Alternative Energy

EU to launch €30m energy investment fund in Nigeria

Mar 7, 2019

The European Union (EU) says it will launch a 30 million Euro sustainable energy investment fund in Nigeria. Mr Adekunle Makinde, a former National Chairman, Nigerian Institute of Electrical and Electronics Engineers (NIEEE) and co-Chairman of the forum, made this known in Lagos. Malinda said in a statement that the launch was part of the…

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Royal Power unveils solar inverters, batteries for Nigerian market

Mar 7, 2019

Royal Power & Energy Limited has introduced new solar inverters and batteries into the Nigerian market. The firm said it had since 2005 been offering products and services in the areas of power backup, power conditioning and power protection/monitoring. The Deputy Managing Director, Royal Power & Energy Limited, Kesavan Madhavrao, at the launch of the…

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‘More off-grid solutions needed to check high energy costs, poor supply’ – LCCI

Mar 6, 2019

Citing complaints by many businesses about high energy costs especially in relation to expenditure on diesel, as well as poor distribution of energy to consumers, the Lagos Chamber of Commerce and Industry (LCCI), has urged the Federal Government to deploy more off-grid power generation for improved access to electricity. According to the Chamber, the power…

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ZOLA Electric announces expansion into Nigeria market

Mar 6, 2019

ZOLA Electric (‘ZOLA’), the leading renewable energy brand in Africa, with 200,000 installations and more than 1,000,000 daily users has announced plans to bring clean, affordable, reliable 24 hour power to Nigeria. According to Mr. Bill Lenihan, Chief Executive Officer, ZOLA’s entry into the Nigerian market is in line with the mission of the company…

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Off-grid development to rescue Nigeria’s power sector – Investment bank

Mar 3, 2019

Development of off-grid power distribution solution, otherwise, known as standalone power system will open up the power sector to more investment opportunities from within and outside the country, thereby contributing to economic productivity and Gross Domestic Product (GDP) growth, an investment banking firm, Emerging Africa Capital Group, has said. Minister of Power, Works and Housing,…

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Shiroro Power Plant receives N8.5 boost as operators issue Green Bond

Mar 2, 2019

InfraCredit, a ‘AAA’ rated infrastructure credit enhancement facility backed by the Nigeria Sovereign Investment Authority, GuarantCo (a Private Infrastructure Development Group company), KfW Development Bank and Africa Finance Corporation, is pleased to announce its guarantee of North South Power Company Limited’s (“NSP”) NGN8.5billion 15-Year 15.60% Series 1 Guaranteed Fixed Rate Senior Green Infrastructure Bonds Due…

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Renewable energy to become world’s main power source by 2040 – BP

Mar 2, 2019

Renewable energies will be the world’s main source of power within two decades and are establishing a foothold in the global energy system faster than any fuel in history, according to BP. The UK-based oil company said wind, solar and other renewables will account for about 30% of the world’s electricity supplies by 2040, up from…

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NEMSA pushes renewable energy growth, certifies 18 firms

Mar 2, 2019

The quest for clean, sustainable and uninterrupted energy sources is further gaining momentum in the Nigerian power sector as the Federal Government throws its weight behind the concept and more indigenous firms are beginning to show up in the process. Pushing the growth of renewable energy projects in the country, the Nigerian Electricity Management Services…

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Exide, Multipower Global partner on batteries, solar systems for Nigerian market

Feb 28, 2019

Multipower Global Solutions Limited says it has obtained exclusive rights to distribute Exide Industries’ range of batteries in a bid to curb the rising importation of counterfeit batteries into Nigeria. “Impostors are now selling various versions of Exide batteries, solar inverters, solar PCU, and other products, thus creating a negative impact on the dealers and…

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Rosatom Exec gives reasons for Russia, Nigeria’s collaboration on nuclear energy

Feb 28, 2019

Russian and Nigerian Government collaborated to build nuclear energy in Nigeria in order to help the country reduce power outages, improve industrial capacity and further grow its Gross Domestic Product (GDP), ROSATOM Central and Southern Africa Chief Executive officer, Dimitry Shornikov, has said. ROSATOM is Russian Government-owned nuclear energy firm, and it specialises in the…

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