Nigeria’s Bulk Electricity Trading PLC announced plans to boost its electricity supply capacity to 5, 500 Megawatts (MW) by 2023.
This was disclosed by its Managing Director (MD), Mr Nnaemeka Ewelukwa on Wednesday in Lagos at the 2nd Capacity Workshop for Power Correspondents, Civil Society, and other Stakeholders.
NBET disclosed that the Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed has endorsed the plan.
Repositioning: The NBET Chief noted that the repositioning will make NBET become a market enabler/facilitator and boost market growth to “point of self-sustaining”.
“NBET is putting in a place a lot of initiatives that will improve power supply in the country. ”Under the first phase of such initiatives, it is expected that the Nigeria Electricity Supply Industry will be able to generate , transmit and distribute 5, 500 MW and this power will be paid for.
“Following the success of this trial phase. a further 1,000 MW will be added to the activated contracts in the following year bringing the total to 6,500MW.
“This will improve capacity of the Electricity Distribution Companies (DisCos) on incremental basis.”
Ewelukwa said that NBET would also establish a comprehensive Data hub that will provide critical information on electricity, and gas customers and their geographical locations in the country.
He also noted that will also promote bilateral trading between Independent Power Plants (IPP) and commercial/industrial customers through an automated energy trading platform/exchange and form multiple energy brokers playing a key role in linking energy suppliers and customers registered on the platform
In case you missed it, Nairametrics reported earlier that Nigeria’s minister for power, Engr. Abubakar Aliyu said the country will be partnering with China on renewable energy.
The minister wrote that on Tuesday, November 29, he met with a delegation from the China Renewable Energy Engineering Institute (CREEI), led by the deputy director-general of the institute, Mr. Gu Hongbin.
During the visit, both parties spoke about potential cooperation between Nigeria and the institute.
Mr Hongbin sought to cooperate with Nigeria in the areas of capacity building and research. However, Engr. Aliyu sought cooperation with the institute on the implementation of Nigeria’s energy transition plan.Follow us on social media