FG signs 1,265 megawatt renewable energy deal

The Rural Electrification Agency has signed a Memorandum of Understanding with five private developers to implement renewable energy projects with a capacity of 1,265 MW across Nigeria.

The agreement, signed on July 4, 2024, aims to electrify rural and suburban communities, contributing to economic growth and improving living standards.

The five developers – A4&T Power Solutions, Eauxwell Nigeria Limited, Skipper Nigeria Limited, Havenhill Synergy Limited and Privida Power – will develop interconnected mini-grids, isolated mini-grids, commercial and industrial projects and power supply entities under the Distributed Access through Renewable Energy Scale-up project.

REA Managing Director/CEO Abba Abubakar Aliyu praised the partnership in a statement on Thursday: “This Memorandum of Understanding demonstrates our commitment to implementing the renewable energy service company model, providing developers with a platform to become utility companies and attract investments to deploy mini-grids.”

Indian High Commissioner G. Balasubramanian lauded the partnership, noting, “This signing will enhance bilateral cooperation between India and Nigeria by sharing our experience to develop Nigeria’s energy sector.”

The developers expressed their enthusiasm for the project and A4&T Power Solutions CEO Ayo Ademilua appreciated REA’s support and ambition.

Privida Power Chief Executive Officer Omo Williams pledged his strong support to REA, while Skipper Nigeria Limited Managing Director Ankit Kumar emphasised the impact the campaign was having on the lives of Nigerians.

Eauxwell Nigeria Limited representative Chibuzo Enwegbara and Havenhill Synergy Managing Director Olusegun Odunaya reiterated their commitment to the projects.

This milestone is part of Nigeria’s efforts to increase access to renewable energy and reduce energy poverty.

REA also signed a Memorandum of Understanding with Mercy Corps to strengthen energy cooperatives and ensure sustainable operation of projects.