Power

Jebba generation capacity rises to 450mw

Nov 19, 2013

The capacity of Jebba Power Plant recently taken over by Mainstream Energy Solutions Limited at the weekend moved from 380 megawatts to 450 megawatts. The Hydro Electric Company formerly of the Power Holding Company of Nigeria (PHCN) is currently running five units out if its installed capacity of six units. Another unit was added last…

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NERC moves to clip GENCOs,’ DISCOs’ wings

Nov 19, 2013

To ensure that the 14 power generation and distribution companies do not derail, the National Electricity Regulatory Commission (NERC) will soon release the guidelines for their operations The guidelines will regulate the safety, health and environmental operations of the GENCOs and DISCOs, NERC Chairman Dr. Sam Amadi said. Amadi told The Nation that NERC’s action…

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States, communities to share 40% stakes in PHCN assets

Nov 19, 2013

States and communities hosting the 11 distribution companies unbundled from the defunct Power Holding Company of Nigeria (PHCN) will share the remaining 40 per cent stakes in the assets, as part of the efforts to compensate state governments that made huge investments in the electricity distribution infrastructure before the privatisation of the power sector. The…

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NIPPs: A scratch on the surface?

Nov 18, 2013

Nigeria’s quest to provide quality electricity supply to the populace and businesses was given a boost last week when the Niger Delta Power Holding Company (NDPHC) received bids from 66 prospective investors in the 10 National Integrated Power Plants (NIPPs) built by the company. However, Andy Nssien, Business Editor, reports that the expected output from…

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FBN Capital set to finance power firms

Nov 18, 2013

FBN Capital has unfolded plans to raise fund from both international and local currency market to finance the recent privatized fi rms and its private equity business in 2014. The fund raising is in anticipation of a successful privatization programme and readiness for the capital-intensive projects and transactions that would emerge from the various developmental…

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Power Sector will Attract $9.3bn Investment In 5 yrs — Dikki

Nov 15, 2013

The director-general of the Bureau of Public Enterprise (BPE), Mr Benjamin Dikki, has disclosed that the privatisation of the power sector would usher in a minimum investment inflow of $9.3 billion into the economy within the next five years. Dikki stated this yesterday in Abuja while presenting a keynote address at the induction ceremony of…

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FG to reinvest NIPP proceeds to generate 6000mw

Nov 15, 2013

The federal government has disclosed that the proceed it would realise from the privatisation of the ongoing 10 national integrated power projects consisting of generation plants would be reinvested into building 10 new hydro dams to generate additional 6000 megawatts electricity to the national grid. Speaking at the 2nd induction ceremony of participants of the…

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Nigeria loses 1,761MW to gas, transmission problems

Nov 15, 2013

Indications have emerged that Nigeria is currently losing 1,761 megawatts of power to dilapidated transmission networks and inadequate gas supply. The Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, in a document made available to our correspondent on Thursday, said, “There is an unutilised generation capacity of 1,761 megawatts due to gas and transmission constrains …

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We have paid PHCN workers, says BPE boss

Nov 15, 2013

The Federal Government has paid all the 40,696 verified staff of the defunct Power Holding Company of Nigeria (PHCN), the Director-General, Bureau of Public Enterprises (BPE), Benjamin Dikki, has said. He said the payments were made in accordance with the October 31 agreement reached between the workers and the Federal Government, “that the issue of…

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Kaduna Disco not handed over to new investors –Mgt

Nov 14, 2013

Contrary to reports that the Kaduna Electricity Distribution Company (KEDC) has been handed over to new investors, the management of the company has said that the company is yet to be handed over in line with the ongoing privatisation programme in the power sector. The management also appealed to its customers to desist from obstructing…

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