25 January 2019

Latest Power Market News

Ikeja Electric starts tagging of electric poles

(Africa): A Nigerian distribution power company, Ikeja Electric Plc, has started tagging of 274 units of 11KV overhead feeders and 64 high tension poles of 33KV across its network. It would use fibre metallic stickers with QR codes to read the information about the power infrastructure. It is expected that tagging would be completed by the end of December 2019.

A project financing facility for mini-grids is launched in Africa

(Africa): The first project financing facility for mini-grids with an initial investment of $16 million has launched this month. The facility is launched by Cross Boundary Energy Access (CBEA) with a focus on Tanzania, Nigeria, and Zambia. The Rockefeller Foundation and Ceniarth are some of the sponsors for the project

The US offers a considerable sum to support the coal energy industry

(North America): The US Department of Energy is to provide $38 million for R&D projects to improve the coal-based power plants technology. Supporting the coal industry was part of the US president Donald election pledges.

Sumitomo acquires Infinite Energy

(Asia Pacific): Japan’s Sumitomo has acquired Infinite Energy, which is an Australian solar power company engaged in installing, selling and distributing solar power systems and battery storage.