The Federal Government has approved a ₦72 billion investment in the electricity investment in the Electricity Distribution Companies (DisCos) to enable them to upgrade their distribution infrastructure and boost power generation. It also appointed the Transmission Company of Nigeria (TCN) to manage the fund.
According to the managing director of TCN, Usman Mohammed, the TCN got the approval to manage the fund because it already had a comprehensive system study and plan on Nigeria’s electricity network. He also explained that the investment will stabilize the nation’s electricity grid.
GOVERNMENT, INVESTORS IN TALKS ON NEW IPP SOLAR PROJECT
The Federal Government has decided to meet prospective private investors to address issues and challenges hindering the construction of the first ever Independent Power Producer (IPP) solar project. The FG opted to take this route rather than wait for policymakers to resolve inherent risks in large-scale renewable energy development.
The government through the Energy Commission of Nigeria (ECN) and other stakeholders recently met investors in Lagos under the “Grid-Connected Renewable Energy Investor’s Forum”.
The forum, which is supported by the United Nations Development Program, was meant to create awareness among stakeholders as well as establish the current status and challenges of on-grid renewable electricity generation in Nigeria.
UWAIFO LAUNCHES BOOK ON SUSTAINABLE POWER SUPPLY, DECRIES LOAD FACTOR
Energy expert and businessman, Engr. Solomon Omorodion Uwaifo launched his book: Conversations in Electricity Utility Engineering, at the MUSON Centre, Lagos, last week Wednesday (2-08-2018).
The occasion was chaired by the chairman of NERC, Prof. James Momoh and various dignitaries were in attendance of the event anchored by Ms Ayisha Osori. While presenting the book to the public, the program organizer, Ms Josephine Igberaese, retired, Director of the National Troupe of Nigeria, reminded the audience that an intellectual property of such magnitude cannot be adequately priced.
The author, who had served in various capacities in Electric Corporation of Nigeria (ECN) before retiring to establish an engineering firm in 1974, decried the state of power supply in the country. He stated that “Yesterday, we probably would not have agreed that all three links in the chain of electric power supply are inadequate. Today, we totally agree that they are. We have almost regressed… to pre-1951 levels.”
MOST AUSTRALIANS WANT RENEWABLES TO HELP LOWER POWER PRICES
More than 70% of Australians want the government to set a high renewable target to put down pressure on power prices. This is according to a new poll. The ReachTell poll, commissioned by Greenpeace, was released on Monday as a progressive campaign group, GetUp and environmentalists stepped up pressure on the Victorian and Queensland governments to block the national energy guarantee and business groups called for it to be approved.
The federal environment minister, Josh Frydenberg, faces a difficult balancing act ahead of a meeting with states and territories to discuss the national energy guarantee, which imposes reliability and emissions reduction obligations on power retailers from 2020.