National grid collapse: UK-based firm announces merger with Nigerian power company, Shyft

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National Grid Collapse Notícia

Shyft,UK

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 to DAILY POST on Tuesday.

The company said the move was necessary to tackle the age-long power sector crisis in Nigeria and Africa through digital energy, community-metering and other solutions. 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 , grid intelligence, and metering. “With rising energy costs, there is a growing need for reliable power.

reports that in the last months of 2024, the national grid has collapsed at least nine times.

 

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