Banking and Finance ENERGY Infrastructure Infrastructure Financing News & Reports Power

PIDG’s Emerging Africa Infrastructure Fund Anchors $420mn Bond Issuance

Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF) was an anchor investor in a recent successful bond issue by African telecommunications and digital company Axian Telecom. It raised US$420 million (€369.31 million). EAIF has invested US$20 million (€17.59 million) in the bond, scaled back from an original commitment of up to …read more →

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British Power Company in trillion-Dollar Compo Blunder

British energy supplier Northern Powergrid has apologised to 74 customers after they were accidentally sent compensation cheques of more than £2.3 trillion ($4.4 trillion). Compensation is being paid to tens of thousands of customers who were left without power when severe “once in a generation” winds swept across Britain from Storm Arwen in November last …read more →

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Northern Youths Urge Protection for Public Infrastructure

Northern youths, under the aegis of Arewa Youth Assembly, have called on the President, Major General Muhammadu Buhari(retd.) to engage the service of competent hands to protect the Ajaokuta-Kaduna-Kano gas pipeline from vandals. This, the youth said, became imperative to promote a steady and guaranteed gas supply from the South to the North at the …read more →

Infrastructure Infrastructure Financing News & Reports Power

Power: NERC Laments Infrastructure Deficits, Wide Metering Gap

The Nigerian Electricity Regulatory Commission, NERC, Friday, lamented that the issues of infrastructure deficits and challenges of metering gap have compounded its woe of addressing the problems in the power sector. The Chairman of NERC, Mr. Sanusi Garba, who made the remarks during the signing of Memorandum of Understanding, MoU, with the Federal Competition and …read more →

ENERGY Infrastructure News & Reports Power

Prepaid Meters: Energy Experts Call for Review of Prices, Installation Process

Stakeholders in the electricity sector have called on the federal government to review the pricing of prepaid meters as the second phase of the National Mass Metering Programme (NMMP) is set to commence. They said this at the just-concluded power sector dialogue in Abuja themed ‘Assessing the Progress of the NMMP’. The NMMP is an …read more →

Infrastructure News & Reports Power

Egbin Power Plant Resumes Operations as TCN Restores 180mw to National Grid

The Management of Egbin Power Plc says its power plant at Egbin, Ikorodu, Lagos State, has resumed operations following the recent fire incident at the plant. The company made this known in a statement posted on its website on Saturday. It said: “Unit (STO5) was put back in service and synchronized to the national grid …read more →

Infrastructure News & Reports Power

NDPHC Awards Owerri Sub-Station to AK-AY Elektrik

The Niger Delta Power Holding Company (NDPHC) Limited has awarded the contract for immediate installation and energizing of the Owerri NIPP 2 x 150MVA and 2 x 60MVA 330/132/33kV Owerri Transmission Sub-station to Messrs. Ak-AY Elektrik. According to a statement from the company’s Media Adviser, ‘Sanya Adejokun, the transformers had been installed more than 10 years ago …read more →

Banking and Finance ENERGY Infrastructure Financing News & Reports Power

FG Did Not Takeover Abuja Electricity Disco

The Nigerian Electricity Regulatory Commission (NERC) and Bureau of Public Enterprises (BPE) have said that the action   to appoint   an interim  team  to manage  Abuja Electricity Distribution Company (AEDC)  was  not done  on the directive   from the Federal  Government, but on the basis of legal  processes  arising  from the failure   of the core investor  in …read more →

Infrastructure News & Reports Power

Lafia Transmission Sub-Station Completed, Energised

The Niger Delta Power Holding Company (NDPHC) says the Lafia 2X150 Mega Volt Ampere (MVA) 2X60 /132/33/330 Kilo Volt (kV) Transmission Substation is finally completed and energised. The Technical Adviser (Media), NDPHC, Mr Sanya Adejokun, said this in a statement in Abuja on Monday. Adejokun said that the contract for the multi-billion Naira National Integrated …read more →

ENERGY Infrastructure News & Reports Power

TCN Upgrades Kaduna-Kos 330kv Transmission Line to 1500MW

In line with efforts to further expand its transmission capacity, the Transmission Company of Nigeria (TCN) said it has commenced the final stage of the construction of its new Kaduna–Jos 330kV double circuit transmission line, with the erection of eight triple-circuit towers at the intersection point of the new double circuit and existing single circuit …read more →