Naijapower

France, through its development agency the French Development Agency (AFD), has approved for the Transmission Company of Nigeria (TCN), a total of $245 million financial package to undertake its expansion of Nigeria’s electricity grid at the northern ends of the country. A statement from TCN’s General Manager, Public Affairs, Mrs. Ndidi Mbah, explained that the board of AFD approved the $245 million on December 20, 2018. Mbah, stated that the funding would enable TCN undertake the Northern Corridor Project under its Transmission Rehabilitation and Expansion Program (TREP). She noted that apart from the AFD’s $245 million financial package for the project, the European Union (EU) had earlier approved a grant of €25 million for the project. According to her, the approval of the Northern Corridor Project by the board of AFD and European Union was a significant step towards establishing a modern electricity grid in Nigeria. She noted that while the TREP sought to rehabilitate,...

Nigerian Green Energy StartUp Implements power-as-a-service (PaaS) Solar Offering Green energy supplier start-up Rensource has implemented new business model, power-as-a-service (PaaS), to supply cleaner and less expensive solarpower in Nigeria. Rensource’s new PaaS solar offering, specifically designed for the Nigerian market, is a distributed infrastructure the customer pays to use and not to own. The PaaS solution is said to help compensate the nation’s longstanding failure to develop sufficient utility-scale power infrastructure, replacing millions of fossil fuel generators. Rensource’s founder and chief executive officer (CEO) Ademola (Demmy) Adesina said: “Various efforts to address the generator-centric power problem in Nigeria have largely failed. “The additional demand from accelerating urbanisation and a rapidly growing population have far outpaced meagre investments into ageing generation and transmission infrastructure. “Various efforts to addr...