ASI Engineering Limited (ASI), a Kaduna -based firm has announced the successful acquisition of a 60% equity stake in Kaduna Electricity Company Plc (Kaduna Electric), as approved by the Nigerian Electricity Regulatory Commission (NERC).
A press statement issued by company said the acquisition of the Kaduna Electric marks a significant milestone for ASI Engineering Limited as it continues to expand its global footprint and contribute to the development of critical infrastructure in emerging markets.
The statement reads: “The acquisition of Kaduna Electric aligns perfectly with our strategic vision to enhance energy access, reliability, and efficiency in Nigeria.
“Kaduna Electric serves as a vital lifeline for residents, businesses, and industries in the franchise states (Kaduna, Zamfara, Sokoto, and Kebbi) and we are committed to leveraging our expertise, resources, and technology to optimise its operations and service delivery.
“ASI is collaborating with stakeholders, especially the state governments within its franchise licence area, to create sustainable solutions that align with the region’s unique needs.
“These unique collaborations will attract the needed investments to upgrade and turn around electricity distribution in the Kaduna Electric franchise area.
“ASI’s vision is to make Kaduna Electric a national leader in electricity distribution, driving sustainable development and enhancing the quality of life through innovative and reliable solutions.
“Our collaborative approach will focus on modernising the electricity distribution network, implementing innovative solutions for energy management, and fostering greater customer satisfaction and engagement.”
The company said: “The acquisition of 60% equity of Kaduna Electric, which NERC has approved, marks a new dawn in the turnaround and repositioning of Kaduna Electric.
“ASI Engineering Limited’s entry into the Nigerian Electricity Market currently is a testimony and demonstration of faith in the efficacy of the renewed hope agenda of His Excellency President Bola Ahmed Tinubu.
“ASI Engineering Limited is bringing new dynamic leadership to Kaduna Electric through a newly invigorated board and management with vast experience in utility turnaround.
“We want to thank the Nigerian Electricity Regulatory Commission (NERC), the Bureau of Public Enterprises (BPE), the interim board and the Administrator of Kaduna Electric for their work so far at Kaduna Electricity Distribution Company.”
Source: https://energynewsafrica.com