Power Sector And Other Related News Stories For Wednesday March 1st 2023

Posted by News Room March 1, 2023

FG Moves to Improve Power Supply in Akwa Ibom 

The Minister of State for Power, Goddy Jedy-Agba, has on behalf of the Federal Government flagged-off a transmission project for the improvement of electricity supply at Ididep, Ibiono Local Government Area, Akwa Ibom State.The project is a construction of 2 x 30/40MVA, 123/33kv Substation with six feeders, which is projected to be completed in 18 months, starting from the date it was approved by President Muhammadu Buhari, a statement by the Director, Information/Press, Margaret Oyinboade, said.


National Grid: FG Targets 25,000MW Wheeling Capacity By 2025 

The Minister of State for Power, Prince Goddy Jedy-Agba, has said that the Federal Government is targeting to increase the wheeling capacity of the national grid to 25,000 MW by 2025.

He stated that the Federal Ministry of Power and the Transmission Company of Nigeria (TCN) embarked on the construction of a substation so as to strengthen the national grid, improve service delivery and increase capacity to supply power to the people of Akwa Ibom.


Seplat Appoints Independent Non-Executive Director 

Seplat Energy said Tuesday it has appointed Koosum Kalyan as an independent non-executive director with effect from 28 February.

Ms Kalyan is a South African businesswoman and economist whose career began in the Electricity Commission in Melbourne, Australia, the company said.

According to a statement issued by Nigeria biggest energy company by market value, Ms Kalyan subsequently joined Shell South Africa as an economist and became a member of the Shell Global Scenario Planning Team after which she embarked on her expatriate posting to Shell International London for 9 years.


Energy Cost, Others Affecting Growth in Nigeria Report 

Where energy is available in African countries, expensive, inefficient, polluting and unreliable , the latest February report of the international gas union , inpartnership with hawailti limited has stated.

It also pointed out that Nigeria and other nation on the continent were energy is poor despite the presence of abundant gas in africa


Solar to Energise 380m Africans By 2030  World Bank 

The World Bank has predicted that solar power will energise 380 million Africans by World Bank.

The bank, has therefore, urged a joint action by governments and industry to realise the full potential of solar power, which it identifies as key to bridging Africa energy gap.

The bank believes that solar mini grids can provide high-quality uninterrupted renewable electricity to underserved villages and communities across Sub-Saharan Africa and be the least-cost solution to close the energy access gap on the continent by 2030.


Europe Faces Costly Race to Refill Gas Storage. Here’s What You Need to Know About The Global Energy Transition This Week 

As Europe emerges from a mild winter with gas storage close to record levels, governments must prepare for another costly exercise to replenish reserves on the international market, experts say. European gas prices leapt to record highs when Russia cut supplies of relatively cheap pipeline gas last year.

Although European prices have eased to around £50 ($53) per megawatt hour from last August’s peak of more than £340, they remain above historic averages. This means that governments face another huge bill to refill storage sites before peak winter demand later this year.


China Advances Energy-Saving, Low-Carbon Development in 2022 

China reduced energy consumption and carbon dioxide (CO2) emissions in 2022 amid efforts to promote high-quality and green development, according to an official statistical communique published on Tuesday.

Last year, the country energy consumption per 10,000 yuan (about 1,438.46 U.S. dollars) of gross domestic product decreased by 0.1 per cent from 2021, while CO2 emissions per 10,000 yuan of GDP fell 0.8 per cent year on year.

According to the communique released on the website of the National Bureau of Statistics (NBS), China accelerated the green transformation of development while stabilising its economy in 2022.


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