Power Sector News And Other Related Stories For Friday 15th July 2022

Posted by News Room July 15, 2022

Takeover of BEDC: Lawyers Commence Contempt Proceedings Against Defaulters

Legal advisers to Vigeo Power Limited, majority shareholders of Benin Electricity Distribution Company Plc, BEDC, have commenced contempt proceedings against defaulters for illegal takeover of the company.

The law firm of Kunle Adegoke, SAN, lawyers to Vigeo Power Ltd, said the contempt proceedings has become imperative because the attention of its client had been drawn to a publication by the Bureau of Public Enterprises, BPE, on July 13, 2022, in which it laboured unsuccessfully to justify its attempts at illegally taking over the BEDC Electricity Plc, despite the orders by a Federal High Court, Abuja, on July 8, 2022, in suit between Vigeo Power Limited v. Fidelity Bank Plc & 7 Ors.

“It is on record that the total shareholding of the BPE and the Ministry of Finance in BEDC is just 40 percent, making the two of them minority shareholders which pales into insignificance in the face of the 60 percent shareholding held by Vigeo Power Limited, our client.



DisCos: NCP Enlightens Public on FG’s Restructuring

The National Council on Privatisation (NCP) says it is necessary to inform the public about measures taken by the Federal Government concerning the board of various DISCOs across the country.

The Director-General, Bureau of Public Enterprises (BPE), Mr Alex Okoh, said this in a statement in Abuja on Wednesday.

The News Agency of Nigeria(NAN) reports that on July 5, BPE and the Nigerian Electricity Regulatory Commission informed the public of the restructuring of the boards of Kano, Benin and Kaduna DISCOs.

This was done following the collateralised shares of the DISCOs by the lenders which included Afreximbank, Keystone Bank, Stanbic IBTC, as well as Fidelity Bank.

Okoh said the attention of the NCP had been drawn to an Interim Order of the Federal High Court dated July 8.

He said this was in respect of a suit between Vigeo Power Limited and Fidelity Bank Plc and seven others over the board composition of Benin Electricity Distribution Company (BEDC).

“Following this unfortunate development, it has become imperative for the council to educate the staff of BEDC and the public, particularly those within the BEDC franchise area comprising Edo, Delta, Ondo and Ekiti states.



Former Bank Director, Henry Ajagbawa, Others Allegedly Disobey Court Order, Illegally Break into Benin Electricity Distribution Company Premises

former Bank Executive Director, Henry Ajagbawa, and board members of the Benin Electricity Distribution Company (BEDC) on Wednesday allegedly broke into the premises of the company in Benin, Edo State capital, despite a subsisting court order restraining them from “any unlawful occupation.”

The board members were identified as K.C. Akuma, Adeola Ijose, Charles Onwera and Yomi Adeyemi, who were recently appointed to the board of the company.

A Federal High Court in Abuja had during the week issued an order restraining Fidelity Bank Plc and other co-defendants from taking over BEDC, pending the hearing and determination of the motion on notice dated July 8, 2022.

The other defendants are the Nigerian Electricity Regulatory Commission (NERC) and Corporate Affairs Commission (CAC).

Those affected by the order include the Bureau of Public Enterprises (BPE) and the Nigeria Police Force (NPF).



Kano Electricity Distribution Company Appeals for Intensity of Surveillance on Their Equipments in All Communities

Kano Electricity Distribution Company has appealed to all communities in Kano state to as a matter of urgency, intensify surveillance on KEDCO equipments in all the communities to check on theft and vandalism.

KEDCO in a statement signed by its Head of Corporate Communication, Ibrahim Sani Shawai and made available to our correspodent reports on Thursday 14-07-2022, said the measure will guarantee constant and quality supply of electricity to customers.

KEDCO has therefore appealed to the public to intensify surveillance in their communities as a measure to tackle theft and the increasing cases of transformer vandalism in their areas.

Newsmen report that the distribution Company has over time been complaining of theft and vandalism, which amount to the loss of millions of Naira.

The danger of such acts is exposing the general public and even the perpetrators to disaster,” reads part of the statement.

The company however appealed to the general public to help by reporting attempts to vandalise or steal any of its equipment to its nearest offices or security outlets.

Recall that in 2020 alone, KEDCO alleged to have lost over N260m in three months to the activities of vandals in its franchise states of Kano, Katsina and Jigawa.



Solar Powered Estate Berths in Lagos

Apparently desirous of solving the challenges of poorhousing and electricity in Nigeria, Dr. Kennedy Okonkwo of Nedcomoaks Ltd and his wife Ichechi Okonkwo, CEO of Victoria Crest Homes have unveiled a solar powered estate, the Citadel View Estate (CVE) in Nigeria.

The Citadel View Estate will solve the problem of housing deficit and epileptic electricity supply through the use of solar panels. CVE will be deploying cutting-edge solar energy technology and a biogas sewage treatment system, being the first of its kind in Lagos Nigeria with a housing model focused on sustainable living. “It is being done alongside other modern technology solutions designed to elevate the living experience of its residents, such as a stealth security system, world-class recreational areas, and water treatment facility,”Okonkwo said.

In an interview with Okonkwo, she said CVE will provide 5,000 powered housing in five years which represents 1000 housing powered solar electricity every year across Africa. It is a very big feat to accomplish but we are determined to do that. We are doing that with different partners that we have signed with this particular project. We have some of them displayed on the billboard outside. We have partner that ensure that we are supplied with all the needed iron.



Guinea: $66 Million from The African Development Bank to Extend Access to Electricity

On 14 July 2022 in Abidjan, the Board of Directors of the African Development Bank Group (www.AfDB.org) approved a $66.39 million support package for Guinea. The funding is intended to help it increase access to electricity.

It consists of a $4.17 million grant and a $9.37 million loan from the African Development Fund (https://bit.ly/3uL2VBZ) (the concessional arm of the African Development Bank Group) and a $24.13 million grant and a $28.72 million loan from the Transition Support Facility (https://bit.ly/3z9MySc). The project is co-financed by the French Development Agency, the Islamic Development Bank, the Sustainable Energy Fund for Africa, hosted by the Bank, USAID, through the Africa Energy Program, and the Guinean government.

The Guinea Power Access Improvement Project will improve people’s living conditions and the productivity of beneficiary companies through access to regular, reliable and cheaper energy services, explained Léandre Bassolé, the Bank Group’s Country Manager for Guinea. “In addition to the deployment of electricity infrastructure, the project will support reform initiatives in the electricity subsector and capacity building for its stakeholders. It will also promote the productive use of electricity by providing women’s groups with equipment to increase their productivity. Lastly, public lighting will increase security and give women more time in which to conduct their commercial activities and schoolchildren opportunities to improve their academic performance,” Bassolé said.



Greece Plan 1GW Solar and Wind Capacity Tender

Greece’s energy regulator, RAE plans to hold a new joint power tender on Sept. 5 for PV and wind power. RAE aims to contract 1GW of solar capacity, with a focus on systems larger than 1MW, and wind projects above 60kW in size.

RAE has set the tender’s subscription rule at 80% applicable to wind and solar separately. This means that 180MW of solar projects will have to compete for selection for in order to award 100MW of PV capacity. This rule helps to ensure auction competitiveness the regulator says.

Also, each technology will need to secure at least 30% of the awarded capacity. This rule will help to prevent the tender being swept by mainly solar projects. Winning solar projects are expected to connect to the grid within 30 months after the auction date, while wind farms will need to be finished within 36 months.




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