Page 12 - AfrElec Week 47 2020

AfrElec NEWS IN BRIEF AfrElec

this new funding will provide the opportunity Energy Commission of Nigeria in Sokoto. sources to keep going and grow their profit
to further increase Bboxx’s impact in the The Minister who was represented by margins.
DRC. Earlier this year, Bboxx announced Director-General of ECN, Prof. Elijah Bala, However, all is not lost for Kenya Power.
a memorandum of understanding (MoU) commended organisers on the theme: Indeed, it has the opportunity to review its
with the DRC Government, with the aim of “Solar Energy post COVID-19 Economy ” policies and strategies with a view to increase
bringing clean energy to 10 million citizens, describing it at apt and timely. its penetration in rural areas, especially where
equivalent to 10% of the population. He said COVID-19 pandemic had ravaged electricity connections are still unheard of
This debt financing from FEI OGEF builds economies with no exception to Nigeria, to date. The Last Mile connection initiative
on the Fund’s $8 million loan made in May which he said was 90 per cent dependent on between the Government of Kenya and the
2019 to accelerate Bboxx’s energy access crude oil export coupled with low demand. African Development Bank at a cost of Sh13.5
plans in Rwanda. FEI OGEF is a $100 million “It is a common knowledge that our billion might have connected most of the
blended finance debt fund that provides economy has again gone into recession due to targeted 1.5 million Kenyans to the national
predominantly secured financing to support low demand in oil and consequent low price,” power grid, but more still has to be done.
the growth of innovative companies in the off- Onu said. It is also imperative for Kenya Power
grid energy sector, and it is part of the African He explained that Nigeria needed more to address numerous complaints about its
Development Bank (AFDB) flagship initiative, meaningful progress, stressing that the right billing and the high cost of power if it wants
Facility for Energy Inclusion. investment should be channeled to Science to maintain its lead. No doubt, solar energy
This deal comes at a time of significant and Technology innovations. provides a better and cheaper alternative to
growth for Bboxx, as this year it celebrates its Onu said President Muhammadu Buhari electricity use.
10th year in business and reached a milestone administration through the ministry had Widespread use of solar energy can power
of transforming over one million lives through placed emphasis on science, technology and up many Kenyan homes and perhaps keep at
access to energy. innovation as instruments of sustainable bay plans to use coal energy that experts claim
Mansoor Hamayun, CEO and Co-Founder development contributes massively to carbon emissions.
of Bboxx, commented, “Building on our Today, the world faces the challenge of global
productive relationship with FEI OGEF warming and erratic weather conditions
and Lion’s Head Global Partners highlights that result from it and negatively impact
investor confidence in our business model. POLICY agricultural production.
It is a positive step in the right direction in
securing more funds to help tackle the global Shift to solar use wake-up
energy access gap and make progress towards
meeting UN Sustainable Development Goal call for Kenya Power
7 - energy for all.
“We have substantial operations and a Kenya Power has recorded a massive drop
proven track record in the DRC, having in its revenues. This comes after most of its
signed an important MoU with the DRC customers and major consumers of power
government at the beginning of the year. shifted to solar energy in a bid to cut costs.
As we embark on the next phase of our This was not entirely unexpected. Kenya
ambitious growth journey, we look forward Power has failed to keep pace with the rate of
to putting these funds to good use by helping modernisation and the needs of its customers.
to transform even more lives and unlock Power tariffs in Kenya are among the
potential through access to clean energy.” highest globally, which impede production
because of the high cost of doing business.
Besides, Kenya Power’s erratic electricity
supply and constant blackouts have made its
RENEWABLES major consumers to look for alternative power

Nigerian minister calls for
investment in renewable

energy

The Minister of Science and Technology,
Dr Ogbonnaya Onu, on Monday called on
investors to focus attention on renewable
energy sector, describing it as lucrative and
alternative source of electricity.
Onu made the call at the 38th National
Solar Energy Forum (NASEF), organised
by Solar Energy Society of Nigeria, Usmanu
Danfodio University Sokoto (UDUS) and

P12 www. NEWSBASE .com Week 47 26•November•2020