Konexa indicators USD 18 million deal to help Nigeria power transition | ALB Article

Konexa indicators USD 18 million deal to help Nigeria power transition | ALB Article
Konexa signs USD 18 million deal to support Nigeria energy transition

The power firm has entered into an settlement with a Nigerian energy producer to offer renewable power to 2 manufacturing websites.

London-headquartered power firm Konexa has signed an settlement with Nigerian electrical energy supplier North South Energy to develop, construct and finance a renewable power challenge within the African state.

Nigerian regulation agency Olaniwun Ajayi suggested Konexa on the deal which was signed on 13 February. The transaction was financed by a USD 18 million fairness funding from Local weather Fund Managers Local weather Investor One fund and the Microsoft Local weather Innovation Fund.

It included negotiation of an influence buy settlement from the Gurara hydroelectric producing facility in north central Nigeria, in addition to the same settlement associated to power provide to 2 websites owned by the nation’s largest, Nigerian Inventory Change-listed brewing firm, Nigerian Breweries.

Konexa additionally contracted with Nigerian firm MBH Energy on the set up of related infrastructure, together with transformers and power storage options at each websites.

As soon as accomplished, the challenge will see renewable power from the Gurara facility transmitted to the 2 websites positioned within the areas of Kakuri and Kudenda in Kaduna State, each of that are powered by fossil fuels at present. The challenge will assist Nigeria obtain its goal of internet zero emissions by 2060.

Final month Mastercard took a USD 200 million minority stake in MTN Group Fintech, calling upon Nigerian agency Templars to advise it. 

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