A United Kingdom energy firm Konexa will today sign a £14 million deal with Nigerian counterpart North South Power to provide Nigerian Breweries with 100% renewable energy in the coming years.
The signing event will form part of the British Business and Trade Secretary, Kemi Badenoch’s engagement with Nigeria during her visit to Abuja.
This is according to a statement from the United Kingdom’s Department of Business and Trade detailing activities of the visit of Ms. Kemi Badenoch to Nigeria.
The statement noted that the Trade secretary will witness the signing of an energy agreement between UK based Konexa and Nigerian power generation company North South Power (NSP).
- It stated, “While in Nigeria, the Business and Trade Secretary will also witness the signing of a landmark energy agreement between UK-based energy firm Konexa and Nigerian power generation company North South Power (NSP).”
Details of the agreement
Further details of the agreement include; the provision of renewable energy to Nigerian Breweries, promotion of sustainable development and infrastructure investment in the excess of £14 million.
The CEO of Konexa, Pradeep Pursnani noted that the deal favours all partners involved and the firm is looking forward to north of £120 million investment in power generation, transmission, distribution and battery storage technologies in the future.
- He said, “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.”
- “We are looking forward to investing more than £120m in renewable energy generation, transmission, distribution, and battery storage solutions to help our customers >transition away from the use of fossil fuel.”
Backstory
Nairametrics reported earlier that the United Kingdom will sign a new trade pact with Nigeria that will see the elimination of trade barriers and foster collaboration in legal, financial, energy and creative industries.
