Power

BPE to open bids for NIPP plants January

Dec 24, 2013

The financial bids for the 10 power plants constructed by the Federal Government under the National Integrated Power Project will open in January, the Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, has said. Dikki said this at the signing of the Share Purchase Agreement between the privatisation agency and two power companies that bought…

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Transmission Company appoints new CEO

Dec 24, 2013

The Board of Transmission Company of Nigeria, TCN, has approved the appointment of Mr Mack Kast, as the new Managing Director and Chief Executive of the agency with immediate effect. Kast replaced Mr Don Priesman, the pioneer Managing Director/CEO for the Manitoba Hydro International, MHI, management contract in the TCN, who retired following a meritorious…

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Commercial price for gas-to-power to rise in 2014

Dec 24, 2013

The commercial price for gas supply to Nigeria’s power sector under the federal government’s domestic gas supply obligation is expected to rise from its current value of $1.80 million British thermal unit (mBtu) to about $2mBtu in 2014, THISDAY investigation has revealed. The projected increment is expected to equally reflect in the Multi Year Tariff…

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FG, Televeras Group, North-West sign SPA for Afam, Kaduna Disco

Dec 24, 2013

Finally, after initial hiccups, the Bureau of Public Enterprises (BPE) Monday signed the Share Purchase Agreement (SPA) with the preferred bidders for both Afam generation company (Genco) and Kaduna distribution company (Disco), namely Televeras Group and North-West Power Limited respectively. The National Council on Privatisation (NCP) had suspended bids for both firms, after it was…

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EMS takes over PHCN’s non core assets, services

Dec 23, 2013

The Electricity Management Services Limited (EMS) has taken over non-core assets and services of the defunct Power Holding Company of Nigeria (PHCN) to bridge the gaps that would be created by the sale and take-over of the generation and distribution facilities by their new owners. The assets are those not included in the facilities sold…

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BPE, power investors sign agreement on Kaduna, Afam

Dec 23, 2013

The Bureau of Public Enterprises will on Monday (today) sign a Share Purchase Agreement with two consortia for the purchase of majority shares in Afam Power Plc and Kaduna Electricity Distribution Company. The Head, Public Communications, BPE, Mr. Chigbo Anichebe, confirmed this in a telephone interview with our correspondent in Abuja on Sunday. The core…

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More communities to enjoy stable power –Nebo

Dec 23, 2013

Baring any last minute change of policy, more villages within Abuja will be powered with electricity as the Power Minister, Professor Chinedu Nebo is set to commission the solar-powered electrification project in Durumi, a surb of Mpape in Bwari Area Council. The project which is under the auspices of “Light Up Nigeria initiative, mid-wived by…

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TCN: Power supply to drop by 826MW for 3 hours Saturday

Dec 21, 2013

The Transmission Company of Nigeria (TCN) has said that there will be a drop in nationwide power supply by about 826 megawatts (MW) today but for just about three hours. The drop will however affect just about five states in the eastern and southern part of the country; Abia, Cross River, Imo, Akwa Ibom and…

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AfDB Approves $184m Loan for Power Sector

Dec 20, 2013

The African Development Bank (AfDB) Thursday disclosed it had approved $184.2 million loan to encourage private investments in the Nigerian power sector. The approval was contained in a statement issued by the institution which was made available to the News Agency of Nigeria (NAN) in Addis Ababa. The facility is under the bank’s Partial Risk…

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N10bn debt: Many power firms still owe govt

Dec 19, 2013

About 60 per cent of the power investors that recently bought over the electricity distribution companies have yet to make the required remittances for the month of November to the Federal Government. Of the N12bn meant to be remitted to the Operator of the Nigerian Electricity Market for the month, only N2bn had been paid…

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