Sahara Power Group’s Managing Director, Kola Adesina has said the company will continue to implement expansion plans through investment in diverse energy mix and partnerships to enhance the capacity of the power sector to meet anticipated energy demand growth in Sub Sahara Africa (SSA).
Adesina who spoke at the Oil and Gas Council’s Africa Assembly in Paris said the SSA region needs to build “robust capacity” to respond to “disruptors” in the energy sector by way of economic growth, rising demand in Africa, shifting energy mix, changes in the market structure and dynamics, growing share of private investment in Power, and in increased Regional Power Pooling.
The International Monetary Fund (IMF) World Economic Outlook reports that SSA growth is set to pick up from 3% percent in 2018 to 3.5% in 2019, before stabilizing at close to 4% over the medium term. About half of the region’s countries are expected to grow at 5% or more, which would see per capita incomes rise faster than the rest of the world on average over the medium term.
“As a foremost energy provider in Sub-Saharan Africa, Sahara Power Group is committed to its target of increasing the Group’s generation capacity to 5,000MW via different energy mix. This, in addition to other innovative interventions across the value chain in the region, is being driven by ongoing investments and partnerships,” he stated…….
[vc_row css=”.vc_custom_1606309013196{padding-right: 40px !important;padding-left: 40px !important;border-radius: 10px !important;}”][vc_column css=”.vc_custom_1606309408392{border-top-width: 2px !important;border-right-width: 2px !important;border-bottom-width: 2px !important;border-left-width: 2px !important;padding-top: 50px !important;padding-right: 50px !important;padding-bottom: 50px !important;padding-left: 50px !important;border-left-color: #e8e8e8 !important;border-left-style: solid !important;border-right-color: #e8e8e8 !important;border-right-style: solid !important;border-top-color: #e8e8e8 !important;border-top-style: solid !important;border-bottom-color: #e8e8e8 !important;border-bottom-style: solid !important;}”][vc_single_image image=”499334″ img_size=”144×30″][vc_separator color=”black” align=”align_left” css=”.vc_custom_1606301896050{margin-top: -27px !important;}”][vc_custom_heading text=”This article is reserved for our subscribers.” font_container=”tag:h5|text_align:left” use_theme_fonts=”yes” css=”.vc_custom_1606302261910{margin-top: -20px !important;}”][vc_column_text]Subscription to BusinessDay gives you access to the best of our business content every day. Enjoy exclusive articles, expert insights and analysis behind the stories, and special reports.
Join now and gain unlimited access from as low as N1000/month.[/vc_column_text][vc_column_text css=”.vc_custom_1606308189916{margin-top: -10px !important;margin-bottom: -1px !important;}”]
Already subscribed? Sign In below.
[/vc_column_text][vc_btn title=”Subscribe” style=”outline” color=”danger” align=”center” i_align=”right” i_icon_fontawesome=”fas fa-user-plus” button_block=”true” add_icon=”true” link=”url:https%3A%2F%2Fbusinessday.ng%2Fcheckout%2F%3Flevel%3D53″][vc_btn title=”Login” style=”outline” color=”danger” align=”center” i_align=”right” i_icon_fontawesome=”fas fa-angle-right” button_block=”true” add_icon=”true” css=”.vc_custom_1606309748710{margin-top: -20px !important;}” el_class=”lrm-login lrm-hide-if-logged-in”][vc_column_text]Questions or problems? Email [email protected] or call 0812 345 8958.[/vc_column_text][/vc_column][/vc_row]
