Grid Crux

It’s a Quote Friday. “The transition to green energy is not just a choice, it’s an imperative for a sustainable world.” - Ban Ki-moon #quoteoftheday #greenenergy #friday #tgif

At Grid Crux, we’re revolutionizing the energy landscape with our innovative solutions. Whether you’re looking to reduce costs, increase efficiency, or drive sustainability, we’ve got you covered. Let’s talk energy and explore how our expertise can empower your business or community! #energysolutions #letstalkenergy #power

Innovating energy storage with cutting-edge BESS technology. #Innovation #BESS #GridCrux

It’s a Beautiful MONDAY. Let’s take you back to the Beautiful thing we did at Hope For All Orphanage home, where we brightened their world with solar systems! Their smiles were priceless, and their feedback was beyond inspiring. Now, it’s your turn to make a difference - you can join us in spreading the light. Check for PROJECT CATALYZE in our website through the link in the bio or you can send us a DM, today! #mondaymood #csr #makingadifferenceeveryday #joinus #gridcrux #orphanages #projectcatalyze

Nigeria’s electricity market is in the midst of a significant transformation, particularly with the Electricity Act 2023 and Nigerian Bulk Electricity Trading Plc (NBET) plans of moving towards an energy exchange model. The introduction of smart contracts—self-executing contracts with terms directly written into code—could be the key to revolutionizing energy transactions in the country. These contracts offer a solution to several persistent challenges in the market, including inefficiencies in transaction processes, payment delays, and high operational costs. Continue reading below and share your view: Article by our Co-Founder Adedamola Olusakin

Grid Crux will be Live tomorrow @lagosrefest by Eventhive.ng Our CEO Mojola Ola will be speaking on the topic: Solving the Power Conundrum with GCWatt : Balancing Security and Transparency for Estate Energy Management You can also locate our booth at the Event tomorrow to learn more about what we do @gridcrux and @gcwatt_ See you Tomorrow 💃💃💃

Smart Contracts: The Future of Energy Transactions in Nigeria. Nigeria’s electricity market is in the midst of a significant transformation, particularly with the Electricity Act 2023 and Nigerian Bulk Electricity Trading Plc (NBET) plans of moving towards an energy exchange model. The introduction of smart contracts—self-executing contracts with terms directly written into code—could be the key to revolutionizing energy transactions in the country. These contracts offer a solution to several persistent challenges in the market, including inefficiencies in transaction processes, payment delays, and high operational costs. Current Challenges in the Nigerian Electricity Market: 1. Manual Processes and Inefficiencies: The traditional electricity transaction model in Nigeria is heavily reliant on manual processes. These outdated systems lead to significant inefficiencies and delays. For instance, the payment process involves multiple layers of verification and approval, often leading to prolonged transaction times. 2. Payment Delays: One of the most pressing issues is the delay in payments to Generation Companies (GenCos). According to the Vanguard, GenCos have frequently raised alarms about receiving only a fraction of their invoice payments on time. In November 2021, for example, GenCos were paid only 28% of their invoices by NBET for power supplied to the national grid in September payment cycle., causing significant cash flow problems and affecting their operational stability. Kindly click on the link below to read more: https://lnkd.in/g_BpqctA Article by Adedamola Olusakin, Co-Founder Grid Crux

Smart Contracts: The Future of Energy Transactions in Nigeria. Nigeria’s electricity market is in the midst of a significant transformation, particularly with the Electricity Act 2023 and Nigerian Bulk Electricity Trading Plc (NBET) plans of moving towards an energy exchange model. The introduction of smart contracts—self-executing contracts with terms directly written into code—could be the key to revolutionizing energy transactions in the country. These contracts offer a solution to several persistent challenges in the market, including inefficiencies in transaction processes, payment delays, and high operational costs. Current Challenges in the Nigerian Electricity Market: 1. Manual Processes and Inefficiencies: The traditional electricity transaction model in Nigeria is heavily reliant on manual processes. These outdated systems lead to significant inefficiencies and delays. For instance, the payment process involves multiple layers of verification and approval, often leading to prolonged transaction times. 2. Payment Delays: One of the most pressing issues is the delay in payments to Generation Companies (GenCos). According to the Vanguard, GenCos have frequently raised alarms about receiving only a fraction of their invoice payments on time. In November 2021, for example, GenCos were paid only 28% of their invoices by NBET for power supplied to the national grid in September payment cycle., causing significant cash flow problems and affecting their operational stability. Kindly click on the link below to read more: https://lnkd.in/g_BpqctA Article by Adedamola Olusakin, Co-Founder Grid Crux

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Empowering Nigeria with cutting-edge energy solutions. From BESS to microgrids, we’re lighting the path forward. 💪 #NigeriaEnergy #GridCrux #Bess #microgrids