Wednesday, December 7, 2022
Home Business ECOWAS gets AFDB's $2m electricity reforms

ECOWAS gets AFDB’s $2m electricity reforms

The African Development Fund (AfDB) has approved a technical assistance grant of two million dollars to fund research that would contribute to electricity reforms for ECOWAS.

According to the statement, the grant from the African Development Fund, the concessional window of the AfDB Bank Group will go to the ECOWAS Regional Electricity Regulatory Authority. 

The ultimate objective is to stimulate cross-border electricity trade and improve energy access in the 15 countries in the region.

Project team leader at the AfDB, Mr Solomon Sarpong, said the project would facilitate regional electricity trade and help improve access to electricity.

“It will address major causes of fragility, such as infrastructure bottlenecks, youth unemployment, environmental challenges, gender inequalities, and regional development imbalances,” Sarpong said.

The project has five components. 

The first involves selecting electricity regulatory principles and key performance indicators from the AfDB’s flagship Electricity Regulatory Index for Africa report, to be adopted by the ECOWAS Regional Electricity Regulatory Authority. 

The project would build capacity in member countries for collecting and reporting on these indicators on a common platform.

The second component would involve conducting a study in order to update a comparative analysis of electricity tariffs and their underlying drivers across the electricity value chain of ECOWAS.

The third involves developing a centralised database management system that would provide a platform for digitally collecting relevant energy information from member countries, storing, and disseminating them on a common digital platform.

The fourth component would assess and identify project bottlenecks and risks in ECOWAS member countries.

It would also recommend a coherent approach to progressively address ground-level barriers to investment in the power sector in pre- and post-establishment phases of the regional electricity market.

The final component focuses on programme management and capacity building, which would be co-financed with the Regional Electricity Regulatory Authority. 

All components of the project would include gender-disaggregated data.

ECOWAS is a regional organisation that promotes economic integration in the constituting countries. ECOWAS consists of 15 countries.

The countries are Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. 

RELATED ARTICLES

Nigeria, Morocco, five other W/African Countries sign on Gas Pipeline Project

NNPCL in a series of tweets, said Nigeria's @nnpclimited, Morocco's ONHYM and the nations of Ghana, The Gambia, Guinea, Guinea Bissau & Sierra Leone, signed an MoU on the gas pipeline project

EKEDC cries out against assault on its staff

Idemudia expressed his aversion with these inhumane acts and stated that the company has a zero-tolerance policy on assault and will to go to the full extent of the law to ensure that perpetrators are brought to justice.

TCN adds 98MW to grid; energizes 2x60mva 132/33kv Gwarinpa Sub-station

According to a statement, the 132kV transmission sub-station is one of the five sub-station projects comprising the Abuja Ring Projects, funded by Agence Francais de Developpment (AFD).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

POWER OUTAGE AS TRUCK HITS TCN TRANSMISSION TOWER

The company in a statement said the current restricted outage situation in parts of Abuja, is caused by a truck loaded with gravel that lost control and crashed into TCN’s 132kV transmission tower No 20, supplying bulk electricity to the 100MVA part of the Katampe Substation and 2x60MVA GIS Central Area Substation.

Nigeria, Morocco, five other W/African Countries sign on Gas Pipeline Project

NNPCL in a series of tweets, said Nigeria's @nnpclimited, Morocco's ONHYM and the nations of Ghana, The Gambia, Guinea, Guinea Bissau & Sierra Leone, signed an MoU on the gas pipeline project

NDPHC decries incessant vandalisation of power transmission facilities

“We will be relentless in hunting these vandals down, particularly those who assassinated the young man.”

Vandals destroy six transmission towers, kill vigilante in Rivers

On September 3, 2022, some miscreants attacked and vandalized the 330kV DC Afam – Onne Transmission Line in Gbake community of Ogoniland, River State.

Recent Comments