Group indicators $100m deal to advertise renewable vitality

The Renewable Power Affiliation of Nigeria (REAN) has signed an settlement with Odyssey Power Options to make photo voltaic tools procurement extra environment friendly and cost-effective for photo voltaic corporations working in Nigeria.

The affiliation made this recognized in an announcement signed by Ayo Ademilua, president of REAN and made obtainable to the Information Company Of Nigeria (NAN) on Saturday in Abuja.

In keeping with him, the organisations will make $100 million of kit finance obtainable to REAN members in very beneficial phrases.

This solely requires a small down cost for tools with a 60-day window for photo voltaic corporations to pay the stability as soon as tools has arrived in Nigeria.

Ademilua, additionally expressed enthusiasm over the settlement, stating that REAN was dedicated to supporting the expansion and improvement of the renewable vitality sector in Nigeria.

“We imagine that this partnership with Odyssey Power Options is a vital step in that course.

“We’re poised to make a big affect on the photo voltaic vitality trade in Nigeria, by making it simpler, sooner and cheaper to acquire high-quality photo voltaic merchandise.

“We sit up for working collectively to supply higher entry to high quality photo voltaic merchandise and options for our members,” Ademilua mentioned.

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Justin Tinsey, vp of procurement options at Odyssey, mentioned partnering with REAN would assist enhance the effectivity and cost-effectiveness of photo voltaic tools procurement in Nigeria.

“ Our mixed experience and sources will allow us to supply higher options to photo voltaic corporations in Nigeria, serving to them to develop their companies and contribute to the event of a sustainable vitality future for the nation.

“As one of many fastest-growing economies in Africa, Nigeria has a big demand for renewable vitality options.

“Nevertheless, many photo voltaic corporations face important challenges on the subject of sourcing tools and supplies, together with lengthy lead occasions, excessive prices, and lack of entry to high quality merchandise.

“The partnership between Odyssey Power Options and REAN goals to handle these challenges by streamlining the procurement course of and offering higher entry to high-quality photo voltaic merchandise for REAN members,” Tinsey mentioned.

He mentioned underneath the settlement, Odyssey Power Options and REAN would streamline tools procurement for REAN members by serving to them entry financing, higher cost phrases and provide chain help.