that will contribute hundreds of megawatts of renewable energy to the national grid and is expected to be valid for the next 25-30 years.
AfDB Supports Mozambique to Boost RE
African Development Bank (AfDB), as part of its support towards the development of renewable energy resources in Africa, has approved a grant of $2.5 million to the Mozambican government. The grant, administered by the Bank from the Sustainable Energy Fund for Africa (SEFA), will be used to implement the Mozambique Renewable Energy Integration Program (MREP).
The Director of the African Development Bank’s Renewable Energy and Energy Efficiency Department, Dr Daniel Schroth, said “With the support of the Sustainable Energy Fund for Africa, Mozambique’s capacity to integrate larger shares of variable renewables will increase its efforts to become a major regional electricity supplier,”. He added, “Given that Mozambique is one of the most highly climate-vulnerable countries in the world, the project will help build a more sustainable and resilient power generation infrastructure”.