<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>energy sector Archives • The Electricity Hub</title> <atom:link href="https://theelectricityhub.com/tag/energy-sector/feed/" rel="self" type="application/rss+xml" /> <link>https://theelectricityhub.com/tag/energy-sector/</link> <description>Collating and Disseminating Credible Power Industry Data and Information</description> <lastBuildDate>Thu, 20 Feb 2025 09:24:36 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.7.2</generator> <image> <url>https://theelectricityhub.com/wp-content/uploads/2020/11/cropped-NEH-32x32.png</url> <title>energy sector Archives • The Electricity Hub</title> <link>https://theelectricityhub.com/tag/energy-sector/</link> <width>32</width> <height>32</height> </image> <item> <title>Brazil Joins OPEC, Amplifies Global Oil Influence</title> <link>https://theelectricityhub.com/brazil-joins-opec-amplifies-global-oil-influence/</link> <comments>https://theelectricityhub.com/brazil-joins-opec-amplifies-global-oil-influence/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Thu, 20 Feb 2025 09:24:25 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Distribution]]></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[Brazil]]></category> <category><![CDATA[cleaner energy]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[greenhouse gas (GHG) emissions]]></category> <category><![CDATA[OPEC]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=100136</guid> <description><![CDATA[<p>On February 18, 2025, Brazil officially joined the Organization of the Petroleum Exporting Countries (OPEC), marking a key moment in its energy strategy. This move boosts Brazil’s influence in the… </p> <p>The post <a href="https://theelectricityhub.com/brazil-joins-opec-amplifies-global-oil-influence/">Brazil Joins OPEC, Amplifies Global Oil Influence</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="">Brazil joins OPEC on February 18, 2025, enhancing its influence in the global oil market.</li> <li class="">The country’s vast offshore oil reserves position it as a key player among leading oil producers like Saudi Arabia and Russia.</li> <li class="">Brazil faces pressure to balance its growing oil sector with international demands for sustainable environmental practices.</li> </ul> <p class="">On February 18, 2025, Brazil officially joined the Organization of the Petroleum Exporting Countries (<a href="https://energynews.pro/en/brazil-joins-opec-charter-and-positions-itself-on-the-global-energy-market/">OPEC</a>), marking a key moment in its energy strategy. This move boosts Brazil’s influence in the global oil market.</p> <p class="">As an OPEC member, Brazil now actively participates in oil production and pricing decisions. The country is a significant player in the international oil sector with large offshore oil reserves, especially in the Santos Basin. This decision aligns Brazil with top oil producers like Saudi Arabia and Russia, enhancing its geopolitical standing.</p> <p class="">This membership offers Brazil new opportunities but also brings challenges. OPEC works to stabilise global oil markets, but member countries often clash over production quotas and strategies. Brazil must balance its economic interests, particularly its offshore oil investments, while working within the organisation’s framework.</p> <p class="">Brazil treats joining OPEC as more than just a symbolic gesture. Already one of Latin America’s largest oil producers, the country views this step as key to securing its <a href="https://theelectricityhub.com/?s=energy+sector%E2%80%99s">energy sector’s</a> stability amid fluctuating global oil prices. Brazil’s expanding oil production allows it to play a crucial role in controlling oil supply and responding to changing <a href="https://theelectricityhub.com/?s=market+demands">market demands</a>.</p> <p class="">OPEC welcomed Brazil at a time when the organisation seeks to diversify and adjust to a shifting energy landscape. The rise of renewable energy and increasing pressure on governments to cut <a href="https://theelectricityhub.com/?s=carbon+emissions">carbon emissions</a> reshape global energy markets. OPEC now faces the challenge of balancing its traditional oil production goals with these growing environmental concerns.</p> <p class="">Now an active OPEC member, Brazil faces international scrutiny over its environmental policies. While its role in the oil sector expands, the country must address rising concerns about climate change. Brazil’s involvement in OPEC heightens the demand for sustainable practices as the world pushes for a transition to <a href="https://theelectricityhub.com/?s=cleaner+energy">cleaner energy</a>.</p> <p class="">Brazil must carefully balance its economic and environmental goals. Its leadership in oil production could attract criticism, especially as global efforts to reduce <a href="https://theelectricityhub.com/?s=greenhouse+gas+emissions">greenhouse gas emissions</a> intensify. Managing its growing oil sector while addressing international expectations for environmental responsibility requires strategic foresight.</p> <p class="">Brazil’s decision to join OPEC reflects its commitment to strengthening its energy sector while navigating a complex and changing global market. This move enhances Brazil’s influence in the oil industry but increases the pressure to adopt greener strategies.</p> <p class="">In conclusion, Brazil’s OPEC membership highlights its growing role in global energy and its pursuit of economic stability. However, the country faces balancing its oil production ambitions with rising global environmental demands. As the world transitions toward cleaner energy, Brazil’s ability to manage these competing pressures will shape its future in the energy sector.</p> <p>The post <a href="https://theelectricityhub.com/brazil-joins-opec-amplifies-global-oil-influence/">Brazil Joins OPEC, Amplifies Global Oil Influence</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/brazil-joins-opec-amplifies-global-oil-influence/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Dangote Refinery Fuels Nigeria with 33 Million Litres Daily</title> <link>https://theelectricityhub.com/dangote-refinery-fuels-nigeria-with-33m-litres-daily/</link> <comments>https://theelectricityhub.com/dangote-refinery-fuels-nigeria-with-33m-litres-daily/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Fri, 07 Feb 2025 08:49:02 +0000</pubDate> <category><![CDATA[Distribution]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Nigerian Senate]]></category> <category><![CDATA[On-Grid]]></category> <category><![CDATA[Prospects & Challenge]]></category> <category><![CDATA[West Africa]]></category> <category><![CDATA[Dangote]]></category> <category><![CDATA[Dangote refinery]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[jet fuel]]></category> <category><![CDATA[NESG]]></category> <category><![CDATA[Nigeria]]></category> <category><![CDATA[oil]]></category> <category><![CDATA[PMS]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99712</guid> <description><![CDATA[<p>The Dangote Refinery now produces 33 million litres of Premium Motor Spirit (PMS) daily, meeting Nigeria’s estimated daily PMS consumption. The refinery has also increased its capacity to 550,000 barrels… </p> <p>The post <a href="https://theelectricityhub.com/dangote-refinery-fuels-nigeria-with-33m-litres-daily/">Dangote Refinery Fuels Nigeria with 33 Million Litres Daily</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="">Dangote Refinery now produces 33 million litres of PMS daily, matching Nigeria’s consumption needs and achieving 550,000 barrels per day capacity.</li> <li class="">NESG Chairman Niyi Yusuf praises Dangote’s $20 billion investment and urges the government to support more domestic projects for economic growth.</li> <li class="">Dangote calls for improved infrastructure and private sector growth, emphasising the need to protect local industries and create jobs.</li> </ul> <p class="">The Dangote Refinery now produces 33 million litres of Premium Motor Spirit (<a href="https://businessday.ng/news/article/dangote-refinery-attains-peak-pms-production-of-33m-litres-a-day/">PMS</a>) daily, meeting Nigeria’s estimated daily PMS consumption. The refinery has also increased its capacity to 550,000 barrels per day, showing rapid growth since its launch last year.</p> <p class="">The management announced these achievements on Tuesday during a visit by the Nigerian Economic Summit Group (NESG) directors to the refinery’s control room in Lagos. NESG Chairman Niyi Yusuf led the delegation and praised the refinery for boosting <a href="https://theelectricityhub.com/?s=Nigeria%E2%80%99s+fuel+supply">Nigeria’s fuel supply</a> and reducing import dependence.</p> <p class="">The refinery’s Mild Hydrocracking (MHC) unit operates at 120% capacity, while the Continuous Catalytic Reforming Unit (CCRU) performs at 90%. These units improve output and convert heavy naphtha into valuable products.</p> <p class="">In addition to meeting local demand, the refinery has exported two shipments of <a href="https://theelectricityhub.com/?s=jet+fuel">jet fuel</a> to Saudi Aramco, marking its entry into the global market.</p> <p class=""><strong>NESG Applauds Dangote’s Investment</strong></p> <p class="">During the tour, NESG Chairman Yusuf highlighted the refinery’s impact on Nigeria’s economy. He commended Aliko Dangote for building the $20 billion refinery, the world’s largest single-train refinery. Yusuf urged the government to encourage more investments of this scale to help Nigeria achieve its $1 trillion economy goal.</p> <p class="">“We must focus on domestic investments to achieve a $1 trillion economy. While others create leisure islands, Dangote is dredging to secure Nigeria’s future,” Yusuf said. “This refinery, fertiliser plant, and petrochemical complex are monumental for our economy.”</p> <p class="">Yusuf called on the government to prioritise local investors and industries, saying these investments will drive industrialisation and support Small and Medium Enterprises (<a href="https://theelectricityhub.com/?s=SMEs">SMEs</a>).</p> <p class="">“Nigeria is becoming a dumping ground for foreign goods,” Yusuf said. “With a population of over 230 million, we cannot rely on imports to meet our needs.”</p> <p class=""><strong>Dangote Calls for More Private Sector Involvement</strong></p> <p class="">Dangote emphasised the crucial role of the private sector in solving Nigeria’s problems. He stated that job creation through industrialisation remains key to addressing the country’s challenges.</p> <p class="">“When the private sector thrives, the government also benefits. For example, 52% of every naira generated by Dangote Cement goes to the government,” Dangote said. He also stressed the need for better infrastructure, as investors often have to cover the costs of providing essential services like power, roads, and ports.</p> <p class="">Dangote highlighted the example of the Benin Republic, which limits cement imports to protect its local industries. He urged Nigeria to take similar measures to safeguard domestic industries from foreign competition.</p> <p class="">The NESG team toured the fertiliser plant and admired the advanced technology and expertise of the young Nigerian engineers managing the facility. They also commended Dangote’s determination to overcome challenges and build a significant project.</p> <p class="">The Dangote Refinery’s success boosts <a href="https://theelectricityhub.com/?s=Nigeria%E2%80%99s+energy+sector">Nigeria’s energy sector</a> and economy. It demonstrates the transformative power of private sector investment and moves Nigeria closer to self-sufficiency in key industries.</p> <p>The post <a href="https://theelectricityhub.com/dangote-refinery-fuels-nigeria-with-33m-litres-daily/">Dangote Refinery Fuels Nigeria with 33 Million Litres Daily</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/dangote-refinery-fuels-nigeria-with-33m-litres-daily/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Morocco Targets 9,338 MW in Renewable Energy by 2029</title> <link>https://theelectricityhub.com/morocco-targets-9338-mw-in-renewable-energy-by-2029/</link> <comments>https://theelectricityhub.com/morocco-targets-9338-mw-in-renewable-energy-by-2029/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Tue, 04 Feb 2025 11:56:33 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[News]]></category> <category><![CDATA[North Africa]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Rural Electrification]]></category> <category><![CDATA[ANRE]]></category> <category><![CDATA[cleaner energy]]></category> <category><![CDATA[energy production]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[Energy transition]]></category> <category><![CDATA[Morocco]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99599</guid> <description><![CDATA[<p>National Electricity Regulatory Authority (ANRE) in Morocco has raised the country’s renewable energy capacity target to 9,338 megawatts (MW) by 2029, a 29% increase from the previous year. ANRE’s board… </p> <p>The post <a href="https://theelectricityhub.com/morocco-targets-9338-mw-in-renewable-energy-by-2029/">Morocco Targets 9,338 MW in Renewable Energy by 2029</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="">Morocco will raise renewable energy capacity to 9,338 MW by 2029, a 29% increase from last year.</li> <li class="">ANRE improves grid flexibility, allowing better reallocation between transmission and distribution systems.</li> <li class="">Clear guidelines and published grid capacity figures aim to attract more investments in renewable energy.</li> </ul> <p class=""><span style="box-sizing: border-box; margin: 0px; padding: 0px;">National Electricity Regulatory Authority (<a href="https://www.evwind.es/2025/02/03/morocco-approves-expansion-of-wind-power-and-photovoltaic-pv-capacity-to-9338-mw-by-2029/104203" target="_blank">ANRE</a>) in Morocco h</span>as raised the country’s renewable energy capacity target to 9,338 megawatts (MW) by 2029, a 29% increase from the previous year.</p> <p class="">ANRE’s board met in Rabat to set the new grid capacity for 2025-2029, continuing Morocco’s push to modernise its energy sector and boost <a href="https://theelectricityhub.com/?s=renewable+energy+output">renewable energy output</a>. The board reached this decision after consulting with stakeholders to assess the readiness of the transmission and distribution networks.</p> <p class="">ANRE has introduced key improvements, such as the flexibility to reallocate unused grid capacity between transmission and distribution systems. This change allows the grid to balance <a href="https://theelectricityhub.com/?s=energy+production">energy production</a> and consumption more effectively while optimising existing infrastructure. These adjustments will help reduce energy delivery disruptions and improve grid stability.</p> <p class="">By providing more precise guidelines, ANRE aims to attract more investors and industry players. ANRE will publish grid accommodation capacity figures to maintain transparency and help public and private operators make informed decisions. These steps seek to boost investor confidence and further support the growth of Morocco’s renewable energy sector.</p> <p class="">Morocco continues its transition to <a href="https://theelectricityhub.com/?s=cleaner+energy">cleaner energy</a>, with plans to integrate more renewable projects into the grid by 2029. These efforts will reduce reliance on fossil fuels and align with international climate commitments.</p> <p class="">ANRE’s focus on grid flexibility will help manage energy demand fluctuations as the country adds more solar and wind energy. The new measures aim to improve the grid’s ability to handle variable energy inputs, ensuring a <a href="https://theelectricityhub.com/?s=stable+power+supply">stable power supply</a>.</p> <p class="">Morocco is a leader in renewable energy in Africa, investing heavily in large-scale solar and wind projects. These initiatives support growing energy needs while reducing <a href="https://theelectricityhub.com/?s=carbon+emissions">carbon emissions</a>. The new capacity target brings Morocco closer to its long-term energy goals.</p> <p class="">The decision to increase capacity underscores the importance of regularly updating <a href="https://theelectricityhub.com/?s=grid+infrastructure">grid infrastructure</a> to keep pace with advancements in renewable energy. By staying proactive, Morocco can maintain the efficiency and resilience of its energy sector.</p> <p class="">Government agencies and private investors welcome the new target, which creates opportunities for <a href="https://theelectricityhub.com/?s=renewable+energy+projects">renewable energy projects</a> and strengthens Morocco’s energy independence. The increased capacity will allow more projects to contribute to the national grid, creating jobs.</p> <p class="">Overall, Morocco’s latest move reaffirms its commitment to sustainable energy development. As the country expands its renewable capacity, it remains a key player in the global shift toward cleaner energy solutions. The new target sets a clear path for Morocco’s next <a href="https://theelectricityhub.com/?s=energy+transition">energy transition</a> phase, ensuring renewable sources play a central role in the country’s future.</p> <p>The post <a href="https://theelectricityhub.com/morocco-targets-9338-mw-in-renewable-energy-by-2029/">Morocco Targets 9,338 MW in Renewable Energy by 2029</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/morocco-targets-9338-mw-in-renewable-energy-by-2029/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>TotalEnergies Boosts Efficiency with IFS Cloud</title> <link>https://theelectricityhub.com/totalenergies-boosts-efficiency-with-ifs-cloud/</link> <comments>https://theelectricityhub.com/totalenergies-boosts-efficiency-with-ifs-cloud/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Tue, 04 Feb 2025 08:21:23 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[International News]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Energy market]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[global energy market]]></category> <category><![CDATA[IFS Cloud]]></category> <category><![CDATA[TotalEnergies]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99569</guid> <description><![CDATA[<p>TotalEnergies has implemented the IFS Cloud solution to centralise and optimise global asset management. The platform integrates maintenance, operations, and monitoring processes, ensuring better cost control and extending equipment lifespan.… </p> <p>The post <a href="https://theelectricityhub.com/totalenergies-boosts-efficiency-with-ifs-cloud/">TotalEnergies Boosts Efficiency with IFS Cloud</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="">TotalEnergies implements IFS Cloud to centralise global asset management, integrating maintenance, operations, and monitoring into one platform.</li> <li class="">The platform enhances efficiency, reduces downtime, and boosts asset profitability using advanced ERP, EAM, and Industrial AI technologies.</li> <li class="">This move strengthens TotalEnergies’ competitive edge and supports its broader digital transformation strategy in the global energy market.</li> </ul> <p class=""><a href="https://energynews.pro/en/totalenergies-adopts-ifs-cloud-to-optimize-global-asset-management/">TotalEnergies</a> has implemented the IFS Cloud solution to centralise and optimise global asset management. The platform integrates maintenance, operations, and monitoring processes, ensuring better cost control and extending equipment lifespan.</p> <p class="">With IFS Cloud powered by ERP (Enterprise Resource Planning) and EAM (Enterprise Asset Management) technologies, over 13,500 users worldwide now access a unified asset management system. This move aligns with TotalEnergies’ broader digital transformation strategy to enhance global operations and asset management.</p> <p class="">By deploying IFS Cloud, TotalEnergies streamlines processes, boosts efficiency, and reduces downtime across its assets. The platform integrates with future ERP systems to ensure seamless continuity between exploration, production, refining, and chemical operations.</p> <p class="">IFS Cloud consolidates maintenance and service functionalities into a single data model. This integration cuts equipment downtime and boosts asset profitability by enhancing predictive and corrective maintenance.</p> <p class="">TotalEnergies relies on IFS Cloud’s Industrial Artificial Intelligence (AI) technologies to optimise maintenance, improve performance, and reduce operational costs. AI adds a key layer of efficiency, supporting the company’s focus on staying competitive.</p> <p class="">Adopting a single platform is a strategic step in TotalEnergies’ digital transformation. By centralising operations, TotalEnergies secures asset performance, reduces management costs, and strengthens its competitive edge in the <a href="https://theelectricityhub.com/?s=energy+market">energy market</a>.</p> <p class="">TotalEnergies stays ahead in a rapidly evolving industry by integrating advanced technologies like Industrial AI into its daily operations. This decision to future-proof its processes helps the company proactively optimise business performance.</p> <p class="">The IFS Cloud platform supports TotalEnergies’ vision for enhanced operational performance. It ensures better coordination between different business functions, from exploration and production to refining and chemical activities.</p> <p class="">By centralising global asset management, TotalEnergies improves the efficiency and profitability of its maintenance operations. The platform gives users real-time access to monitor assets, lowering the risk of equipment failure and minimising downtime.</p> <p class="">The collaboration between TotalEnergies and IFS highlights their shared commitment to operational excellence. Both companies drive forward the energy industry’s evolving needs without depending on promotional strategies.</p> <p class="">TotalEnergies demonstrates its focus on innovation and growth by adopting IFS Cloud. This investment in digital solutions positions the company for long-term success in the global energy market.</p> <p class="">In conclusion, TotalEnergies’ implementation of IFS Cloud signifies a significant milestone in its digital transformation. The platform enhances operational efficiency, reduces costs, and helps maintain TotalEnergies’ strong presence in the global <a href="https://theelectricityhub.com/?s=energy+sector">energy sector</a>. This move underlines the company’s dedication to innovation and technological advancements.</p> <p>The post <a href="https://theelectricityhub.com/totalenergies-boosts-efficiency-with-ifs-cloud/">TotalEnergies Boosts Efficiency with IFS Cloud</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/totalenergies-boosts-efficiency-with-ifs-cloud/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>DeepSeek’s R1 Disrupts AI Energy Consumption</title> <link>https://theelectricityhub.com/deepseeks-r1-disrupts-ai-energy-consumption/</link> <comments>https://theelectricityhub.com/deepseeks-r1-disrupts-ai-energy-consumption/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Fri, 31 Jan 2025 10:49:47 +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[AI]]></category> <category><![CDATA[Clean Energy]]></category> <category><![CDATA[DeepSeek]]></category> <category><![CDATA[electricity use]]></category> <category><![CDATA[Energy Consumption]]></category> <category><![CDATA[energy demand]]></category> <category><![CDATA[Energy grid]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[sustainable future]]></category> <category><![CDATA[USA]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99486</guid> <description><![CDATA[<p>The rise of artificial intelligence (AI) has driven a surge in data centres’ energy consumption worldwide. However, Chinese AI leader DeepSeek is transforming the landscape with its energy-efficient R1 model.… </p> <p>The post <a href="https://theelectricityhub.com/deepseeks-r1-disrupts-ai-energy-consumption/">DeepSeek’s R1 Disrupts AI Energy Consumption</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="">DeepSeek’s R1 model dramatically reduces AI energy consumption, requiring only 2,000 Nvidia chips compared to typical systems.</li> <li class="">Energy market disruption follows the R1’s release, with significant energy company stocks dropping over 20% due to AI’s improved efficiency.</li> <li class="">Sustainability concerns grow as AI demand rises, but DeepSeek’s efficient model could shift the industry toward reduced reliance on traditional energy resources.</li> </ul> <p class="">The rise of artificial intelligence (<a href="https://energynews.pro/en/the-impact-of-deepseek-on-ai-energy-needs-a-new-era-for-data-centers/">AI</a>) has driven a surge in data centres’ energy consumption worldwide. However, Chinese AI leader DeepSeek is transforming the landscape with its energy-efficient R1 model. The R1 recently surpassed ChatGPT as the most downloaded app on the U.S. Apple App Store. Unlike typical AI systems that demand vast computing power, the R1 uses only about 2,000 Nvidia chips, significantly reducing energy needs.</p> <p class="">According to the International Energy Agency (IEA), data centres consume nearly 1% of global electricity. Tech giants like Google, Microsoft, and Amazon continue investing billions into expanding data centres to support AI’s growth, increasing <a href="https://theelectricityhub.com/?s=energy+consumption">energy consumption</a>. In contrast, DeepSeek’s R1 model slashes these energy demands while delivering strong AI performance.</p> <p class="">DeepSeek’s R1 has already impacted the <a href="https://theelectricityhub.com/?s=energy+sector">energy sector</a>. The stock of major energy companies, including Constellation Energy, dropped by over 20% after the announcement of R1’s energy efficiency. Analysts now foresee a reduction in electricity demand from data centres as AI becomes more energy-efficient, disrupting previous growth projections for the energy market.</p> <p class="">The IEA reports that energy consumption from data centres could double between 2022 and 2026, potentially reaching levels equal to Japan’s annual <a href="https://theelectricityhub.com/?s=electricity+use">electricity use</a>. While companies have improved data centre efficiency, AI’s growing demand shows no sign of slowing. DeepSeek’s model could help ease this demand, though experts like Andrew Lensen from Victoria University of Wellington caution against unintended outcomes. Lensen warns that increased efficiency might lead to higher overall consumption, a phenomenon known as Jevons’ Paradox, as companies push AI performance further.</p> <p class="">Tech companies like Microsoft and Meta have already secured <a href="https://theelectricityhub.com/?s=clean+energy">clean energy</a> sources for their data centres to tackle rising energy needs. These efforts aim to manage growing demand, though concerns about long-term sustainability persist. If DeepSeek proves the R1’s efficiency, it could shift the industry towards more sustainable AI models, reducing dependence on <a href="https://theelectricityhub.com/?s=traditional+energy+resources">traditional energy resources</a>.</p> <p class="">Despite advancements in AI energy efficiency, experts remain cautious. The relentless drive for more advanced AI models could continue to fuel <a href="https://theelectricityhub.com/?s=energy+demand">energy demand</a>, even as individual systems become more efficient. However, DeepSeek’s R1 model offers a potential solution for managing AI’s environmental impact.</p> <p class="">As AI development accelerates, the need to balance technological progress with sustainability becomes more urgent. DeepSeek’s R1 model presents a new approach, demonstrating that the tech industry can minimise AI’s environmental costs without sacrificing performance. If more companies adopt energy-efficient models like the R1, the AI industry could reduce its dependence on the global <a href="https://theelectricityhub.com/?s=energy+grid">energy grid</a> and move towards a more sustainable future. </p> <p>The post <a href="https://theelectricityhub.com/deepseeks-r1-disrupts-ai-energy-consumption/">DeepSeek’s R1 Disrupts AI Energy Consumption</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/deepseeks-r1-disrupts-ai-energy-consumption/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Morocco Invests €420M in Gas Plant to Secure Energy Future</title> <link>https://theelectricityhub.com/morocco-invests-e420m-in-gas-plant-to-secure-energy-future/</link> <comments>https://theelectricityhub.com/morocco-invests-e420m-in-gas-plant-to-secure-energy-future/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Tue, 28 Jan 2025 15:22:12 +0000</pubDate> <category><![CDATA[Carbon Emissions]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[News]]></category> <category><![CDATA[North Africa]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Energy independence]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[gas infrastructure]]></category> <category><![CDATA[Morocco]]></category> <category><![CDATA[renewable energy project]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99375</guid> <description><![CDATA[<p>Morocco will build a 990-megawatt (MW) gas power plant, investing €420 million to strengthen energy security and meet rising electricity demand. The Moroccan Capital Market Authority (AMMC) revealed the financial… </p> <p>The post <a href="https://theelectricityhub.com/morocco-invests-e420m-in-gas-plant-to-secure-energy-future/">Morocco Invests €420M in Gas Plant to Secure Energy Future</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="">Morocco is investing €420 million to build a 990MW gas power plant to ensure energy security and meet growing electricity demand.</li> <li class="">The project will be funded through a 20% contribution from ONEE and 80% from structured loans, with support from Attijariwafa Bank, AfDB, and two securitisation funds.</li> <li class="">The plant will primarily use natural gas imported from Spain, with diesel as a backup, while Morocco continues to expand its renewable energy capacity.</li> </ul> <p class="">Morocco will build a 990-megawatt (MW) gas power plant, investing €420 million to strengthen energy security and meet rising electricity demand. The Moroccan Capital Market Authority (<a href="https://energynews.pro/en/morocco-a-e420-million-project-for-a-990-mw-gas-power-plant/">AMMC</a>) revealed the financial details, marking a significant step toward the country’s goal of <a href="https://theelectricityhub.com/?s=energy+independence">energy independence</a>.</p> <p class="">The National Office of Electricity and Drinking Water (ONEE) will contribute 20% of the funding, while structured loans and financial instruments will cover 80%. Attijariwafa Bank and the African Development Bank (AfDB) lead the list of lenders. FT Nord Energy and FT Flexenergy, two securitisation funds, will diversify funding sources and reduce costs.</p> <p class="">The plant will run primarily on natural gas imported from Spain via pipeline. Diesel will serve as a backup fuel in case of supply disruptions, ensuring resilience in the face of geopolitical risks in the region.</p> <p class="">Morocco began diversifying its energy sources after the gas agreement with Algeria ended in 2021. The country continues expanding its <a href="https://theelectricityhub.com/?s=renewable+energy">renewable energy</a> capacity but still falls short of meeting electricity demand. This gas plant will help stabilise the grid while Morocco develops more <a href="https://theelectricityhub.com/?s=renewable+projects">renewable projects</a>.</p> <p class="">Morocco aims to achieve energy independence by tapping into gas and renewable sources and reducing its reliance on external energy supplies. The plant will use existing infrastructure to minimise costs and speed up development.</p> <p class="">In addition to enhancing energy security, the project will create jobs during construction and help stabilise energy prices once operational. Lower energy costs could attract more industrial investment, supporting Morocco’s economic growth.</p> <p class="">Morocco’s energy strategy focuses on balancing traditional and renewable sources. While the country is pushing forward with solar, wind, and hydro projects, these efforts remain ongoing. Gas will remain necessary until renewable energy can fully meet Morocco’s electricity needs.</p> <p class="">This investment in <a href="https://theelectricityhub.com/?s=gas+infrastructure">gas infrastructure</a> reflects Morocco’s pragmatic approach to energy security. While the long-term goal is to transition fully to renewable energy, the country recognises the immediate need for reliable power. The plant offers a practical solution to meet current demands while renewable projects continue to grow.</p> <p class="">Although Morocco has set ambitious renewable energy targets, gas will remain a critical part of the energy mix in the near term. This project highlights the government’s balanced approach, ensuring energy stability while working toward long-term sustainability.</p> <p class="">With the 990MW gas plant, Morocco is positioning itself as a key player in the regional energy market. The increased capacity will boost the country’s standing in North Africa’s <a href="https://theelectricityhub.com/?s=energy+sector">energy sector</a>.</p> <p class="">Morocco is making a cost-effective investment in its energy future by securing funding from various sources and leveraging existing infrastructure. The gas plant will meet the country’s immediate electricity needs while supporting the broader goal of transitioning to renewable energy. </p> <p>The post <a href="https://theelectricityhub.com/morocco-invests-e420m-in-gas-plant-to-secure-energy-future/">Morocco Invests €420M in Gas Plant to Secure Energy Future</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/morocco-invests-e420m-in-gas-plant-to-secure-energy-future/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Zambia-Tanzania Project to Strengthen Regional Energy Ties</title> <link>https://theelectricityhub.com/zambia-tanzania-project-to-strengthen-regional-energy-ties/</link> <comments>https://theelectricityhub.com/zambia-tanzania-project-to-strengthen-regional-energy-ties/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Sat, 25 Jan 2025 17:55:02 +0000</pubDate> <category><![CDATA[Distribution]]></category> <category><![CDATA[East Africa]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Metering]]></category> <category><![CDATA[News]]></category> <category><![CDATA[On-Grid]]></category> <category><![CDATA[Rural Electrification]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[Energy Security]]></category> <category><![CDATA[Power Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Tanzania]]></category> <category><![CDATA[Zambia]]></category> <category><![CDATA[ZTIP]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99259</guid> <description><![CDATA[<p>The Zambia-Tanzania Interconnector (ZTIP) project, worth $292 million, will enhance electricity exchanges between Zambia and Tanzania. This development marks a significant step toward improving energy integration across sub-Saharan Africa. Around… </p> <p>The post <a href="https://theelectricityhub.com/zambia-tanzania-project-to-strengthen-regional-energy-ties/">Zambia-Tanzania Project to Strengthen Regional Energy Ties</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 $292 million Zambia-Tanzania Interconnector (ZTIP) will strengthen electricity exchanges between Zambia and Tanzania, improving regional energy integration.</li> <li class="">The project will upgrade Zambia’s power grid with 330-kilovolt transmission lines, allowing greater integration of renewable energy and reducing reliance on hydropower.</li> <li class="">ZTIP will connect Zambia and Tanzania to larger regional power pools, boosting economic growth, lowering energy costs, and attracting more investments in the energy sector.</li> </ul> <p class="">The <a href="https://energynews.pro/en/the-zambia-tanzania-interconnector-project-a-lever-for-energy-integration-in-africa/">Zambia-Tanzania</a> Interconnector (ZTIP) project, worth $292 million, will enhance electricity exchanges between Zambia and Tanzania. This development marks a significant step toward improving energy integration across sub-Saharan Africa.</p> <p class="">Around 570 million people in sub-Saharan Africa still lack electricity. The region’s outdated infrastructure, low investment, and poor energy policies have contributed to this gap. The ZTIP project, supported by international financiers including the World Bank, the UK’s Foreign, Commonwealth & Development Office (FCDO), the European Union (EU), and the International Development Association (IDA), aims to address these challenges.</p> <p class="">The project will upgrade electrical transmission between the two countries. It will build 330-kilovolt transmission lines that will strengthen Zambia’s <a href="https://theelectricityhub.com/?s=power+grid.">power grid.</a> This upgrade will allow Zambia to integrate more renewable energy into its system and reduce the country’s reliance on hydropower, which is vulnerable to climate change.</p> <p class="">The ZTIP project will contribute to regional energy cooperation. It will connect Zambia and Tanzania to larger power pools, such as the Southern African Power Pool (SAPP) and the Eastern Africa Power Pool (EAPP). These interconnected networks will span Cape Town to Cairo, creating the world’s largest geographical <a href="https://theelectricityhub.com/?s=energy+market">energy market</a>. The network will facilitate power exchanges across multiple countries in the region.</p> <p class="">The project will bring significant economic benefits. With more reliable and diverse energy access, countries in the region will experience lower energy costs and, more importantly, economic growth. Reliable electricity will also encourage the development of new industries. Additionally, transmission infrastructure investments will attract more energy sector funding.</p> <p class="">The ZTIP project aligns with Africa’s strategy to diversify energy sources. While hydropower remains a significant energy source in the region, solar, wind, and geothermal power hold considerable potential. These renewable sources will improve <a href="https://theelectricityhub.com/?s=energy+security">energy security</a> and reduce dependence on fossil fuels.</p> <p class="">The ZTIP project can serve as a model for other regional energy initiatives. Since 1995, Africa has worked to develop energy pools for cross-border electricity exchanges. Projects like ZTIP will strengthen these initiatives and help create a more connected, energy-secure Africa.</p> <p class="">The ZTIP project represents a key development in Africa’s energy integration efforts. Improving transmission infrastructure and supporting <a href="https://theelectricityhub.com/?s=renewable+energy">renewable energy</a> will lower energy costs and increase electricity access. This project will also attract further investment in the <a href="https://theelectricityhub.com/?s=energy+sector">energy sector</a>, supporting economic growth. As Africa diversifies its energy sources, the ZTIP project will offer a model for future initiatives that improve electricity access and integration across the continent.</p> <p>The post <a href="https://theelectricityhub.com/zambia-tanzania-project-to-strengthen-regional-energy-ties/">Zambia-Tanzania Project to Strengthen Regional Energy Ties</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/zambia-tanzania-project-to-strengthen-regional-energy-ties/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Eswatini Powers Up with Lower Maguduza Hydro</title> <link>https://theelectricityhub.com/eswatini-powers-up-with-lower-maguduza-hydro/</link> <comments>https://theelectricityhub.com/eswatini-powers-up-with-lower-maguduza-hydro/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Sat, 25 Jan 2025 17:53:36 +0000</pubDate> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Off-Grid]]></category> <category><![CDATA[Renewable Energy]]></category> <category><![CDATA[Renewables]]></category> <category><![CDATA[Southern Africa]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[Clean Energy]]></category> <category><![CDATA[Energy independence]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[Eswatini]]></category> <category><![CDATA[hydroelectric project]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99255</guid> <description><![CDATA[<p>Eswatini’s energy sector has made significant progress with the financial closure of the Lower Maguduza hydroelectric project. The 13.5 MW project, led by African Clean Energy Developments (ACED) and EIMS… </p> <p>The post <a href="https://theelectricityhub.com/eswatini-powers-up-with-lower-maguduza-hydro/">Eswatini Powers Up with Lower Maguduza Hydro</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 lower Maguduza hydroelectric project (13.5 MW) marks a significant step in Eswatini’s energy security and clean energy goals.</li> <li class="">ACED and EIMS Africa lead the project, which is financed by Standard Bank and local investors. A power purchase agreement with EEC ensures long-term energy sales.</li> <li class="">The project will create local jobs and contribute to regional renewable energy development, serving as a model for other African nations.</li> </ul> <p class="">Eswatini’s energy sector has made significant progress with the financial closure of the Lower Maguduza <a href="https://theelectricityhub.com/?s=hydroelectric+project">hydroelectric project</a>. The 13.5 MW project, led by African Clean Energy Developments (<a href="https://energynews.pro/en/launch-of-the-lower-maguduza-hydroelectric-project-in-eswatini-a-step-towards-energy-self-sufficiency/">ACED</a>) and EIMS Africa, will soon begin construction. The project supports Eswatini’s efforts to strengthen energy security and reduce dependence on fossil fuels.</p> <p class="">ACED and EIMS Africa are developing their first hydroelectric project in Eswatini. According to the World Bank, Eswatini will achieve an electrification rate of 82% by 2022, with renewables already contributing 65% to the energy mix. The Lower Maguduza project will increase that share, advancing the country’s <a href="https://theelectricityhub.com/?s=clean+energy+goals">clean energy goals</a>.</p> <p class="">Standard Bank and local investors secured the project’s financing, highlighting the growing role of regional financial institutions in Southern Africa’s <a href="https://theelectricityhub.com/?s=renewable+energy+sector">renewable energy sector</a>. The Eswatini Electricity Company (EEC) signed a power purchase agreement (PPA), ensuring long-term energy sales. This agreement aims to reduce Eswatini’s reliance on energy imports and strengthen the country’s energy stability.</p> <p class="">The project will also generate jobs during its construction and commissioning phases, benefiting the local economy. James Cumming, CEO of ACED, emphasised the project’s importance in supporting regional development and enhancing <a href="https://theelectricityhub.com/?s=energy+independence">energy independence</a>.</p> <p class="">The Lower Maguduza project contributes to a broader regional effort to expand renewable energy. ACED and EIMS Africa have already completed 500 MW of renewable projects in two years. They also manage over 1 GW through South Africa’s Renewable Energy Independent Power Producer Procurement Programme (REIPPPP). The Eswatini project could serve as a model for other regional countries.</p> <p class="">Eswatini’s pursuit of energy self-sufficiency through projects like Lower Maguduza will foster economic growth and social development. As the country reduces its dependence on energy imports, it also sets an example for other African nations. Other countries on the continent are pursuing similar <a href="https://theelectricityhub.com/?s=renewable+energy+projects">renewable energy projects</a>, accelerating the region’s transition to clean energy.</p> <p class="">With the financial closure secured, the Lower Maguduza hydroelectric project will strengthen Eswatini’s renewable energy profile, create local jobs, and set a standard for similar projects in Southern Africa.</p> <p>The post <a href="https://theelectricityhub.com/eswatini-powers-up-with-lower-maguduza-hydro/">Eswatini Powers Up with Lower Maguduza Hydro</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/eswatini-powers-up-with-lower-maguduza-hydro/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Nigeria Nets $6.7 Billion Energy Boost in 2024 – Presidency</title> <link>https://theelectricityhub.com/nigeria-nets-6-7-billion-energy-boost-in-2024-presidency/</link> <comments>https://theelectricityhub.com/nigeria-nets-6-7-billion-energy-boost-in-2024-presidency/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Fri, 24 Jan 2025 08:00:13 +0000</pubDate> <category><![CDATA[Distribution]]></category> <category><![CDATA[Energy Storage]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[Metering]]></category> <category><![CDATA[News]]></category> <category><![CDATA[On-Grid]]></category> <category><![CDATA[Prospects & Challenge]]></category> <category><![CDATA[Rural Electrification]]></category> <category><![CDATA[Sustainable Development]]></category> <category><![CDATA[West Africa]]></category> <category><![CDATA[Energy growth]]></category> <category><![CDATA[Energy Infrastructure]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[Nigeria]]></category> <category><![CDATA[Olu Verheijen]]></category> <category><![CDATA[Sustainable Energy]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99213</guid> <description><![CDATA[<p>Nigeria’s energy sector attracted $6.7 billion in investments in 2024, according to a report from the Special Adviser to the President on Energy, Mrs. Olu Verheijen. The ‘Presidency Energy Sector… </p> <p>The post <a href="https://theelectricityhub.com/nigeria-nets-6-7-billion-energy-boost-in-2024-presidency/">Nigeria Nets $6.7 Billion Energy Boost in 2024 – Presidency</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="">Nigeria secured $6.7 billion in energy investments in 2024, with $5.5 billion in oil and gas.</li> <li class="">Major acquisitions include Renaissance Consortium’s $1.3 billion purchase of Shell Petroleum Development Company and Seplat Energy’s $1.3 billion acquisition of Mobil Producing Nigeria.</li> <li class="">SNEPCO invested $5 billion in the Bonga North Deep Offshore Project, while the government allocated $400 million for metering and $700 million for clean mobility and cooking initiatives.</li> </ul> <p class="">Nigeria’s energy sector attracted $6.7 billion in investments in 2024, according to a report from the Special Adviser to the President on Energy, <a href="https://www.vanguardngr.com/2025/01/nigerias-energy-sector-attracted-6-7bn-investment-in-2024/">Mrs. Olu Verheijen</a>. The ‘Presidency Energy Sector Wrap-Up 2024’ shows that $5.5 billion came from oil and gas.</p> <p class="">Renaissance Consortium led the acquisitions with a $1.3 billion purchase of Shell Petroleum Development Company. Seplat Energy was followed by acquiring Mobil and producing Nigeria Unlimited from ExxonMobil for $1.3 billion. Chappal Energies bought Equinor Nigeria Energy Company for $1.2 billion, while Oando Plc purchased Nigerian Agip Oil Company for $800 million.</p> <p class="">“These acquisitions open up onshore fields for ambitious indigenous companies, driving increased production,” the report states. This shift to local ownership boosts Nigeria’s oil and gas output, securing <a href="https://theelectricityhub.com/?s=energy+growth">energy growth</a> and stability.</p> <p class="">The federal government allocated $400 million to the Presidential Metering Initiative to improve electricity access. Another $700 million went to clean mobility and cooking initiatives, which promote more <a href="https://theelectricityhub.com/?s=sustainable+energy+solutions">sustainable energy solutions</a>.</p> <p class="">Verheijen’s report outlines significant oil and gas projects that benefited from tax incentives for onshore and shallow water non-associated gas (NAG) and profound offshore oil developments. SNEPCO invested $5 billion in the Bonga North Deep Offshore Project, the first greenfield project in over a decade, aiming to produce 110,000 barrels of oil daily.</p> <p class="">Total Energies and the Nigerian National Petroleum Company (NNPC) Limited invested $550 million in the Ubeta non-associated gas project. These projects aim to strengthen Nigeria’s <a href="https://theelectricityhub.com/?s=energy+infrastructure">energy infrastructure</a> and improve domestic gas supply.</p> <p class="">Verheijen believes Nigeria will attract $5 billion in gas investments by 2029. These investments will boost local gas use and expand export opportunities, supporting Nigeria’s long-term energy growth. She emphasised that continuous investments are essential for securing Nigeria’s energy future.</p> <p class="">In 2024, investments in Nigeria’s energy sector reflected strong interest, especially in oil and gas. Indigenous ownership plays a critical role in increasing production and ensuring <a href="https://theelectricityhub.com/?s=energy+security">energy security</a>. With major projects like Bonga North and Ubeta, Nigeria plans to expand its oil and gas output in the coming years.</p> <p class="">The report highlights Nigeria’s efforts to diversify its energy sources. Government investments in clean energy and electricity access initiatives further emphasise a commitment to <a href="https://theelectricityhub.com/?s=sustainable+energy">sustainable energy</a>. Verheijen stressed that ongoing investments position Nigeria to emerge as a regional energy leader.</p> <p>The post <a href="https://theelectricityhub.com/nigeria-nets-6-7-billion-energy-boost-in-2024-presidency/">Nigeria Nets $6.7 Billion Energy Boost in 2024 – Presidency</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/nigeria-nets-6-7-billion-energy-boost-in-2024-presidency/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Transgrid Enerco Acquires Eko DisCo in a $200M Deal</title> <link>https://theelectricityhub.com/transgrid-enerco-acquires-eko-disco-in-a-200m-deal/</link> <comments>https://theelectricityhub.com/transgrid-enerco-acquires-eko-disco-in-a-200m-deal/#respond</comments> <dc:creator><![CDATA[Oshionameh Ajayi]]></dc:creator> <pubDate>Thu, 23 Jan 2025 08:36:34 +0000</pubDate> <category><![CDATA[Distribution]]></category> <category><![CDATA[Energy Transition]]></category> <category><![CDATA[Metering]]></category> <category><![CDATA[News]]></category> <category><![CDATA[Nigerian Senate]]></category> <category><![CDATA[On-Grid]]></category> <category><![CDATA[Prospects & Challenge]]></category> <category><![CDATA[Rural Electrification]]></category> <category><![CDATA[West Africa]]></category> <category><![CDATA[Eko DisCo]]></category> <category><![CDATA[Electricity distribution]]></category> <category><![CDATA[energy sector]]></category> <category><![CDATA[Nigeria]]></category> <category><![CDATA[Nigeriria's power sector]]></category> <category><![CDATA[power generation]]></category> <category><![CDATA[power sector]]></category> <category><![CDATA[Transgrid Enerco]]></category> <guid isPermaLink="false">https://theelectricityhub.com/?p=99145</guid> <description><![CDATA[<p>Transgrid Enerco Limited, a consortium of Stanbic IBTC Infrastructure Growth Fund (SIIF), North-South Power Company Limited (NSP), and Axxela Limited acquired a 60% equity stake in Eko Electricity Distribution Company… </p> <p>The post <a href="https://theelectricityhub.com/transgrid-enerco-acquires-eko-disco-in-a-200m-deal/">Transgrid Enerco Acquires Eko DisCo in a $200M Deal</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="">Transgrid Enerco, a consortium of SIIF, NSP, and Axxela, acquires a 60% stake in Eko DisCo for $200 million, pending regulatory approval.</li> <li class="">North-South Power gains direct control over Eko DisCo, while Axxela expands into electricity distribution.</li> <li class="">The consortium aims to improve Eko DisCo’s operational efficiency and financial stability to enhance Nigeria’s power supply.</li> </ul> <p class="">Transgrid Enerco Limited, a consortium of Stanbic IBTC Infrastructure Growth Fund (SIIF), North-South Power Company Limited (NSP), and Axxela Limited acquired a 60% equity stake in Eko Electricity Distribution Company (<a href="https://businessday.ng/energy/power/article/axxela-stanbic-acquires-60-stake-in-nigerias-second-largest-disco/">Eko DisCo</a>). Pending regulatory approval, the deal, valued at around $200 million, will close in April 2025.</p> <p class="">The consortium signed a share purchase agreement on January 21, 2025, after Transgrid Enerco paid a commitment fee. West Power and Gas Limited (WPG), the parent company of Eko Disco, confirmed the transaction’s completion.</p> <p class="">Transgrid sees the acquisition as a crucial step in its expansion within <a href="https://theelectricityhub.com/?s=Nigeria%E2%80%99s+power+sector">Nigeria’s power sector</a>. The deal benefits each consortium member. North-South Power, which owns the Shiroro Dam, gains direct control over Eko DisCo’s operations and finances, strengthening its position in Nigeria’s power sector.</p> <p class="">Axxela Limited, a leading natural gas distributor, now enters the electricity distribution market. The acquisition gives Axxela direct access to cash flow. Axxela operates a 360-kilometre natural gas network and holds stakes in <a href="https://theelectricityhub.com/?s=power+generation">power generation</a> projects, including the Akute and Alausa power plants. The company also has embedded power partnerships with Eko and Ikeja DisCos, with a total capacity of 140 MW.</p> <p class="">Stanbic IBTC Infrastructure Growth Fund, Nigeria’s largest private equity fund for infrastructure, aligns this acquisition with its investing strategy in high-potential infrastructure projects. The deal provides an opportunity to invest in a business with solid cash flow potential, particularly in Nigeria’s growing <a href="https://theelectricityhub.com/?s=energy+sector">energy sector</a>.</p> <p class="">Charles Momoh, chairman of WPG, described the acquisition as a key development for Eko Disco. He stated that the new owners would capitalise on evolving opportunities in Nigeria’s electricity market. Momoh added that the consortium would work to reposition Eko DisCo to improve its financial stability and access new sources of capital.</p> <p class="">After finalising the transaction, Transgrid Enerco plans to boost operational efficiency. The consortium aims to ensure that Eko DisCo provides customers with a more reliable power supply. The new owners expect to improve the company’s performance by streamlining operations and enhancing financial stability.</p> <p class="">The acquisition marks a positive development for Nigeria’s energy sector as it seeks to modernise its electricity distribution network. The deal highlights the growing interest from private investors in Nigeria’s power sector as it tackles its electricity supply challenges.</p> <p class="">Transgrid Enerco’s acquisition of Eko DisCo marks a significant shift in Nigeria’s power sector. The transaction strengthens each consortium member’s position while promising to improve operational efficiency and financial stability for Eko Disco. With regulatory approval expected soon, the deal will likely reshape <a href="https://theelectricityhub.com/?s=Nigeria%E2%80%99s+electricity+market">Nigeria’s electricity market</a>.</p> <p>The post <a href="https://theelectricityhub.com/transgrid-enerco-acquires-eko-disco-in-a-200m-deal/">Transgrid Enerco Acquires Eko DisCo in a $200M Deal</a> appeared first on <a href="https://theelectricityhub.com">The Electricity Hub</a>.</p> ]]></content:encoded> <wfw:commentRss>https://theelectricityhub.com/transgrid-enerco-acquires-eko-disco-in-a-200m-deal/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> </channel> </rss>