“What we are signing is just a binding document for us to engage with them and buy their electricity which we will then sell to the distribution companies and other general service companies which buy electricity from NBET. There is no initial payment until when they start selling based on their metered energy.”
They stated that the plant would commence commercial operations in 2021, in addition to unlocking investments in power transmission infrastructure.
“These projects can be expanded across northern Nigeria and into neighboring states like Niger; we believe that there is a crucial business for the 93 million people in Nigeria that don’t have access to the grid.”
OpeOluwani Akintayo 30 August 2017, Sweetcrude, Lagos – In line with the national policy on renewable energy and energy efficiency,…
“Currently, about 40 per cent of our production costs go into energy provision and this is not healthy for businesses, especially when we have to compete with imported products. Therefore, everything we can, we must do to ensure that we bring our cost down and one of them is the power situation,” he said.
Meanwhile, in its bid to tackle the paucity of funds in the power sector after a court litigation stalled efforts at increasing its tariff, the Ministry is now brainstorming on other ways of raising revenue for the sector.
Three years after the launch of Power Africa by President Barack Obama, the United States is on track to fulfill its initial $7 billion commitment over five years, and several departments and agencies have announced that they’ve expanded Power Africa commitments as detailed in the 2016 annual report.
Kunle Kalejaye 24 August 2016, Sweetcrude. Lagos – Gas remains Nigeria’s most reliable source of power but it is only…
According to the CEO of Scatec Solar, Mr. Raymond Carlsen, “Solar power in Nigeria has significant long-term potential, and we want to take part in the development of this new market.”
According to a statement from the consortium obtained by our correspondent in Abuja, the power generated will be equivalent to 10% of the total national generation that Nigeria currently produces.
