Connect with us

Energy

Investment, Deal-making and Energy Transition to Top the Agenda at African Energy Week 2021

Published

on

green energy - Investors King

The African Energy Chamber (AEC) is reaffirming its commitment to Nigeria with a planned visit by AEC Executive Chairman NJ Ayuk on the 5th-10th July 2021. With the goal of supporting Nigeria in its efforts to pass the Petroleum Industry Bill, market the country as a premier investment destination, and promote African Energy Week (AEW) 2021 as the ideal networking platform for Nigerian oil and gas companies, Ayuk is prioritizing pan-African partnerships and continent-wide energy growth.

Committed to African-focused dialogue, Ayuk’s visit will comprise private meetings with both government representatives, National Oil Company leaders, and private sector executives. Additionally, the AEC will host a cocktail event for the Nigerian business community, prioritizing networking and partnerships as a form of prelude to AEW 2021.

“Nigeria represents a particularly lucrative market whereby investment and development should be directed. The AEC is a firm believer in partnerships and collaboration among Africa’s energy sector and is, therefore, reaffirming a commitment to Nigerian people and Nigerian energy,” stated Ayuk.

With over 187 trillion cubic feet of natural gas reserves, Nigeria has the potential to drive energy accessibility and security, boost job creation and industrialization, and spur socioeconomic growth across the entire region. In response to growing opportunities within the natural gas sector, Ayuk – accompanied by Florival Mucave, Executive Chairman of the Mozambique Oil and Gas Chamber – will be visiting various gas projects and developmental sites across the country. By focusing on productive dialogue regarding effective gas monetization and utilization, both Ayuk and Mucave aim to establish long-term partnerships with Nigerian companies and leaders in a bid to fast-track energy sector growth and poverty alleviation across the entire continent.

“With amazing talent and an exceptional skills set, and by fostering true partnerships with the right companies, Nigerian oil and gas companies can inspire other African companies in the energy sector to grow. It is through these partnerships where we will see increased energy independence and private sector growth across Africa,” continued Ayuk.

Throughout the visit, Ayuk will drive a discussion around the African energy transition, reaffirming the value of inclusivity and equity within Nigeria’s just transition. Recognizing the different economic realities both globally and across Africa, Ayuk is focused on collaborative dialogue with regards to Nigeria’s proposed strategies to achieve net-zero emissions by 2050.

Additionally, the visit will comprise key discussion topics such as African local content and intra-African trade – with particular focus on trade between African nations. Ayuk’s visit is intended to not only demonstrate the AEC’s ongoing support, but to help drive investment and development in one of Africa’s most esteemed oil and gas markets. By prioritizing private sector intra-African expansion, and motivating increased participation by Nigerian companies in the wider African energy market, Ayuk is emphasizing the role of the private sector in fast-tracking continent-wide energy success.

With the launch of AEW 2021 in Cape Town on the 9th-12th of November 2021, Ayuk is committed to uniting global investors with Nigerian oil and gas opportunities. By focusing on networking and partnerships, and presenting a platform whereby global stakeholders and industry leaders can make decisions regarding Africa’s energy future, AEW 2021 recognizes Nigeria’s role and significant contribution to Africa’s energy sector success.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Continue Reading
Comments

Energy

Pipeline Vandalism Causes 504MW Alaoji GenCo to Shut Down

Published

on

ossiomo

The reduced gas supply to the 504 megawatts (MW) Alaoji NIPP power plant in Aba, Abia State has caused the plant to shut down.

The low gas supply, according to the Niger Delta Power Holding Company Limited (NDPHC), was caused by pipeline vandalism of gas lines belonging to the TotalEnergies EP Nigeria Limited.

The gas company on Monday declared a Force Majeure event after its pipelines were vandalised on January 7, 2022.

In a letter to the NDPHC, TotalEnergies EP Nigeria Limited wrote, “The Management of Niger Delta Power Holding Company (NDPHC) Limited hereby regrets to announce the shutdown of 504MW Alaoji Power Plant on January 7, 2022.

“NOPL pipeline was vandalised on 7th January 2022 at KP41 Alaoma Etche Cluster.

“The Line Block Valve at KP38 was closed to isolate the sabotage point and depressurization of the line, this will affect gas supply to Alaoji (Power Plant) until further notice.”

“Gas supply to Alaoji Power Plant”, TotalEnergies said, has been “suspended due to this unfortunate event”.

“Preliminary investigation to determine the extent of the damage is ongoing, and repair works shall commence as soon as feasible,” the company added.

Continue Reading

Energy

TDB Closes Renewable Energy Deal Sourced With Support from Asoko’s Digital Engagement Platform

Published

on

Renewable Energy - Investors King

The Eastern and Southern African Trade and Development Bank (TDB) has closed a $4.2 million deal with Sunspot Energy Kenya Limited, a solar home system provider operating as Spark Possibilities. Sourced through TDB’s Renewables DealRoom hosted by Asoko Insight, the deal marks a milestone for the bank’s use of digital platforms to scale its financing of renewable energy projects, including off-grid and mini-grid projects and generation for industrial and commercial enterprises pursuing the electrification of nearby communities.

Since its launch in March 2021, the DealRoom has enabled TDB to build an actionable pipeline of bankable private sector projects in the renewable energy space, accelerating its deal origination. During these nine months, dozens of projects have been submitted to the DealRoom and passed toTDB.

Admassu Tadesse, TDB President Emeritus and Group Managing Director, said “TDB is pleased to be working with Asoko to expand its pipeline of renewable energy projects through its dedicated DealRoom. We hope that more businesses, and in particular SMEs, in our region will be inspired by this transaction with Spark Possibilities – the first to be sourced via the platform – and apply so that together we can contribute to reducing the energy access gap where it is needed the most“.

The financing to Sunspot will enable Spark Possibilities to offer an expanded range of solar energy solutions to more households in Kenya and to enter other markets in sub-Saharan Africa.

Congratulations to TDB and Sunspot Energy for closing this milestone deal. Momentum is building on our Digital Engagement Platform, with this deal following close on the heels of a debt deal closed by AfricInvest via the platform earlier this month. We remain committed to supporting more efficient deal-making and greater access to opportunity through our digital engagement services,” said Rob Withagen, Asoko Insight’s co-founder and CEO.

The DealRoom continues to be an active route for deal origination for TDB’s infrastructure financing

Continue Reading

Energy

South Korea to Contribute $12.3 Million Towards the Construction of Solar Mini-Grid in Nigeria

Published

on

price

The South Korean Government announced that it will contribute $12.4 Million towards the construction of solar mini-grids in Nigeria.

  The Ambassador of South Korea to Nigeria, Mr. Kim Young-Chae disclosed this on Monday the 6th in Abuja at the Stand-alone mini-grid project presentation ceremony organized by the Korea Institute for Advancement of Technology (KIAT), in collaboration with the Ministry of Trade and Energy, ILJIN Electrical, S/D Powernics and Korea Polytechnic.

The Ambassador’s full statement was “The project to be implemented by KIAT was designed to meet rising energy demands of rural communities, by constructing solar power generation systems, in cooperation with the Nigerian Government. It involves the construction of mini-grids in non-electrified rural communities near Abuja, to ensure a stable supply of power, installation of transmission and distribution lines, supply of electric equipment and systems and training for the operation and maintenance of mini-grids The project began as a framework agreement signed by South Korea and Nigeria, and laid the foundation for technological support and related policies.

Ita Enang, the Senior Special Assistant to the President on Niger Delta also present at the event, made the following comments “For this demonstration, it is good it is in the Federal Capital Territory, but it will be better to extend it to other areas so that you will get wider buy-in. I will suggest we go to areas like Lagos, Port-Harcourt, Akwa Ibom and Kano which have a high population density.”

Project Manager, Mr Kim Dohyoung said the project will begin with project designing in April 2022 and extend until December 2024 and it will be delivered in partnership with the necessary government agencies and local businesses. He stressed that the project will boost standard solutions in the power sector, provide environmentally friendly and sustainable energy development, and help to eradicate poverty in the country.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending