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In search Of Alternative Power Supply, Nigerians Spend N7T On Power Generation Annually

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Electricity Pole

Nigerians, and by extension, their businesses, expend about N7 trillion annually on power generation, the Executive Director and Chief Operating Officer, Off-Grid Tech Solutions Ltd, Stephen Ogboko has said.

Ogboko, who made this known at a virtual news conference in Lagos said that inadequate power supply had been a major challenge facing businesses in the country, forcing them to source alternative power supply for their operations.

“Nigeria is among the countries with a very high need of electricity.

“A significant amount of the economy is powered largely by small-scale generators and almost 50 percent of the population have limited or no access to the grid.

“This could be effectively tackled with the deployment of off-grid renewable energy solutions by making electricity more cost effective and environmentally friendly,” Ogboko said.

He described renewable energy from off-grid resources as sustainable and cost-effective for farmers and Small and Medium Enterprises (SMEs).

Ogboko said Off-Grid Tech Solutions Ltd. partners with the global innovators of off-grid solutions to provide reliability.

“This is cost-effective and lasting solutions to societal problems toward improving the lives of people in developing nations.

“Our team of experts have worked all over Africa, and continue to work to provide solutions to a variety of sectors.

“We have marketed and delivered smart off-grid solutions for many years, providing permanent, efficient, safe and affordable solutions,” He said.

Ogboko said that the firm specialises in the marketing of heat lamps and incubators, gas-powered air conditioners and cooling fridge, mobile power solution-solar energy box, pressure cookers, among others.

He said that notable partners of the initiative were the Federal Ministry of Agriculture and Rural Development (FMARD), United Kingdom Department for International Trade (UK-DIT), International Institute of Tropical Agriculture (IITA), All Farmers Association of Nigeria (AFAN), Buckler Group, and Tywit.

The News Agency of Nigeria (NAN) reports that off-grid renewable energy solutions support the expanding access to modern energy services in an environmentally sustainable manner.

Off-grid renewable will deliver a wide spectrum of electricity services for households, public services, and also serve commercial and industrial purposes.

Off-grid energy solutions are one of the key drivers of the nation’s push for industrialisation.

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Pipeline Vandalism Causes 504MW Alaoji GenCo to Shut Down

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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.

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

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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

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

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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.

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