Alternative Energy

Microsoft initiative, Nigerian firm look to connect 10,000 SMEs to solar power

Jun 27, 2019

Global tech giant, Microsoft, through its 4Afrika initiative, has partnered with ICE Commercial Power, a Nigerian-based renewable energy provider to provide reliable solar power to 10,000 Small and Medium Enterprises (SMEs) across Nigeria for the next two years. The Chief Executive Officer, ICE Commercial Power, Emmanuel Ekwueme, who disclosed this in a statement, said the…

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Minerals sector development imperative to Nigeria’s economic diversification – PM Ministry of Mines

Jun 27, 2019

The urgent need to develop the nation’ s minerals and metals sector that would serve as catalyst in diversifying the country mono-product economy  has been re-emphasized. The Permanent Secretary, Ministry of Mines and Steel Development, Dr. Abdulkadir Mu”azu, stated this while declaring open the third phase of the second edition of the Nigeria Metallurgical Industry…

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Nigerian solar firm, Rensource receives FT, IFC commendation, award

Jun 25, 2019

Rensource Distribution Energy Limited, an Energy firm has bagged the Transformational Business Awards, also known as ‘the Oscars of the renewables’. The award was conferred on it by the International Finance Corporation and Financial Times for exceptional work on reversing the trend of power shortages in Nigeria. A statement by Ms. Adedoyin Adelakun, Head, Corporate…

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Eni/NNPC, FAO launch solar-powered water schemes in Nigeria’s North-East

Jun 24, 2019

IN an effort to improve access to water among the conflict-affected in the northeast, the Food and Agriculture Organisation of the United Nations (FAO) and Eni, through its Nigerian subsidiary Nigerian Agip Exploration (NAE), commissioned a water scheme in Bama, Borno State, Nigeria. The scheme, involving a solar-powered borehole, is the 10th established as part…

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Nigerian solar firm Arnergy secures $9m in financing

Jun 24, 2019

Nigerian distributed utility company Arnergy has closed a USD-9-million (EUR 7.9m) Series A funding round led by Breakthrough Energy Ventures (BEV). The state-owned Norwegian Investment Fund for Developing Countries, better known as Norfund, the EU-backed EDFI ElectriFI electrification financing initiative and independent impact investing company All On took part in the transaction as well. Arnergy…

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Nigeria sees top ‘last mile’ funding flow into its off grid sector

Jun 22, 2019

Nigeria’s off grid electricity market is steadily becoming the darling of funders and investors, and this is despite its market entry challenges – FX instability, country’s insecurity, and customs levies. While it is not clear if investors in the market enjoy any form of tax holidays as they come in, it is however certain that…

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Renewable energy set to provide half of global electricity demand by 2050 – BNEF report

Jun 22, 2019

A new report released on Tuesday states that nearly half the world’s electricity need will come from renewable energy by 2050 as costs of wind, solar and battery storage continue to plunge. That shift over the next three decades will come as electricity demand increases 62 per cent and investors pump $13.3 trillion into new…

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Schneider Electric, EM-ONE Energy sign MoU for renewable energy mini-grids in Nigeria

Jun 21, 2019

In a bid to create an African mini-grid industry involving decentralized electricity generation and distribution networks based on renewable energy, Schneider Electric has signed a Memorandum of Understanding with EM-ONE Energy Solutions, a Nigerian sustainable energy engineering company. For 18 months, led by its sustainability department, the Group has been working to set up an…

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Nigeria loses $132bn annually to neglect of coal sector

Jun 20, 2019

Nigeria has coal in commercial quantity yet it virtually lives in darkness; and businesses die due to lack of power. It is estimated that the mineral resource found in large quantities in Enugu, Kogi, Gombe and Nassarawa states is enough to provide electricity to the country and for export. Coal is highly underutilised in Nigeria…

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Chinese firm unveils solar solutions to bridge energy gaps in Nigeria

Jun 20, 2019

With International Energy Agency (IEA) reports, revealing that over 600 million people in Africa will not have access to grid electricity by 2030, a manufacturer of off-grid power generation systems, Shenzhen Lemi Technology Development Company Limited, has unveiled new solar solutions to the Nigerian market to bridge energy gaps. The Founder, Lemi Technology, Joyce Chen,…

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