Power Sector And Other Related News Stories For Wednesday 18th January 2023

Posted by News Room January 18, 2023

Jos DisCo Decries N100bn Debts, Introduces Debt Discount Promo 

The management of Jos Electricity Distribution Plc (JED) has disclosed that its customers owed the company to the tune of N100 billion.

The company Managing Director, Mr. Mohammed Abdu, who disclosed this at a media interactive session over the weekend in Jos, called customers owing the company to clear their debts, adding that such a move would enable it to provide quality services to the people.

According to him, the huge debts necessitated the introduction of a debt discount promo to encourage them to clear their debts.


Nigerians Likely to Experience More Black Outs as Power Generation Falls to 2,200MW 

Nigerians are likely to experience more black out as power generation dropped on Tuesday at 14:00 hours from 3,553MW to 2,200MW.

Naija News gathered that in a document from the Independent System Operator of the Transmission Company of Nigeria (TCN) titled: â€œList of GenCos and their MW Load at 14:00hours on 17/01/2023” 10 out of 24 power plants generated the 2,200MW.

The drop as learnt by this platform means the energy production of the Nigeria Electricity Supply Industry (NESI) was reduced by 1,253MW, which translates to 35.26% decrease.


Liquidity Crunch Threatens Federal Govt 6m Mass Metering Deployment 

There are strong indications that the first and second phases of the National Mass Metering Programme (NMMP) of the federal government have been derailed as paucity of funds threatens its execution, LEADERSHIP has learnt.

Equally, indigenous meter assemblers and producers are at a crossroads following the inability of power distribution companies (DisCos) to procure meters, thus threatening sustenance of its 30 million yearly meter production capacity.


USAID Calls for $20M Regional Energy Investment Project 

The US Agency for International Development (USAID) has invited potential applicants to submit preliminary information on projects to be included in its regional project called Investment in Energy. USAID project aims to support technically, commercially, and environmentally sustainable projects and help find investors or financial institutions to fund them. The invitation issued by USAID is to consider potential projects for pre-feasibility and feasibility studies. In contrast, projects for further assessment will be selected through a public call for applications. Initial information will be sent to energyinvestmentDIR@bv.com or energyinvest@bv.com by February 10, 2023.


Wind Power Generation Saves‚£2 billion for Irish Customers 

Ireland wind power generation reached new highs last year as Irish wind farms provided almost 34% of the country electricity, up four points in 2021.

A report released by energy specialists suggested that without this type of renewable energy, Ireland would have had to spend an additional £1.65 billion (£1.4bn) on gas for power generation in 2022 and an extra £40 million (£300m) on carbon credits to produce electricity by burning that gas.

Experts added that on a single day sometime around the first quarter of 2022, the combination of high winds and soaring gas prices delivered a total avoided cost of ‚£43 million (£38m) in just 24 hours.


Ivory Coast Signs 25 Years PPA for 50MW Solar Energy Plant 

The Government of Ivory Coast has signed a concession agreement and 25-year Power Purchase Agreement (PPA) with AMEA Power, based in the Middle East, for a 50MW solar PV project in the country.

The signing ceremony took place on the sidelines of Abu Dhabi Sustainability Week in the presence of Tiemoko Meyliet Kone Vice President of Ivory Coast. The concession agreement was signed by Mamadou Sangafowa-Coulibaly, Minister of Mines, Petroleum and Energy of the Ivory Coast and Hussain Al Nowais, Chairman of AMEA Power.

The project will be the first solar Independent Power Project (IPP) in Ivory Coast. It will be located in the city of Bondoukou in the northeastern region of Gontougo, located 420 km northeast of Abidjan.


Seplat Energy Loses N18bn Market Value 

Seplat Energy Plc share price declined by 3.03% to close at N960 per share at the end of a recent trading session, bringing the market value to N564.91 billion. The value of the petroleum energy company dropped by 303 basis points due to the reduction in share prices, which may be linked to investors’ unfavourable mood.

As a result of sell pressure in the company shares, the company market capitalization decreased by N17.65 billion at the end of trading on the Nigerian stock exchange. The shares of the quoted company declined from N990.00 per share at the start of the trading day to N960.00 per share, the lowest price traded at the close of the market, to represent a decline of 3.03%, which in monetary terms is N0.30.


KarmSolar Secures $3m for 3.4MWp Solar Project in Farafra 

Farafra Solar Grid from KarmSolar has gotten $3 million in funding. The HSBC Egyptian affiliate, a British financial institution, provides this loan. This funding will make it possible to build a 3.4 MWp solar photovoltaic power plant, the first phase of the Farafra Solar Grid. The battery storage system will be 4 MWh/1 MW connected to the facility.

A 3.7 MVA diesel generator will also be used to power the grid. Launching the Farafra solar grid helps us achieve our goal of extending affordable and reliable solar energy to relatively inaccessible areas of the country. It is very refreshing to see institutions like HSBC willing to focus their efforts and confidence on investing in unconventional projects like the Farafra Solar Grid, says Ahmed Zahran, KarmSolar co-founder and CEO


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