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Leaders in the Nigerian power sector prepare for stimulating discussion about Reliability and Finance
Lagos, Nigeria, 28 October, 2015: Nigeria’s power sector is positioning itself to leverage market opportunities, say key members of the nation’s power industry, who meet next week to discuss market updates and energy project financing opportunities.
Government, finance and private sector electricity leaders convene at the 4th annual Power Nigeria Exhibition & Conference, on 3 and 4 November at Eko Hotel, to discuss ways to improve power coverage and funding new projects.
Managing Director and CEO of Niger Delta Power Holding Co., James A. Olotu, who will give a VIP address on day one, said: “Securing a credible and transparent electricity market is a panacea and stimulant to power generators and participants and therefore assures credible power supply. The current challenge is the complete unreliability and unpredictability of the settlement security and calls the capacity of the regulators and discos to question even where the tariffs become cost reflective.”
Answers to this lack of predictability include embedded generation, which will be addressed by John Ayodele, Deputy Managing Director of the Ibadan Electricity Distribution Co.
Nasir Giwa, General Manager of Power & Gas, Siemens Nigeria will discuss how every project must have a holistic approach to IPP development by working closely with all stakeholders beyond OEMs and EPCs to ensure the seamless and timely conclusion of proposed projects from concept to reality. Giwa said: “We are pleased to see all power stake holders in Nigeria working hand in hand, including Siemens, and we continue to welcome the ongoing dialogue in a unified effort to light up Nigeria”.
Improved power coverage and security is the focus of discussions on day one, 3 November, and features subjects that are fundamental in improving Nigerian infrastructure including new substation system security research, gas fuelled captive power plants and strategic micro-grid management.
Industry leaders agree that an improved approach to investment is paramount to building power reliability. United Capital’s Deputy Group CEO & Managing Director of Investment Banking, Wale Shonibare who will chair Power Nigeria’s day two agenda, which focuses on financing the sector, believes now is an excellent time for Nigerian energy firms to rethink their financing.
Shonibare continued, "With the recent volatility in the foreign exchange market, as a result of the global decline in oil prices amongst others, this is the time for Nigerian power companies to shift their focus to capital raising in the local currency to reduce their exposure to foreign exchange risk. Power Nigeria will provide a great platform for companies to strategise and get a better understanding of what needs to be done in order to prepare for debt and equity issuance via local capital markets, as a way of reducing their excessive reliance of US dollar denominated bank loans."
As for the renewables sector, there are new sources of funding available, if you know where to look, advises Samuel Ahanor, Renewable Energy Technical Specialist, Winrock Intl. On day two, 4 November, he will discuss new low interest and long tenure funds. Ahanor positively comments: “This new money is going to change the renewables market. It’s very encouraging.”
The Power Nigeria Conference will be held on the mezzanine level at the Eko Hotel Exhibition Hall in Lagos, overlooking the expansive Power Nigeria exhibition floor where manufacturers and suppliers from 20 countries around the world are exhibiting their latest solutions for the power sector from 9am – 5pm on 3 – 5 November 2015. The conference begins at 10:20am on 3 and 4 November, and is open to all parties with a professional interest in improving Nigeria’s electricity reliability.
Power Nigeria is partnered with the Energy Institute, Nigeria Branch and the conference is accredited by the CPD certification service.
For further information please visit: www.power-nigeria.com.
Michelle Smellie, Director
Global Partner Solutions Ltd.
Tel: 08 171 077 130