|Minister of Power, Prof. Chinedu Nebo|
Friday, 18 July 2014
Federal Government urges power firms to boost supply.
The Minister of Power, Prof. Chinedu Nebo, made the call on Friday in Abuja when a delegation from Genesis Electricity Company paid him a courtesy visit in his office.
Embedded power generation is a situation where a dedicated power plant or modular generator powered by solar, wind, biomass, diesel or crude oil is connected to a particular distribution network to provide dedicated power to an area.
The minister specifically tasked the power firm to take advantage of the enormous gap in energy need of industries, especially in the South-East, so as to fast track the nation’s socio-economic development.
Nebo said Nnewi, the hub of industrialisation in the South East, had in recent time had 40 of its 46 industries closed down due to huge cost of running generators.
“I heard on good authority that a company operating in that area spends as much as 38 per cent of its production cost on diesel; this is definitely not good for business,” he said.
The power minister urged the indigenous firm to carry out a survey of industrial clusters, assess their power needs and explore ways of addressing the power challenge.
“Genesis Electricity should also extend its services to rural and urban areas, where they have no access to the national grid,” he urged the company.
Nebo assured the company of Federal Government’s support, describing the company as critical to government’s plan to ensure stable power supply across the country.
The minister, who was presented with the ‘Africa in Power Utility of the Year 2013/14′ award won by the company, commended the firm for its contributions to the power sector.
The Managing Director of Genesis Electricity Company, Mr Akinwole Omoboriowo, said the remarkable feat attained by the company was made possible by the enabling environment created by the Federal Government.
He said, “The Federal Government policy made this to happen, as it has given the sector a robust, proactive and strong power sector that has engendered competitiveness and confidence of players both domestic and international.”