Power Sector And Other Related News Stories For Wednesday 23rd November 2022
Edo seeks $10b investment to boost electricity supply
The Edo State government has projected to attract an additional $10 billion in domestic and foreign investment for improved power supply in the state.
The state has already attracted $2 billion in investment, mostly in the agricultural sector, expected to create many multiplier effects, including enhancing food production, supplying raw materials to industries, and creating additional employment opportunities.
But reacting to the latest nomination of the State as the Best State Government at the Nigeria Power Sector Awards, the Senior Special Assistant, SSA, to the Governor on Electricity, Mr. Osasumwen Arigbe-Osula, said the Mr. Godwin Obaseki-led administration has taken bold steps to boost electricity in the state.
Sanwo-Olu seeks state govts input in Electricity Bill
Gov. Babajide Sanwo-Olu of Lagos State has appealed to the House of Representatives to allow input of state governments in the Electricity Bill 2022.
Sanwo-Olu said that allowing input of state governments in the Electricity Bill 2022 would unbundle knotty issues surrounding generation, transmission and distribution of power in Nigeria.
He made the appeal on Tuesday at Lagos House, Ikeja, during the handover ceremony to celebrate the completion of the Lagos State Integrated Resource Plan (IRP) to bolster the overall energy security for residents.
High Voltage Cables Market to value USD 34.5 Billion by 2030: Global Market Insights Inc
The high voltage cables market is expected to record a valuation of USD 34.5 billion by 2030, according to a new research report by Global Market Insights Inc. Rising peak load demand across major world economies will stimulate demand for high voltage cables. This growth is attributed to the increasing investments focused on establishing a sustainable electrical network to aid the ever-growing demand for electricity and the implementation of a favorable regulatory framework regarding the electrification of off-grid rural areas.
Ikeja Electric Cautions Against Damages To Electricity Infrastructure, Reckless Driving
Ikeja Electric Plc has cautioned commuters against reckless driving occasioning damage to its electricity assets; which consequently leads to total blackout in some communities within its network.
Engr Jamiu Badmos, the Head of Quality, Health and Safety Environment, Ikeja Electric, made the statement as a result of the incessant collision of vehicles with electricity poles and other electrical facilities in Ikeja Electric network.
He lamented that collusion with electricity poles and transformers by reckless commuters has become a daily incidence, stating that such commuters stand the risk of electrocution as the pole and lines can collapse on their vehicles, especially energized wires that may occasion fire outbreak and loss of life.
Nigeria Power Sector Awards announces nominees for 2022
THE Nigeria Power Sector Awards, a premier and most prestigious premier event instituted to celebrate organizations and individuals, who have contributed to improvements, growth, innovation, and progress in the Nigeria Electricity Supply Industry (NESI) has announced nominees for 2022.
This was even as Nigeria Power Sector Awards, has concluded plans to present individual awards, targeted at recognizing and celebrating a few individuals for their immense contributions and achievements, including a Posthumous Award to the late Engr. Joseph Oyeyani Makoju, former chief executive officer, of the defunct National Electric Power Authority, NEPA, and Special Adviser on Power to three presidents; Leadership and Excellence Award in the Power Sector to Engr. Ahmad Zakari, the Special Adviser to the President on Infrastructure, and Trailblazer Award in the Power Sector will be presented to the Min of Power, Minister of Power, Mr. Abubakar Aliyu.
Power supply: FG solve challenges depriving Nigerians reliable, sustainable electricity Aliyu, NEMSA boss
This was disclosed by the Managing Director, Nigerian Electricity Management Services Agency (NEMSA), Tahir Aliyu, during a meeting with the management of Ibadan Electricity Distribution Company (IBEDC), held at Capital Building, Adeoyo Junction, Moshood Abiola Way (Ring Road), Ibadan on Tuesday.
He was accompanies by a special task force set up by the Federal Ministry of Power that would spend one week within distribution area to know the constituents between the Transmission Company of Nigeria (TCN) and IBEDC. The delegation was officially received by the Managing Director of IBEDC, Kingsley Achife. The taskforce also inspected the facilities at the TCN, Ayede Sub Region, Ibadan on Tuesday.
We’re committed to overcoming electricity transmission challenges TCN
The Governing Board of Transmission Company of Nigeria (TCN) on Tuesday said the company was more prepared to meeting the challenges of electricity transmission in the country.
Mr Ekere Nsima, the Chairman, Technical and Monitoring Committee of TCN, said this in Lagos, in continuation of visits to transmission substations in Lagos by members of the Board of the company.
â€œWe are developing our capacity so that we can respond timelessly and efficiently to issues of maintenance.
â€œTCN is improving its transmission capacity, and its ability to maintain in a professional manner, its facilities and equipment in our store in Lagos.
The Nigeria Rural Electrification Agency (REA) and CarbonAi Sign MOU to Develop Rural Solar Energy Projects
CALGARY, Alberta & ABUJA, Nigeria–(BUSINESS WIRE)–CarbonAi Inc. (CarbonAi) is proud to announce that it has signed a memorandum of understanding (MOU) with the Rural Electrification Agency (REA) of Nigeria to identify and develop small-scale solar energy projects in that country. The projects will be funded by proceeds from carbon credits that are generated through CarbonAi-financed and developed flare gas capture projects in Nigeria.
Under the MOU, the parties will explore opportunities to finance and develop solar energy projects in unserved or underserved communities near CarbonA flare gas capture projects in Nigeria. The REA will apply its knowledge of Nigeria rural electrification requirements and programs to identify appropriate project opportunities and liaise with local communities.
FG sues property developer over N11m electricity theft
The Federal Government has dragged a property developer, Cecil Osakwe before the Federal High Court, Abuja, over alleged N11 million electricity theft.
In the suit, the federal government accused Osakwe of tampering with electricity meters which resulted in the loss of N11 million revenue.
Osakwe was said to have been caught by the officials of Abuja Electricity Distribution Company (AEDC) allegedly stealing electricity at various properties including his residence, 11 Aso drive, Abuja.
According to AEDC officials, the scale of electricity theft by Osakwe at a number of other properties managed by him is still under investigation.
Ireland to Cap Revenues Made by Wind and Solar Power Generators
The Irish Government has announced it will introduce a ‚£120 per MWh cap on revenues made by wind and solar power generators.
Ministers said the cap â€œtakes into account the revenues generators would have expected to earn before the increase in gas prices, which was less than ‚£100 per MWh, and the limited increase in costs incurred by these generators.
Ireland energy department has said that the excess revenue will be used to support energy customers.
Ireland Minister for Climate, Environment and Communications, Eamon Ryan, stated: The Russian invasion of Ukraine has led to unprecedented increases in wholesale natural gas prices, impacting the prices paid by consumers, but also leading to windfall gains in some areas of the energy sector.
Kenya Ranked Top in the Use of Renewable and Clean Energy
Kenya is leading in using renewable and clean energy in the Horn of Africa, helping mitigate the effects of climate change.
A report by the International Energy Agency (IEA) themed Clean Energy Transitions in the Greater Horn of Africa revealed that Kenya has made massive investments in renewable and clean energy among the eight countries surveyed. In the process, it has helped reduce carbon emissions and other harmful gasses. The report says energy consumption in the region has grown at the rate of three per cent annually over the last decade even though the region has remained energy-deprived.
The main goal has been to ensure it produces clean energy that is affordable to all. The IEA supports evidence-based energy policy-making in Africa, intending to achieve affordable and clean energy in line with United Nations Sustainable Development Goal (SDG) 7.
Swell Energy Raises $120M for Virtual Plant in USA
Swell Energy said it raised $120 million to further its virtual power plant (VPP) programs. The round was led by SoftBank Vision Fund 2 and Greenbacker Development Opportunities Fund I, LP, with participation from an Ares Infrastructure Opportunities fund and Ontario Power Generation Pension Fund.
The funding is expected to support Swell development of 600 MWh of VPPs through the deployment and aggregation of 26,000 energy storage systems. The VPPs aim to provide grid service capabilities through projects in utility territories across Hawaii, California, and New York.