The global wind and solar power capacity has reached 1 TW at the end of June and is expected to double by the middle of 2023, Bloomberg New Energy Finance (BNEF) said last week. The 1,013 GW of currently installed capacity is almost equally divided between wind and solar, with 54% coming from wind parks…
Schneider Electric, the foremost innovator and specialist in energy management solutions has re-affirmed its commitment to providing the industry with digital solutions for businesses that are guaranteed to enhance profitability and optimise costs. This was made known by the Oil and Gas Segment Lead, Schneider Electric, Mrs Tolulope Falola, during the Society for Petroleum Engineers/Nigerian Annual…
The Transmission Company of Nigeria (TCN) has unveiled plans to build 6 new substations of 330KVA each to boost power supply to Lagos and Ogun States to further enhance the industrial prospects of the area believed to be the industrial hub of the country. The managing director/chief executive officer, TCN, Mr. Usman Mohammad disclosed this…
Nigeria’s current power generation has reached 7000 Mega Watts, the Minister of Power, Works and Housing, Mr Babatunde Fashola, has said. Fashola said this on Friday in Calabar at the Federal Ministry of Power, Works and Housing 4th Edition Retreat for top directors, heads of units and chief executives of agencies and parastatals. He said…
For electricity consumers in the Benin Electricity Distribution Company (BEDC) zone, the bad old days of outrageous estimated billings as a result of nonavailability of metres will soon be a thing of the past as the company has placed the order for about 175,000 metres. Besides, over 35,000 meters are presently in its warehouse, awaiting…
The Chief Executive Officer of Transcorp Power Limited, Kalyana Sundaram said beyond the oil and gas strategy, the company has repositioned the power business to deliver a sustained increase in available and generated capacity in Nigeria. According to him, the power business would continue to consistently lead the power generation sector in Nigeria, in terms…
Almost five years after core investors put $1.2 billion (about N427bn) to acquire 60% stakes in 11 electricity Distribution Companies (DisCos) in 2013, they said they are yet to recover the investments or make profit from the defunct PHCN assets. The investors disclosed this on Tuesday in Abuja at a joint briefing by the Association…
The disagreement between the Federal Government and power distribution companies continued on Tuesday, with the Discos threatening to quit the sector and expressed willingness to resell the power assets at discounted rates. Investors in the Discos came out this time around to speak for their companies rather than sending the spokesperson for the Association of…
The Minister of Power, Works and Housing, Mr Babatunde Fashola, has called on state governors to support access to electricity through improved power infrastructure in their states. Speaking at the opening session of NACOP, the minister said, “It is no longer news that the Distribution Companies (DisCos) are having difficulty funding distribution infrastructures. Therefore, as…
Nigeria’s renewable energy segment has recorded $200million worth of equity investments, Stanbic IBTC Bank’s Head, Power & Infrastructure, Mr Abiodun Oni, has said. He said the capital is small in view of the investment gap in the off-grid sub-sector of the electricity industry. According to him, more private investments are coming to the sector to…
