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	<title>Energy Storage Archives &#8226; The Electricity Hub</title>
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	<title>Energy Storage Archives &#8226; The Electricity Hub</title>
	<link>https://theelectricityhub.com/category/energy-storage/</link>
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	<item>
		<title>President Macron Backs Nuclear Energy at AI Summit</title>
		<link>https://theelectricityhub.com/president-macron-backs-nuclear-energy-at-ai-summit/</link>
					<comments>https://theelectricityhub.com/president-macron-backs-nuclear-energy-at-ai-summit/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Wed, 12 Feb 2025 12:40:10 +0000</pubDate>
				<category><![CDATA[Carbon Emissions]]></category>
		<category><![CDATA[Distribution]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[International News]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[On-Grid]]></category>
		<category><![CDATA[Sustainable Development]]></category>
		<category><![CDATA[AI]]></category>
		<category><![CDATA[America]]></category>
		<category><![CDATA[France]]></category>
		<category><![CDATA[Macron]]></category>
		<category><![CDATA[Nuclear energy]]></category>
		<category><![CDATA[Trump]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99881</guid>

					<description><![CDATA[<p>French President Emmanuel Macron reaffirmed his commitment to nuclear energy at the World Summit on Artificial Intelligence in Paris. He positioned it as a key advantage for France’s digital infrastructure,&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/president-macron-backs-nuclear-energy-at-ai-summit/">President Macron Backs Nuclear Energy at AI Summit</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">President Macron promotes nuclear energy at AI Summit, touting France’s low-carbon electricity as a key advantage for tech industries.</li>



<li class="">Trump pushes for massive oil drilling expansion in the U.S., aiming to boost domestic production and global influence.</li>



<li class="">The contrasting energy strategies highlight France’s focus on sustainability and energy independence, while the U.S. emphasises fossil fuel dominance.</li>
</ul>



<p class="">French President Emmanuel Macron reaffirmed his commitment to nuclear energy at the World Summit on Artificial Intelligence in <a href="https://energynews.pro/en/macron-opposes-french-nuclear-energy-to-trumps-oil-drilling/">Paris</a>. He positioned it as a key advantage for France’s digital infrastructure, directly contrasting it with former U.S. President Donald Trump’s aggressive push for more oil drilling.</p>



<p class="">Since his return to the White House, Trump has declared an &#8220;energy emergency&#8221; through an executive order aiming to boost domestic <a href="https://theelectricityhub.com/?s=hydrocarbon+production">hydrocarbon production</a>. His plan aggressively expands oil and gas drilling, reinforcing his 2016 slogan: &#8220;We will drill, baby, drill.&#8221;</p>



<p class="">In response, Macron told investors: &#8220;Here, there is no need to drill. Just plug, baby, plug.&#8221; He emphasised France’s abundant <a href="https://theelectricityhub.com/?s=low-carbon+electricity">low-carbon electricity</a> from its nuclear network, which powers AI and other energy-intensive technologies. Macron highlighted this as a significant edge over countries reliant on fossil fuels.</p>



<p class="">He underscored France’s ability to provide low-carbon energy, critical for data centres and tech industries requiring constant, stable power. Macron aimed to position France as a leading destination for tech companies and international investors, offering a reliable and affordable <a href="https://theelectricityhub.com/?s=energy+supply">energy supply</a>.</p>



<p class="">Meanwhile, Trump focused on increasing U.S. oil and gas production to boost strategic reserves and reduce consumer energy costs. The U.S., the world’s largest oil producer, plans to increase energy exports, aiming to strengthen its global market position. Trump believes that more fossil fuel production will lower domestic prices and assert U.S. dominance as an energy supplier.</p>



<p class="">The stark differences in energy policies between the U.S. and France reflect their contrasting approaches to securing future energy supplies. Trump relies on hydrocarbons, while Macron promotes <a href="https://theelectricityhub.com/?s=nuclear+energy">nuclear energy</a> as a more sustainable solution. Macron’s strategy prioritises energy independence to ensure long-term stability and drive growth in advanced industries.</p>



<p class="">With AI and digital technologies proliferating, global electricity demand continues to soar. Macron argued that France’s nuclear-powered grid will better meet these demands without raising <a href="https://theelectricityhub.com/?s=carbon+emissions">carbon emissions</a>. He presented France as a reliable partner, providing the stable energy to power future technological advances.</p>



<p class="">In contrast, Trump’s strategy leans on <a href="https://theelectricityhub.com/?s=traditional+energy">traditional energy</a> sources to meet rising demand and offer cheaper energy to consumers. By expanding oil and gas production, Trump aims to keep the U.S. competitive in global energy markets.</p>



<p class="">France and the U.S.&#8217;s divergent paths reflect broader strategic decisions facing major global powers today. Macron’s vision of nuclear energy and Trump’s push for <a href="https://theelectricityhub.com/?s=fossil+fuel">fossil fuel</a> expansion show two approaches to handling rising energy needs and environmental concerns. For years, these decisions will influence global energy markets, investment trends, and technological development.</p>
<p>The post <a href="https://theelectricityhub.com/president-macron-backs-nuclear-energy-at-ai-summit/">President Macron Backs Nuclear Energy at AI Summit</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>Potentia Energy Seizes 1 GW in Australia&#8217;s Renewables</title>
		<link>https://theelectricityhub.com/potentia-energy-seizes-1-gw-in-australias-renewables/</link>
					<comments>https://theelectricityhub.com/potentia-energy-seizes-1-gw-in-australias-renewables/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Wed, 12 Feb 2025 09:04:18 +0000</pubDate>
				<category><![CDATA[Carbon Emissions]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[Energy Transition]]></category>
		<category><![CDATA[Green Hydrogen]]></category>
		<category><![CDATA[International News]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Off-Grid]]></category>
		<category><![CDATA[Renewable Energy]]></category>
		<category><![CDATA[Renewables]]></category>
		<category><![CDATA[Australia]]></category>
		<category><![CDATA[battery energy]]></category>
		<category><![CDATA[Enel Green Power]]></category>
		<category><![CDATA[Potentia Energy]]></category>
		<category><![CDATA[Solar Project]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99876</guid>

					<description><![CDATA[<p>Potentia Energy, co-owned by Enel Green Power and INPEX, has secured more than 1 gigawatt (GW) of renewable energy assets in Australia through an acquisition agreement with CVC DIF and&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/potentia-energy-seizes-1-gw-in-australias-renewables/">Potentia Energy Seizes 1 GW in Australia&#8217;s Renewables</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">Potentia Energy acquires over 1 GW of renewable energy assets in Australia, including 700 MW of operational wind and solar projects.</li>



<li class="">The deal includes over 430 MW of late-stage development projects, such as Battery Energy Storage Systems (BESS) and wind farms.</li>



<li class="">Potentia plans to integrate these assets into its portfolio, boosting its presence in Australia’s renewable energy market.</li>
</ul>



<p class="">Potentia Energy, co-owned by <a href="https://energynews.pro/en/potentia-energy-acquires-a-1-gw-portfolio-of-renewable-assets-in-australia/">Enel Green Power and INPEX</a>, has secured more than 1 gigawatt (GW) of renewable energy assets in Australia through an acquisition agreement with CVC DIF and Cbus Super. This deal marks a significant expansion of Potentia’s footprint in the Australian <a href="https://theelectricityhub.com/?s=renewable+energy+market">renewable energy market</a>.</p>



<p class="">The acquisition includes around 700 megawatts (MW) of operational wind and solar energy assets and over 430 MW of late-stage development projects in the company’s portfolio. These projects feature a Battery Energy Storage System (BESS) slated for South Australia and Queensland and a wind farm located in Western Australia. This move significantly advances Potentia’s strategy of growing its renewable energy capacity in key regions.</p>



<p class="">Werther Esposito, CEO of Potentia Energy, emphasised the importance of this acquisition, stating that it strengthens the company’s overall portfolio and enhances its ability to participate in both the Wholesale Energy Market (WEM) and the National Electricity Market (NEM). “This acquisition strengthens our position in Australia’s renewable energy market and expands our capabilities,” Esposito said.</p>



<p class="">Before this acquisition, Potentia Energy operated several renewable energy projects across Australia. These include 309 MW of solar capacity in South Australia and Victoria and a 75 MW wind farm in Western Australia. The company is also developing a <a href="https://theelectricityhub.com/?s=hybrid+solar-battery+project">hybrid solar-battery project</a> in New South Wales, adding 98 MW of solar energy and 20 MW of battery storage. Additionally, Potentia is nearing the commissioning phase for a 93 MW solar farm in Victoria.</p>



<p class="">Potentia Energy plans to integrate these newly acquired assets into its portfolio, boosting its renewable energy production and positioning the company for further growth. These additional assets will support Australia’s ongoing shift toward <a href="https://theelectricityhub.com/?s=clean+energy">clean energy</a> while also helping the company play a more significant role in its efforts to meet its renewable energy targets.</p>



<p class="">The deal requires regulatory approval, including clearance from the Australian Foreign Investment Review Board (FIRB). This regulatory step ensures compliance with Australia’s foreign investment policies and represents a critical step before the acquisition becomes official.</p>



<p class="">Potentia Energy’s latest move aligns with its broader goal of expanding its global renewable energy portfolio. The company continues to invest in projects that enhance its presence in key markets like Australia, where demand for <a href="https://theelectricityhub.com/?s=green+energy">green energy</a> solutions remains strong.</p>



<p class="">By securing these assets, Potentia Energy positions itself as a major player in Australia’s renewable energy landscape. The company remains committed to advancing clean energy technologies and supporting global efforts to reduce <a href="https://theelectricityhub.com/?s=carbon+emissions">carbon emissions</a>. With this acquisition, Potentia Energy takes another significant step toward contributing to a more sustainable future while enhancing its international standing in the <a href="https://theelectricityhub.com/?s=renewable+energy+sector">renewable energy sector</a>.</p>
<p>The post <a href="https://theelectricityhub.com/potentia-energy-seizes-1-gw-in-australias-renewables/">Potentia Energy Seizes 1 GW in Australia&#8217;s Renewables</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>IEA to Launch Global AI Energy Tracker as Demand Surges</title>
		<link>https://theelectricityhub.com/iea-to-launch-global-ai-energy-tracker-as-demand-surges/</link>
					<comments>https://theelectricityhub.com/iea-to-launch-global-ai-energy-tracker-as-demand-surges/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Wed, 12 Feb 2025 08:46:28 +0000</pubDate>
				<category><![CDATA[Carbon Emissions]]></category>
		<category><![CDATA[Distribution]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[International News]]></category>
		<category><![CDATA[Metering]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[On-Grid]]></category>
		<category><![CDATA[Sustainable Development]]></category>
		<category><![CDATA[AI]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[electricity]]></category>
		<category><![CDATA[Energy Consumption]]></category>
		<category><![CDATA[Energy Infrastructure]]></category>
		<category><![CDATA[IEA]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99866</guid>

					<description><![CDATA[<p>The International Energy Agency (IEA) will launch a global observatory in April to track the energy footprint of data centres as artificial intelligence (AI) usage surges. The initiative aims to&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/iea-to-launch-global-ai-energy-tracker-as-demand-surges/">IEA to Launch Global AI Energy Tracker as Demand Surges</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">The IEA will launch a global observatory in April to track the energy consumption of data centres driven by AI growth.</li>



<li class="">Data centres&#8217; electricity use, currently 1.4% of global consumption, could nearly triple 3% by 2030 due to rising AI and cryptocurrency demands.</li>



<li class="">The observatory will provide real-time data to help governments and businesses plan for AI&#8217;s increasing impact on energy infrastructure.</li>
</ul>



<p class="">The International Energy Agency (IEA) will launch a global observatory in April to track the energy footprint of data centres as artificial intelligence (<a href="https://energynews.pro/en/iea-launches-observatory-to-monitor-ais-energy-impact/">AI</a>) usage surges. The initiative aims to provide accurate, centralised data on rising electricity demand linked to AI and digital infrastructures.</p>



<p class="">AI drives global electricity consumption at an increasing rate. According to Deloitte, data centres, critical to AI, consumed 1.4% of the world’s electricity in 2023. Experts expect this number to nearly triple by 2030, reaching 3%, or about 1,000 terawatt-hours (TWh)—comparable to the combined electricity use of France and Germany.</p>



<p class="">The IEA predicts data centre energy consumption will rise by over 75% between 2022 and 2026 due to AI applications and cryptocurrencies. These technologies demand vast computing power to operate advanced models, increasing <a href="https://theelectricityhub.com/?s=electricity+usage">electricity usage</a>.</p>



<p class="">The observatory will monitor global data centre <a href="https://theelectricityhub.com/?s=energy+consumption">energy consumption</a> in real-time. The IEA will work with industry players to gather detailed data and analyse electricity demand trends more precisely. This effort will help governments and businesses understand AI’s effect on <a href="https://theelectricityhub.com/?s=energy+infrastructures">energy infrastructures</a> and plan for future demand.</p>



<p class="">The observatory’s data will consolidate fragmented information and ensure more reliable reporting than current media figures. The Élysée emphasises that this data will enable policymakers to assess AI’s impact on electricity grids and better prepare for the increasing <a href="https://theelectricityhub.com/?s=energy+needs">energy needs</a>.</p>



<p class="">Simultaneously, the International Telecommunication Union (ITU) is developing a coalition of AI companies to improve energy efficiency. The Paris Summit on Artificial Intelligence introduced this initiative to manage AI’s impact on power grids while supporting its growth.</p>



<p class="">The IEA’s observatory will be a key tool for tracking AI’s energy demands. Providing accurate, real-time data will help decision-makers anticipate growing electricity needs driven by emerging technologies.</p>



<p class="">With AI advancing rapidly, understanding its energy consumption remains crucial. The IEA’s global observatory will offer vital data to ensure energy systems meet rising demand. Its launch marks a significant step in tackling the energy challenges tied to AI’s expansion.</p>



<p class="">This initiative underscores the need for effective energy management as AI evolves. The IEA’s observatory supports efforts to balance AI development with <a href="https://theelectricityhub.com/?s=sustainability">sustainability</a> by providing detailed insights into data centre consumption.</p>
<p>The post <a href="https://theelectricityhub.com/iea-to-launch-global-ai-energy-tracker-as-demand-surges/">IEA to Launch Global AI Energy Tracker as Demand Surges</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>AFREXIMBANK Pumps $52B into Nigeria for Key Projects</title>
		<link>https://theelectricityhub.com/afreximbank-pumps-52b-into-nigeria-for-key-projects/</link>
					<comments>https://theelectricityhub.com/afreximbank-pumps-52b-into-nigeria-for-key-projects/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Wed, 12 Feb 2025 08:12:17 +0000</pubDate>
				<category><![CDATA[Distribution]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[Energy Transition]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Sustainable Development]]></category>
		<category><![CDATA[West Africa]]></category>
		<category><![CDATA[Afreximbank]]></category>
		<category><![CDATA[Africa]]></category>
		<category><![CDATA[Energy Project]]></category>
		<category><![CDATA[finance energy project]]></category>
		<category><![CDATA[MOU]]></category>
		<category><![CDATA[Nigeria]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99861</guid>

					<description><![CDATA[<p>The African Export-Import Bank (AFREXIMBANK) has invested $52 billion in Nigeria, making it its most significant trade and development financing recipient. AFREXIMBANK President Prof. Benedict Oramah announced this during a&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/afreximbank-pumps-52b-into-nigeria-for-key-projects/">AFREXIMBANK Pumps $52B into Nigeria for Key Projects</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">AFREXIMBANK has invested $52 billion in Nigeria, making it the largest recipient of the bank’s trade and development funding.</li>



<li class="">The bank&#8217;s initiatives include the African Quality Assurance Centre in Kaduna and the African Medical Centre of Excellence in Abuja, opening in June 2025.</li>



<li class="">AFREXIMBANK plans to establish a $5 billion Africa Energy Bank in Abuja to support energy security and sustainable projects across Africa.</li>
</ul>



<p class="">The African Export-Import Bank (AFREXIMBANK) has invested $52 billion in <a href="https://www.msn.com/en-xl/money/economy/afreximbank-invests-52bn-in-nigeria-plans-energy-bank/ar-AA1yRbqr?ocid=BingNewsVerp">Nigeria</a>, making it its most significant trade and development financing recipient.</p>



<p class="">AFREXIMBANK President Prof. Benedict Oramah announced this during a meeting with Finance Minister Mr. Wale Edun in Abuja. Oramah emphasised Nigeria’s critical role in the bank’s projects, stating, “Nigeria has received $52 billion in cumulative disbursements from Afreximbank, becoming the largest beneficiary.”</p>



<p class="">He outlined Nigeria&#8217;s leading position in several flagship projects, including initiatives in industrialisation and healthcare. AFREXIMBANK established the African Quality Assurance Centre in Kaduna to ensure Nigerian goods meet international standards, with plans to build more centres across Africa.</p>



<p class="">Oramah highlighted the bank&#8217;s contribution to Africa’s economic transformation, revealing that AFREXIMBANK had disbursed over $140 billion across the continent in the last decade, fueling industrial growth.</p>



<p class="">AFREXIMBANK funded the African Medical Centre of Excellence in Abuja in Nigeria&#8217;s healthcare sector. The centre, opening on June 5, 2025, will address neglected diseases affecting Africans and aim to position Nigeria as a hub for medical tourism.</p>



<p class="">Turning to the energy sector, Oramah unveiled plans for the Africa Energy Bank in Abuja, starting with $5 billion in capital. AFREXIMBANK will contribute $1.25 billion to finance energy projects to ensure Africa’s energy security and promote <a href="https://theelectricityhub.com/?s=sustainable+energy+solutions">sustainable energy solutions</a>.</p>



<p class="">Prof. Oramah and Minister Edun signed a Memorandum of Understanding (MoU) for Nigeria to host AFREXIMBANK’s Annual General Meeting (AGM) in Abuja in June 2025, reflecting the strong partnership between Nigeria and the bank.</p>



<p class="">In addition, AFREXIMBANK will inaugurate the Africa Trade Centre in Abuja on April 10, 2025, reinforcing Nigeria’s status as a leading hub for trade and investment in Africa.</p>



<p class="">Minister Edun acknowledged AFREXIMBANK’s support and reaffirmed Nigeria’s commitment to leveraging these investments for national development.</p>
<p>The post <a href="https://theelectricityhub.com/afreximbank-pumps-52b-into-nigeria-for-key-projects/">AFREXIMBANK Pumps $52B into Nigeria for Key Projects</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>Major Polluters Miss U.N. Climate Target Deadline</title>
		<link>https://theelectricityhub.com/major-polluters-miss-u-n-climate-target-deadline/</link>
					<comments>https://theelectricityhub.com/major-polluters-miss-u-n-climate-target-deadline/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Tue, 11 Feb 2025 09:10:38 +0000</pubDate>
				<category><![CDATA[Carbon Emissions]]></category>
		<category><![CDATA[Climate Change]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[International News]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[On-Grid]]></category>
		<category><![CDATA[Sustainable Development]]></category>
		<category><![CDATA[Clean Energy]]></category>
		<category><![CDATA[Climate Action]]></category>
		<category><![CDATA[climate change]]></category>
		<category><![CDATA[European Union]]></category>
		<category><![CDATA[Paris Agreement]]></category>
		<category><![CDATA[Trump]]></category>
		<category><![CDATA[United Nations]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99826</guid>

					<description><![CDATA[<p>Several of the world’s largest polluters failed to meet a key U.N. deadline to submit updated climate targets, raising concerns about global climate efforts. Nearly 200 countries under the Paris&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/major-polluters-miss-u-n-climate-target-deadline/">Major Polluters Miss U.N. Climate Target Deadline</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">Major polluting nations, including China, India, and the EU, missed the U.N. deadline to submit updated climate targets under the Paris Agreement.</li>



<li class="">Despite global warming reaching 1.5°C for the first time in 2023, many countries have delayed action, raising concerns about achieving climate goals.</li>



<li class="">U.S. President Donald Trump’s rollback of Biden-era climate policies and delayed plans from other key nations further hinder global efforts to curb emissions.</li>
</ul>



<p class="">Several of the world’s largest polluters failed to meet a key U.N. deadline to submit updated climate targets, raising concerns about global climate efforts. Nearly 200 countries under the <a href="https://www.reuters.com/business/environment/most-countries-miss-un-deadline-new-climate-targets-2025-02-10/">Paris Agreement</a> needed to present plans to cut <a href="https://theelectricityhub.com/?s=emissions">emissions</a> by 2035, but major economies like China, India, and the European Union did not meet the deadline of Monday, February 10.</p>



<p class="">The 2015 Paris Climate Accord aims to limit global warming to 1.5 degrees Celsius above pre-industrial levels. In 2023, global temperatures reached that threshold for an entire year, marking the first time. Despite this, countries have made slow progress toward meeting the accord&#8217;s goals.</p>



<p class="">“The public expects strong action, especially now that global warming has hit 1.5 degrees Celsius for an entire year,” said Bill Hare, CEO of Climate Analytics. “Yet, governments have delivered little of real substance.”</p>



<p class="">Some countries, including the U.S., Britain, Brazil, Japan, and Canada, delivered new climate plans. However, U.S. President Donald Trump, who recently pulled the U.S. out of the Paris Agreement, plans to roll back Biden-era climate policies. Trump also paused federal clean energy investments, signalling a shift from previous commitments.</p>



<p class="">U.N. climate chief Simon Stiell acknowledged the missed deadline but expressed optimism, explaining that many countries continue working on their plans. “Nations take this seriously, especially with $2 trillion invested globally in <a href="https://theelectricityhub.com/?s=clean+energy">clean energy</a> last year,” Stiell said. “Taking a bit more time to finalise these plans makes sense.”</p>



<p class="">However, delays have raised concerns that climate action may lose momentum, notably after Trump reversed the U.S. climate policy stance. European Union climate chief Wopke Hoekstra explained that the bloc’s policymaking cycle did not align with the U.N. deadline but promised the EU’s plan would be ready for the COP30 summit in November.</p>



<p class="">According to a government official, India, the world’s third-largest carbon emitter, has not completed the studies needed for its climate plan. China, the top emitter, stated it would release its plan “in due course.” Other major polluters, including Indonesia, Iran, Russia, and South Africa, have also failed to submit targets, offering no clear timeline for completion.</p>



<p class="">Delays from these key nations set back global efforts to keep warming within safe limits. Experts warn that without more substantial commitments, the goal of preventing catastrophic <a href="https://theelectricityhub.com/?s=climate+impacts">climate impacts</a> remains at risk.</p>



<p class="">In 2023, the world’s first breach of the 1.5-degree threshold signalled the urgent need for drastic emissions cuts. Despite the $2 trillion invested in clean energy last year, progress remains slow, with major polluting nations trailing behind. The missed U.N. deadline adds to growing concerns that political priorities have shifted away from urgent <a href="https://theelectricityhub.com/?s=climate+action">climate action</a>.</p>
<p>The post <a href="https://theelectricityhub.com/major-polluters-miss-u-n-climate-target-deadline/">Major Polluters Miss U.N. Climate Target Deadline</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>Indonesia targets 35% renewable energy by 2034 in its ambitious power plan</title>
		<link>https://theelectricityhub.com/indonesia-targets-35-renewable-energy-by-2034-in-its-ambitious-power-plan/</link>
					<comments>https://theelectricityhub.com/indonesia-targets-35-renewable-energy-by-2034-in-its-ambitious-power-plan/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Tue, 11 Feb 2025 08:21:08 +0000</pubDate>
				<category><![CDATA[Carbon Emissions]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[Energy Transition]]></category>
		<category><![CDATA[International News]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Off-Grid]]></category>
		<category><![CDATA[Renewable Energy]]></category>
		<category><![CDATA[Renewables]]></category>
		<category><![CDATA[Sustainable Development]]></category>
		<category><![CDATA[energy development]]></category>
		<category><![CDATA[Energy mix]]></category>
		<category><![CDATA[Energy transition]]></category>
		<category><![CDATA[gas power capacity]]></category>
		<category><![CDATA[Indonesia]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99822</guid>

					<description><![CDATA[<p>On Tuesday, February 11, Indonesia&#8217;s government announced that it plans to increase its share of renewable energy in electricity supply over the next decade, prioritising solar, hydro, and geothermal power.&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/indonesia-targets-35-renewable-energy-by-2034-in-its-ambitious-power-plan/">Indonesia targets 35% renewable energy by 2034 in its ambitious power plan</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">Indonesia plans to increase its renewable energy share to 35% by 2034, with 70% of new electricity capacity from renewables.</li>



<li class="">The new plan includes 17 GW of solar, 16 GW of hydro, and 5 GW of geothermal power while adding 5 GW of coal capacity.</li>



<li class="">During the renewable energy transition, Indonesia continues to build 15 GW of gas power to support demand, especially in Java.</li>
</ul>



<p class="">On Tuesday, February 11, <a href="https://www.reuters.com/world/asia-pacific/indonesia-plans-boost-renewable-usage-new-electricity-supply-plan-2025-02-11/">Indonesia&#8217;s government</a> announced that it plans to increase its share of renewable energy in electricity supply over the next decade, prioritising solar, hydro, and geothermal power.</p>



<p class="">The new electricity plan, Rencana Umum Penyediaan Tenaga Listrik (RUPTL), will replace the 2021-2030 version. This revised plan targets 71 gigawatts (GW) of new capacity, with 70% coming from renewable sources—the previous plan aimed for 52% from renewables. Kartika Wirjoatmodjo, deputy State-Owned Enterprise Minister, said the country will raise the share of renewables in its <a href="https://theelectricityhub.com/?s=energy+mix">energy mix</a> from around 12% to 35% by 2034.</p>



<p class="">Speaking at a business forum in Jakarta, Wirjoatmodjo outlined the new plan. It includes 17 GW of solar power with battery storage support, 16 GW of hydropower, and 5 GW of geothermal energy. Wind and bioenergy will also contribute.</p>



<p class="">Despite the renewable push, Indonesia will still proceed with some coal projects. Around 5 GW of new coal capacity will come online by 2034. Wirjoatmodjo explained that these projects continue with the previous plan and remain necessary for the <a href="https://theelectricityhub.com/?s=energy+transition">energy transition</a>.</p>



<p class="">Indonesia banned new coal power plants in 2022. However, the government allows projects already in progress or linked to the natural resources processing industry as long as they include an emission reduction plan.</p>



<p class="">The country also plans to build 15 GW of <a href="https://theelectricityhub.com/?s=gas+power+capacity">gas power capacity</a> by 2034. This will help meet demand, particularly in Java, and maintain base load capacity as renewable sources scale up.</p>



<p class="">The government is finalising discussions on the new RUPTL with the state utility, Perusahaan Listrik Negara (PLN). Once complete, the plan will guide Indonesia’s <a href="https://theelectricityhub.com/?s=energy+development">energy development</a> for the next decade.</p>



<p class="">Indonesia’s renewable energy push aligns with global efforts to reduce reliance on fossil fuels and cut carbon emissions. As one of the world’s largest coal producers, the country aims to shift to a cleaner energy mix. The new plan reflects its commitment to balancing economic growth with environmental sustainability.</p>



<p class="">Renewable energy advocates support the plan, viewing it as a step toward reducing Indonesia’s carbon footprint. However, some critics argue the continued reliance on coal and gas may slow the transition to a fully renewable energy system.</p>



<p class="">Overall, the new electricity plan significantly shifts Indonesia’s energy strategy. The country is setting a course for a more sustainable energy future by increasing the focus on renewables, especially solar and hydro. Though challenges remain, the plan outlines a clear path to boost the share of <a href="https://theelectricityhub.com/?s=renewable+energy">renewable energy</a> and reduce dependence on coal.</p>
<p>The post <a href="https://theelectricityhub.com/indonesia-targets-35-renewable-energy-by-2034-in-its-ambitious-power-plan/">Indonesia targets 35% renewable energy by 2034 in its ambitious power plan</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>Trump&#8217;s Pro-Fossil Fuel Push Fails to Deter U.S. Energy Transition</title>
		<link>https://theelectricityhub.com/trumps-pro-fossil-fuel-push-fails-to-deter-u-s-energy-transition/</link>
					<comments>https://theelectricityhub.com/trumps-pro-fossil-fuel-push-fails-to-deter-u-s-energy-transition/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Mon, 10 Feb 2025 12:01:55 +0000</pubDate>
				<category><![CDATA[Carbon Emissions]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[Energy Transition]]></category>
		<category><![CDATA[International News]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Off-Grid]]></category>
		<category><![CDATA[Renewable Energy]]></category>
		<category><![CDATA[Renewables]]></category>
		<category><![CDATA[Sustainable Development]]></category>
		<category><![CDATA[America]]></category>
		<category><![CDATA[Carbon Neutrality]]></category>
		<category><![CDATA[Clean Energy]]></category>
		<category><![CDATA[Energy transition]]></category>
		<category><![CDATA[Fossil Fuels]]></category>
		<category><![CDATA[Green Energy]]></category>
		<category><![CDATA[sustainability goals]]></category>
		<category><![CDATA[Trump]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99789</guid>

					<description><![CDATA[<p>Donald Trump’s return to the presidency brings renewed attention to fossil fuels. On his first day in office, Trump signed orders to boost domestic oil production and confirmed the U.S.&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/trumps-pro-fossil-fuel-push-fails-to-deter-u-s-energy-transition/">Trump&#8217;s Pro-Fossil Fuel Push Fails to Deter U.S. Energy Transition</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">Major U.S. companies remain committed to renewable energy despite Trump&#8217;s pro-fossil fuel policies.</li>



<li class="">Market demand and investor pressure drive clean energy initiatives, keeping energy transition plans intact.</li>



<li class="">U.S. banks continue investing in renewables after exiting the Net-Zero Banking Alliance.</li>
</ul>



<p class=""><a href="https://energynews.pro/en/u-s-companies-maintain-their-energy-transition-despite-trump/">Donald Trump’s</a> return to the presidency brings renewed attention to fossil fuels. On his first day in office, Trump signed orders to boost domestic oil production and confirmed the U.S. withdrawal from the Paris Agreement. These actions raised concerns about the future of America’s <a href="https://theelectricityhub.com/?s=clean+energy">clean energy</a> plans.</p>



<p class="">However, major U.S. companies continue to commit to <a href="https://theelectricityhub.com/?s=renewable+energy">renewable energy</a>. Thierry Laborde, Deputy CEO of BNP Paribas, stated that North American companies will not reverse their energy transition plans. “Their transition plans are in place, and they will continue,” he said on France Inter. Large industrial and financial groups integrated long-term energy strategies, and government policies do not seem to change that.</p>



<p class="">Market demand and investor pressure drive this commitment. Companies are adapting to regulations promoting emissions reductions in the U.S. and globally. The pressure to reduce carbon footprints persists, regardless of changes in U.S. leadership.</p>



<p class="">Meanwhile, six central U.S. banks—Goldman Sachs, Wells Fargo, Citi, Bank of America, Morgan Stanley, and JPMorgan Chase—recently exited the United Nations&#8217; Net-Zero Banking Alliance (NZBA). This program encouraged banks to pursue <a href="https://theelectricityhub.com/?s=carbon+neutrality">carbon neutrality</a>. Their exit sparked concerns about a potential resurgence of fossil fuel financing.</p>



<p class="">Yet experts believe these banks will continue funding renewable energy projects. Laborde highlighted that “they are still massively funding <a href="https://theelectricityhub.com/?s=green+energy">green energy</a>,” pointing to the sector’s rising profitability. Despite leaving the NZBA, these financial institutions remain heavily invested in renewables due to the growing demand for cleaner energy.</p>



<p class="">The renewable energy market thrives even amid political uncertainty. In 2024, global investments in renewables reached $2 trillion, according to UN Climate estimates. U.S. energy companies diversify their energy sources to reduce reliance on unpredictable hydrocarbon prices.</p>



<p class="">This shift reflects a broader transformation in the global energy market. U.S. companies invest in fossil fuels and renewables to maintain competitiveness in a world moving toward cleaner energy. Even as Trump’s policies favour fossil fuels, the <a href="https://theelectricityhub.com/?s=energy+transition">energy transition</a> stays intact, driven by economic and industrial factors.</p>



<p class="">U.S. companies actively position themselves as leaders in traditional and renewable energy markets as the energy sector evolves. Trump’s policies may slow government-led initiatives, but private corporations remain focused on long-term <a href="https://theelectricityhub.com/?s=sustainability+goals">sustainability goals</a>.</p>



<p class="">In conclusion, Trump’s return to office will not derail the energy transition in the U.S. Major corporations and financial institutions continue pursuing clean energy, spurred by market forces, investor pressure, and global regulations. The U.S. energy market diversifies rapidly, with renewables becoming a key player. Despite political shifts, the nation’s energy transition remains strong.</p>
<p>The post <a href="https://theelectricityhub.com/trumps-pro-fossil-fuel-push-fails-to-deter-u-s-energy-transition/">Trump&#8217;s Pro-Fossil Fuel Push Fails to Deter U.S. Energy Transition</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>Everlectric Secures Funding to Accelerate EV Fleet Revolution in South Africa</title>
		<link>https://theelectricityhub.com/everlectric-secures-funding-to-accelerate-ev-fleet-revolution-in-south-africa/</link>
					<comments>https://theelectricityhub.com/everlectric-secures-funding-to-accelerate-ev-fleet-revolution-in-south-africa/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Mon, 10 Feb 2025 10:32:17 +0000</pubDate>
				<category><![CDATA[Carbon Emissions]]></category>
		<category><![CDATA[Distribution]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[On-Grid]]></category>
		<category><![CDATA[Southern Africa]]></category>
		<category><![CDATA[Sustainable Transport]]></category>
		<category><![CDATA[Electric Vehicles]]></category>
		<category><![CDATA[Everlectric]]></category>
		<category><![CDATA[IEA]]></category>
		<category><![CDATA[South Africa]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99776</guid>

					<description><![CDATA[<p>South Africa&#8217;s electric vehicle (EV) market is growing rapidly as the country shifts toward sustainable transportation. The International Energy Agency (IEA) reported that global EV stock exceeded 16 million in&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/everlectric-secures-funding-to-accelerate-ev-fleet-revolution-in-south-africa/">Everlectric Secures Funding to Accelerate EV Fleet Revolution in South Africa</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">Everlectric secures venture debt funding from Vumela Fund to expand its EV fleet leasing services for businesses in South Africa.</li>



<li class="">Record NEV sales in South Africa increased by 88% in 2024, reflecting the growing demand for electric vehicles in logistics and transport.</li>



<li class="">Comprehensive EV leasing service includes BEV panel vans, charging infrastructure, and fleet management, simplifying the transition to electric vehicles for businesses.</li>
</ul>



<p class="">South Africa&#8217;s electric vehicle (EV) market is growing rapidly as the country shifts toward <a href="https://theelectricityhub.com/?s=sustainable+transportation">sustainable transportation</a>. The International Energy Agency (<a href="https://www.bizcommunity.com/article/innovative-startup-secures-funding-to-boost-growth-and-drive-ev-adoption-in-south-africa-810423a">IEA</a>) reported that global EV stock exceeded 16 million in 2022, a 60% jump from the previous year. The surge continued with a 35% rise in 2023 and another 25% in 2024. The National Association of Automobile Manufacturers of South Africa (Naamsa) highlighted 2023 as a record year for New Energy Vehicle (NEV) sales, with an 88% increase in the third quarter of 2024 compared to the same period in 2023.</p>



<p class="">Electric, a Pretoria-based startup, capitalises on this demand by leasing commercial battery electric vehicle (BEV) panel vans to businesses, focusing on logistics service providers. The company offers a sustainable, cost-effective solution leveraging advanced technology to meet market needs.</p>



<p class="">To accelerate its growth, Everlectric secured venture debt funding from the Vumela Fund, a partnership between FNB Business Banking and Edge Growth, established in 2010. Vumela provides growth capital to black-owned small and medium enterprises (SMEs). This venture debt model enables scale-ups to secure funding without sacrificing equity, helping them grow between investment rounds.</p>



<p class="">“We partnered with Vumela at the perfect time to drive our expansion,” said Ndia Magadagela, co-founder of Electric. &#8220;This funding will help us meet our goals and strengthen our position in the market.&#8221;</p>



<p class="">Edge Growth’s Investment Principal, Philippa Lloys Ellis, commended Everlectric’s innovative solution for simplifying the transition to EV fleets in South Africa. “Electric addresses the key barriers to EV adoption, and we believe they will unlock significant growth in this market,” she said.</p>



<p class="">FNB’s Investment Capital Head and Vumela Trustee, Mike Sage, emphasised the financial benefits of switching to electricity over fuel. “Transitioning to electricity stabilises operating costs and offers a long-term, sustainable solution for businesses,” Sage noted.</p>



<p class="">Magadagela co-founded Everlectric with Paul Plummer and Wesley van der Walt. The company provides a comprehensive service, including leasing internationally manufactured BEV panel vans, access to a charging infrastructure network, and an innovative platform for fleet management. Their service reduces range anxiety and charging concerns, helping businesses easily transition to EVs.</p>



<p class="">A prominent South African retail company has already integrated Everlectric’s vehicles into its delivery fleet, reflecting its commitment to reducing carbon emissions.</p>



<p class="">With the venture debt funding, Everlectric aims to expand its operations and prove that EVs are a commercially viable option for South African businesses. Their solution breaks misconceptions about EV adoption and leads the country’s shift to cleaner, more sustainable transportation.</p>



<p class="">As the EV market grows, Everlectric stands ready to meet the rising demand and support businesses adopting electric fleets. Backed by a strong management team, innovative solutions, and robust financial support, Everlectric is poised to reshape South Africa’s transportation landscape.</p>
<p>The post <a href="https://theelectricityhub.com/everlectric-secures-funding-to-accelerate-ev-fleet-revolution-in-south-africa/">Everlectric Secures Funding to Accelerate EV Fleet Revolution in South Africa</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>It Makes No Sense to Keep Importing Fuel in Nigeria &#8211; Dan Kunle</title>
		<link>https://theelectricityhub.com/energy-expert-dan-kunle-demands-end-to-fuel-imports-backs-dangote-refinery/</link>
					<comments>https://theelectricityhub.com/energy-expert-dan-kunle-demands-end-to-fuel-imports-backs-dangote-refinery/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Mon, 10 Feb 2025 09:37:24 +0000</pubDate>
				<category><![CDATA[Carbon Emissions]]></category>
		<category><![CDATA[Distribution]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[Energy Transition]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[On-Grid]]></category>
		<category><![CDATA[West Africa]]></category>
		<category><![CDATA[Dan Kunle]]></category>
		<category><![CDATA[Dangote refinery]]></category>
		<category><![CDATA[Energy independence]]></category>
		<category><![CDATA[Energy Security]]></category>
		<category><![CDATA[Nigeria]]></category>
		<category><![CDATA[NMDPRA]]></category>
		<category><![CDATA[NNPC]]></category>
		<category><![CDATA[petroleum market]]></category>
		<category><![CDATA[Transition plan]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99773</guid>

					<description><![CDATA[<p>Energy expert Dan Kunle has slammed the Nigerian National Petroleum Corporation (NNPC) Limited and marketers for continuing to import petrol and diesel, even though the Dangote Refinery can meet local&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/energy-expert-dan-kunle-demands-end-to-fuel-imports-backs-dangote-refinery/">It Makes No Sense to Keep Importing Fuel in Nigeria &#8211; Dan Kunle</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<ul class="wp-block-list">
<li class="">Dan Kunle criticises NNPC for continuing petrol and diesel imports despite Dangote Refinery&#8217;s capacity to meet local demand.</li>



<li class="">Calls for President Tinubu&#8217;s intervention, urging a transition to self-sufficiency and prioritising local refining.</li>



<li class="">Warns of economic harm if Nigeria continues to rely on fuel imports, jeopardising future investments and energy security.</li>
</ul>



<p class="">Energy expert Dan Kunle has slammed the Nigerian National Petroleum Corporation (<a href="https://www.vanguardngr.com/2025/02/energy-expert-urges-tinubu-to-end-petrol-import-prioritise-local-refining/">NNPC</a>) Limited and marketers for continuing to import petrol and diesel, even though the Dangote Refinery can meet local demand. He criticised the ongoing imports, pointing out that the country spent N5.5 trillion on fuel imports in just four months.</p>



<p class="">Speaking on Arise TV, Kunle compared the current import surge to the infamous 1970s &#8220;Cement Armada&#8221; scandal, where excessive imports overwhelmed Nigeria’s ports during the oil boom. He expressed frustration over the government’s failure to enforce policies that would boost local refining.</p>



<p class="">Kunle reminded viewers of the Federal Executive Council&#8217;s (FEC) decision in October 2024 to allocate local crude oil to domestic refineries, especially the <a href="https://theelectricityhub.com/?s=Dangote+Refinery">Dangote Refinery</a>. He expected this move to curb imports, but the situation remains unchanged, with fuel imports still flowing into the market at an alarming rate.</p>



<p class="">“I anticipated a shift after the FEC’s decision, particularly with Dangote refining 550,000 barrels daily. Instead, imports keep flooding the market, which makes no sense,” Kunle stated. He questioned whether certain players aimed to flood the market with substandard fuel or sabotage the Dangote Refinery’s operations.</p>



<p class="">He condemned the push for continued imports, especially when countries like the United States protect local industries to stimulate their economies. Kunle urged President Bola Tinubu to demand a clear timetable from regulatory agencies to end fuel imports and focus on achieving self-sufficiency.</p>



<p class="">&#8220;Dangote Refinery stands as a strategic national asset,&#8221; Kunle asserted. &#8220;The government needs to intervene immediately and clear the roadblocks. Treating an investment like Dangote&#8217;s as a threat will scare off future investors.”</p>



<p class="">Kunle pressed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for a concrete <a href="https://theelectricityhub.com/?s=transition+plan">transition plan</a>. With the Dangote Refinery’s refining capacity and the revival of the Port Harcourt and Warri refineries, Nigeria should shift from being an importer to a net exporter of refined petroleum products.</p>



<p class="">He warned that maintaining high import levels would threaten Nigeria’s energy security and economic stability. &#8220;We must end this import racket now,&#8221; Kunle urged.</p>



<p class="">The expert called on the government to take swift action to prevent further economic damage. He argued that ignoring the Dangote Refinery’s potential would deter future investments and slow Nigeria’s progress toward <a href="https://theelectricityhub.com/?s=energy+independence">energy independence</a>.</p>



<p class="">In conclusion, Kunle appealed to President Tinubu to enforce policies prioritising local refining. He insisted that failure to do so would harm the economy and undermine Nigeria’s position as a potential leader in the global <a href="https://theelectricityhub.com/?s=petroleum+market">petroleum market</a>.</p>
<p>The post <a href="https://theelectricityhub.com/energy-expert-dan-kunle-demands-end-to-fuel-imports-backs-dangote-refinery/">It Makes No Sense to Keep Importing Fuel in Nigeria &#8211; Dan Kunle</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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		<title>Nigerian Manufacturers Criticise Power Tariff Hikes</title>
		<link>https://theelectricityhub.com/man-demands-power-supply-boost-criticises-tariff-hikes/</link>
					<comments>https://theelectricityhub.com/man-demands-power-supply-boost-criticises-tariff-hikes/#respond</comments>
		
		<dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator>
		<pubDate>Mon, 10 Feb 2025 09:20:06 +0000</pubDate>
				<category><![CDATA[Distribution]]></category>
		<category><![CDATA[Energy Storage]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Prospects & Challenge]]></category>
		<category><![CDATA[Rural Electrification]]></category>
		<category><![CDATA[West Africa]]></category>
		<category><![CDATA[economic growth]]></category>
		<category><![CDATA[Electricity supply]]></category>
		<category><![CDATA[Electricity Tariffs]]></category>
		<category><![CDATA[Energy Demands]]></category>
		<category><![CDATA[fuel inflation]]></category>
		<category><![CDATA[MAN]]></category>
		<category><![CDATA[Nigeria]]></category>
		<guid isPermaLink="false">https://theelectricityhub.com/?p=99770</guid>

					<description><![CDATA[<p>The Manufacturers Association of Nigeria (MAN) has urged the government to increase the electricity supply, which currently averages 4,000 megawatts (MW) per day. MAN&#8217;s Director-General, Segun Ajayi-Kadir, criticised the proposed&#8230; </p>
<p>The post <a href="https://theelectricityhub.com/man-demands-power-supply-boost-criticises-tariff-hikes/">Nigerian Manufacturers Criticise Power Tariff Hikes</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
]]></description>
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<ul class="wp-block-list">
<li class="">MAN urges the government to increase Nigeria’s power supply from the current 4,000MW to meet growing demand.</li>



<li class="">Director-General Segun Ajayi-Kadir criticises frequent electricity tariff hikes, stating they harm businesses and the economy.</li>



<li class="">MAN warns that higher tariffs will raise production costs, worsen inflation, and threaten jobs in the manufacturing sector.</li>
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<p class="">The Manufacturers Association of Nigeria (MAN) has urged the government to increase the electricity supply, which currently averages 4,000 megawatts (MW) per day. MAN&#8217;s Director-General, <a href="https://www.msn.com/en-us/money/markets/man-advocates-increase-in-electricity-supply-in-nigeria/ar-AA1yE41a?ocid=BingNewsVerp">Segun Ajayi-Kadir</a>, criticised the proposed tariff hike, stressing that power directly drives manufacturing and impacts production costs.</p>



<p class="">Ajayi-Kadir criticised frequent electricity tariff hikes, stating they slow down the manufacturing sector and weaken the economy. He emphasised that affordable energy is crucial for boosting industrial output and maintaining global competitiveness.</p>



<p class="">He explained that the government privatised the power sector in 2013 to improve energy supply, especially for industries. However, privatisation has failed to deliver the expected results. According to Ajayi-Kadir, operators lack the technical and financial capacities to provide consistent electricity nationwide.</p>



<p class="">Despite Nigeria&#8217;s 10,000MW installed capacity, the system cannot fully utilise it. Ajayi-Kadir noted that generation and distribution companies struggle to meet demand. Meanwhile, <a href="https://theelectricityhub.com/?s=tariffs">tariffs</a> keep rising, but supply remains poor, frustrating consumers and businesses alike.</p>



<p class="">Ajayi-Kadir cited data from the National Bureau of Statistics (NBS), showing a drop in <a href="https://theelectricityhub.com/?s=electricity+supply">electricity supply</a>. Supply reached 5,909.83 gigawatt hours (GWh) in Q2 2023 but fell to 5,612.52 GWh in Q2 2024 after a tariff increase of over 230%. This marked a 5.03% year-on-year decrease and a 2.72% quarterly decline.</p>



<p class="">Ajayi-Kadir reiterated MAN&#8217;s long-standing call to increase power beyond the current 4,000MW average. With a population of over 200 million, Nigeria needs at least 30,000MW to meet the growing energy demands of households and businesses.</p>



<p class="">The Director-General warned that the proposed tariff hike would damage Nigerian businesses. Rising production costs would fuel inflation, reduce disposable incomes, and increase unemployment. He also cautioned that more business closures would result, threatening the competitiveness of Nigerian products.</p>



<p class="">Ajayi-Kadir urged the government to prioritise improving the electricity supply to support industries and boost economic growth.</p>
<p>The post <a href="https://theelectricityhub.com/man-demands-power-supply-boost-criticises-tariff-hikes/">Nigerian Manufacturers Criticise Power Tariff Hikes</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p>
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