Konexa, a United Kingdom-based energy firm, is poised to finalize a £14 million agreement with Nigerian Breweries through its counterpart, North South Power. The deal aims to facilitate the provision of 100% renewable energy to Nigerian Breweries in the coming years, marking a crucial step towards sustainable energy solutions in Nigeria.
The signing ceremony, scheduled for today, coincides with the visit of British Business and Trade Secretary, Kemi Badenoch, to Abuja. This event underscores the strategic importance of the partnership between the UK and Nigeria in promoting renewable energy initiatives and fostering bilateral cooperation in the energy sector.
According to a statement from the UK’s Department of Business and Trade, Trade Secretary Kemi Badenoch will oversee the signing of the landmark energy agreement between Konexa and North South Power (NSP) during her visit to Nigeria. This agreement reflects the commitment of both countries to advance renewable energy infrastructure and support sustainable development goals.
The agreement entails the provision of renewable energy to Nigerian Breweries, a key player in the Nigerian beverage industry, while also promoting sustainable development and infrastructure investment exceeding £14 million. The CEO of Konexa, Pradeep Pursnani, expressed optimism about the deal, emphasizing its benefits for all parties involved.
Pursnani highlighted the transformative potential of the agreement, stating, “This is a very important milestone for Konexa, North South Power, Nigerian Breweries, and all our investment partners. Over the last few years, Konexa has been working on a disruptive model that matches customer energy demand with renewable energy supply.”
He further outlined the company’s commitment to investing over £120 million in renewable energy generation, transmission, distribution, and battery storage solutions, signaling a significant shift towards sustainable energy practices in Nigeria.
The signing of this agreement follows earlier reports by Nairametrics indicating the UK’s intention to establish a new trade pact with Nigeria aimed at removing trade barriers and fostering collaboration across various sectors, including energy.
As Nigeria seeks to diversify its energy sources and reduce reliance on fossil fuels, partnerships like the one between Konexa and Nigerian Breweries represent a crucial step towards achieving sustainable energy goals and promoting economic development.
Credit: Nairametrics
