Power Sector And Other Related News Story For Wednesday 2nd November 2022

Posted by News Room November 2, 2022

ECOWAS reaffirms commitment to sustainable energy 

Mr Francis Simpore, Executive Director, ECREE made this known on Tuesday in Abuja, during the closing ceremony of the seventh edition of ECOWAS Sustainable Energy Forum (ESEF) 2022.

The News Agency of Nigeria (NAN) reports that the 7th Edition of the Forum (ESEF2022) by ECREEE is organized in collaboration with Nigeria Ministry of Power.

NAN also reports that the eighth edition of the Forum ESEF 2023 will be hosted in Cape Verde.

The director said the agency is reaffirming its commitment to ensure the sustainability of renewable energy by bringing together key stakeholders in the energy sector to discuss and proffer solutions to the energy challenges in member states.


Stakeholders canvass retooling of Eligible Customer Policy as 9,000MW power remains stranded 

Five years after the Federal Government introduced an eligible customer policy to address the dismal state of electricity supply in the country, stakeholders have insisted that the policy remained a mirage amid repeated grid collapse and load rejection.

Considering infrastructure bottlenecks to wheel electricity to consumers, energy stakeholders tasked the Nigerian Electricity Regulatory Commission (NERC) to hasten approval process and strengthen the policy to improve power supply across the country.

The stakeholders are also worried over stranded electricity, as over 9,000 megawatts installed capacity is not evacuated due to transmission and distribution bottlenecks.


Africa Needs $40bn Annual Grid Investments for Stable Electricity, Says Adesina 

African countries will require an average of $40 billion power grid investments annually for about five years to deliver stable electricity to citizens on the continent, the Group Managing Director, Sahara Power Group, Kola Adesina, has said.

Making the assertion while delivering a keynote address on ‘The Future of Power in Africa’ at the Lagos Business School, according to a statement by the Head, Corporate Communications, Sahara Group Limited, Mr. Bethel Obioma, Adesina said projections indicate an increase in energy demand across Africa in the coming years.


IBEDC moves to end estimated billing 

The Ibadan Electricity Distribution Company (IBEDC), has expressed its determination to close the metering gap and end estimated billing within its franchise area.

The Lead Media Relations of power company, Mrs Busolami Tunwase, stated this in Ibadan yesterday, during a roadshow of the IBEDC mobile map initiative.

She stated that the company had been to places like Ibadan, Ogun and Osun States and would not relent until its customers have meters.


Eight Nigerian Clean-Energy Start-Ups Get $80,000 Grant Funding 

Eight Nigerian Clean-Energy start-ups will get 80,000 Grant Funding from All On, through its venture-building platform, the All On Hub. This is in partnership with the Nigeria Climate Innovation Centre (NCIC), after they became winners of the 2022 edition of the annual incubation programme for early-stage renewable energy entrepreneurs.

They include: Retile, Let It Cold, Energy Assured, Nutrideen Agriculture Concepts, Danwawo Group, Swift Tranzact, Solaris Greentech Hub and Powerbox Energy Systems.

The incubation programme, which started training new cohorts in May 2022, aims to reduce Nigeria energy-access gap by building a pipeline of early-stage renewable energy enterprises with the potential to scale.


Epileptic Power Supply: We must redesign funding strategies  Experts 

EXPERTS in power sector have canvassed the need to redesign the funding strategies on the nation electricity market and make it more accessible in order to improve the power problems.

The experts also advised that project financing should be long-term based on demand and supply.

The Nigeria electricity market has been experiencing a severe liquidity crisis. Across the electricity value chain, the rising debt profile and liquidity crisis have hampered new investments in the sector. In addition, several other factors, such as the absence of cost-reflective tariffs and huge metering gaps, have contributed to the lack of adequate financial investments in the sector.


PHED, Firm Deepen Partnership For Steady Power Supply 

The Port Harcourt Electricity Distribution Company (PHED) says it has strengthened its partnership with global energy firm, First Independent Power Limited (FIPL), to provide steady electricity to customers in four states.The states are Akwa Ibom, Bayelsa, Cross River and Rivers.PHED Managing Director, Dr Benson Uwheru, was speaking at the end of his meeting with officials of FIPL at the company headquarters in Port Harcourt yesterday.According to him, the deepening of its partnership with FIPL was targeted to consolidate on the gains achieved between both companies in the distribution of electricity to users.


Nigeria invites bids for Zungeru hydropower plant concession 

he Nigerian government is inviting investors to bid for the concession of the 700 megawatts-capacity Zungeru hydropower plant in Niger State.

The Bureau of Public Enterprise says it is looking for a competent concessionaire to operate, manage and maintain the hydropower plant for 30 years.

The bidding process has two stages, the qualification stage and the bid stage, the BPE said in a document published on its website.

The country privatization agency has set November 24 as deadline for the Request for Qualification.


RE Contributes 68.7% to Power in Australia 

On Friday, renewable energy generation contributed two-thirds of power to Australia main grid. At 12.30 pm, the milestone was set to a contribution of 68.7% or 18,882MW from renewable sources. Renewable penetration rates measured in 30-minute intervals illustrate contributions to the grid within a short period. In July, the International Renewable Energy Agency (Irena) report showed that Australia was now among the world leaders in cheap solar energy. The average cost of electricity from utility-scale solar has dropped by 90% in Australia since 2010. This represents a 21% year-on-year drop in price.


Osona Village In Namibia Tackles Power Supply 

Rapid population growth at Osona Village near Okahandja necessitated the upgrade of the power grid from 1MVA to 2MVA. The residential and commercial property area has over 8,000 residents and more than 1,600 housing units. The residential village is constructing 500 additional houses, which are expected to be completed within the next six months.

The inauguration for the power upgrade took place last week, where it was stated that the electricity improvement is also in anticipation of the development of more residential and commercial properties.


GEAPP Launch Scaling Renewables In Malawi For Universal Energy Access 

Global Energy Alliance for People and Planet (GEAPP) has launched the Scaling Renewables in Malawi to help Malawi achieve universal access by 2030. The programme will support Malawi goals to increase electricity access from 18% to 100% and improve energy security and reliability.

President Lazarus McCarthy Chakwera said Malawi is proud to join the GEAPP and reaffirm its commitment to ensuring everyone has equitable access to reliable, affordable energy. He said, “Together, our work across the clean energy ecosystem: supporting utility-scale clean energy storage, building decentralised renewable energy to increase agricultural productivity, and developing integrated energy planning, will help transform our country economic development.


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