{"id":137093,"date":"2024-11-05T18:21:34","date_gmt":"2024-11-05T17:21:34","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft"},"modified":"2024-11-05T19:24:56","modified_gmt":"2024-11-05T18:24:56","slug":"national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft","title":{"rendered":"National grid collapse: UK-based firm announces merger with Nigerian power company, Shyft"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>A United Kingdom-based energy revenue management company, SteamCo, has announced a merger with Nigerian Shyft Power Solutions to end national grid collapses and energy crises in Nigeria and Africa.<\/p>\n

The announcement was made in a statement made available on Tuesday.<\/p>\n

The company said the move was necessary to tackle the age-long power sector crisis in Nigeria and Africa through digital energy,<\/p>\n

community-metering and other solutions.<\/p>\n

The merger comes with historic investment led by Equator VC and with participation from Praetura Ventures and KawiSafi Ventures in the continental energy sector, especially Nigerian Independent Power Producers (IPPs), grid intelligence, and metering.<\/p>\n

\u201cWith rising energy costs, there is a growing need for reliable power. Globally, over a billion people lack adequate access to quality power.<\/p>\n

\u201cIn Nigeria, approximately half of the country\u2019s 220 million population is connected to the national grid, which currently cannot meet daily energy demand.<\/p>\n

\u201cEven those connected to the grid frequently experience blackouts, forcing them to rely on expensive and polluting alternatives. Distributed energy resources like solar home systems and mini-grids are essential solutions to address this energy access crisis.<\/p>\n

\u201cBut this is changing, and the emerging SteamaCo entity is committed to playing a pivotal role in helping power companies, both on and off grid, leverage data-driven solutions to foster operational efficiency, streamline revenue management, and mitigate downtime.<\/p>\n

\u201cOur vision goes beyond delivering cutting-edge technology; it\u2019s about transforming the energy experience of power providers and their consumers. Alongside our customers, we can leapfrog inefficient grids and build more intelligent, resilient infrastructure.<\/p>\n

\u201cPower plays a critical role in economic advancement and enabling sustainable cities, so catalysing digital transformation with our solutions is a part of our overall commitment to enabling smart cities and sustainable communities,\u201d Shyft\u2019s Chief Executive Officer, Ugwem Eneyo, stated.<\/p>\n

On his part, Tom Parkison, MD of SteamaCo, observed, \u201cThis merger greatly boosts our ability to grow in African markets. By combining our advanced metering technology with Shyft\u2019s local expertise, we can better meet our customers\u2019 specific needs.<\/p>\n

\u201cTogether, we will foster innovation, improve our services, and provide effective, customised solutions to Africa\u2019s energy issues.\u201d.<\/p>\n

The development comes amid the incessant national grid collapses in Nigeria.<\/p>\n

On Tuesday, Nigeria\u2019s grid experienced another grid collapse.<\/p>\n

In the last months of 2024, the national grid has collapsed at least nine times.<\/p>\n

For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. A United Kingdom-based energy revenue management company, SteamCo, has announced a merger with Nigerian Shyft Power Solutions to end national grid collapses and energy crises in Nigeria and Africa. The announcement was made in a statement made available on Tuesday. The company said the move was necessary to tackle the age-long power […]<\/p>\n","protected":false},"author":84,"featured_media":137091,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[6980,254,15253,374],"class_list":["post-137093","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-national-grid-collapse","tag-nigeria","tag-shyft","tag-uk"],"yoast_head":"\nNational grid collapse: UK-based firm announces merger with Nigerian power company, Shyft - Nigeria<\/title>\n<meta name=\"description\" content=\"A United Kingdom-based energy revenue management company, SteamCo, has announced a merger with Nigerian Shyft Power Solu ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National grid collapse: UK-based firm announces merger with Nigerian power company, Shyft\" \/>\n<meta property=\"og:description\" content=\"A United Kingdom-based energy revenue management company, SteamCo, has announced a merger with Nigerian Shyft Power Solu ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-05T17:21:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-05T18:24:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1730818464.847306.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1124\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"National grid collapse: UK-based firm announces merger with Nigerian power company, Shyft\",\"datePublished\":\"2024-11-05T17:21:34+00:00\",\"dateModified\":\"2024-11-05T18:24:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft\"},\"wordCount\":409,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/11\/sm_1730818464.847306.jpg\",\"keywords\":[\"National grid collapse\",\"Nigeria\",\"Shyft\",\"UK\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/national-grid-collapse-uk-based-firm-announces-merger-with-nigerian-power-company-shyft\",\"name\":\"National grid collapse: UK-based firm announces merger with Nigerian power company, Shyft - 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