BREAKING NEWS, Business
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The United Kingdom-based Genesis Energy Corporation and the Norwegian Hydro Group partner to provide mini hydro power solution for Nigeria, and Africa in general
THE Genesis Energy Corporation, United Kingdom and a Norwegian Group, SHP Malthe Winje, SHP, have provided a pioneering platform for multiple deployment on fast track basis of Modular Mini Hydro Power solutions that could efficiently and effectively meet Nigeria and the entire African continent energy needs within a reasonable short period of time. This is part of the Genesis’ vision to light up Africa, one community at a time, and to resolve its power puzzle in Africa starting with Nigeria.
At the launch of the modular mini Hydro power solution for Africa in London last week, Akinwole Omoboriowo, chief executive officer of Genesis Energy Corporation, said the modular units of this hydro power engines could be deployed on fast-track basis within just six months without the prohibitive operating costs of diesel oil or natural gas. The modular units can be connected to small mini grid at 415V levels for direct consumption by targeted communities and or connected to the distribution network within the area of the modular hydro unit installation. The units also have advantages of increased generated Kilo Watt per hour and in addition have zero negative environmental impact, given the Pass-through water from streams or rivers used to feed the modular hydro units.
He said that “In line with the vision of Genesis to light up Africa one community at a time, we have embarked on innovative means of generating Power using alternative and renewable sources of Fuel with particular interest in Mini Hydro and Off-grid Solar Power Solutions. SHP Malthe Winje are technology market leaders in the manufacturing and supply of prefabricated and standardised Mini Hydro Plants, and the group being one of global technical specialist in this field has brought on board significant positive upside in collaborating with Genesis to light up Africa one community at a time, and starting from Nigeria. This strategic initiative to provide fast track sustainable mini hydro solutions to African countries will engender realistic optimism that stronger more enlightened renewable policies will emerge in and throughout Africa”.
Also, Marc Eeckhout, executive director of Genesis, who led their team to the signing ceremony of the strategic partnership contract at the SHP headquarters in Norway, said that the mini hydro plants can be set up in virtually all parts of Nigeria where qualifying streams and or rivers exist. He stressed that their sustainability for stand-alone utilisation in several states, local governments and in the rural parts of Nigeria where most Nigerian resides could be justified while noting that many viable mini hydro scale plants are actually ‘’run-off-river’’ schemes based on water wheels that require significantly small amount of civil works.
According to him, several rivers, waterfalls, qualifying streams in Nigeria such as Kaduna, Niger, Benue, Cross Rivers and their tributaries provide an enviable potential for the exploitation of hydro energy. This is a visible alternative to the conventional buying of transformers and waiting for power from the national grid.
Currently SHP is approaching the Norwegian Export Credit Agency to get the necessary finance which will be used for the deployment of this Mini Hydro Power to Nigeria and Africa. Norwegian Credit provides for 85 percent of the total project costs. The Norwegian Export Credit Agency is one of the largest in the World with tenure of 20 years and with a very low interest rate.
It is believed that the funding from Norway which has competitive tariff due to the long period of amortisation will encourage both the state and federal governments to provide their counterpart funding of 15 percent of the total sum.
— Jul 13, 2015 @ 01:00 GMT
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Tags: Africa Akinwole Omoboriowo fast-track Genesis Energy Corporation Hydro Power London Marc Eeckhout Mini Mini Hydro Mini Hydro Plants Modular national grid nigeria Norwegian Export Credit Agency Norwegian Group Off-grid renewable SHP SHP Malthe Winje Solar Power Solutions Malthe Winje United Kingdom
