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Friday, November 15, 2024

FROM 70MW TO 700MW VIA PRIVATE INVESTMENT-MBAH TO BOOST ELECTRICITY

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The Enugu State Government has announced plans to boost the state’s electricity capacity from the current 70 megawatts provided by the national grid to 700 megawatts through private sector investment.

GOVERNOR PETER MBAH OUTLINES PLAN

Governor Peter Mbah shared this vision during a Stakeholders’ Engagement and Consultation organized by the Enugu State Electricity Regulatory Commission (EERC) to review its draft regulatory framework. Mbah highlighted that increasing the state’s electricity capacity aligns with his administration’s goal to grow the state’s economy from $4.4 billion to $30 billion.

Represented by Secretary to the State Government, Prof. Chidiebere Onyia, Mbah emphasized that without a significant enhancement in electricity capacity, promises to improve pipe-borne water, security, education, and healthcare would be unfeasible. The government plans to open up the entire electricity value chain in the state, including supply, generation, transmission, and distribution.

EERC CHAIRMAN AND INDUSTRY RESPONSES

EERC Chairman Chijioke Okonkwo expressed concerns about the current power deficit and underscored the need to build investor confidence to address the issue. Okonkwo stated that the commission aims to consume at least 300 megawatts within two years and reach 700 megawatts by 2030, stressing the insufficiency of the current 70 megawatts from the national grid.

The engagement provided stakeholders with a platform to contribute to the regulatory framework before its final adoption and implementation.

INDUSTRY REACTIONS

Siemens Energy Nigeria’s Managing Director, Seun Suleiman, praised the state government’s transparency and indicated support for captive power investors with Siemens’ range of gas turbines.

Nkiru Chime, Acting Managing Director of the Infrastructure Bank, noted that while Enugu State is proactively setting up the electricity market, securing funding remains crucial for driving investment.

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