Nigerian breweries signs power purchase agreement with Konexa for supply of renewable energy

Nigeria’s largest brewing company, Nigerian Breweries, has signed a power purchase agreement (PPA) with sustainable energy company, Konexa, for the supply of renewable energy to the brewery’s Kakuri and Kudenda facilities.

The PPA will see Nigerian Breweries source 100% of its power from renewables, with the official signing ceremony held at the Nigerian Breweries headquarters in the capital city of Lagos. Co-funded by the Netherlands-based Climate Fund Managers and Konexa, the PPA will cover a period of ten years, with clean power supplied for the breweries’ critical loads through a full-service renewable energy solution.

In line with the company’s sustainability agenda, the PPA marks a significant step for Nigerian Breweries, enabling the transition from fossil fuels to hydropower.

“By 2030, we want to become a standard reference point in Nigeria when it comes to sustainability and efficient use of resources. Under our ‘Brew a Better World’ agenda, we are taking several bold steps to become a carbon-neutral company,” said Managing Director of Nigerian Breweries, Hans Essaadi.

Konexa Commercial Director, Joel Abrams, noted that the agreement forms part of Konexa’s overall commitment to supporting industry, national governments, and utilities to attain clean and reliable power in Nigeria and elsewhere. While the partnership demonstrates the company’s confidence in Nigeria’s power sector, the PPA will go one step further to trigger long-term investment to support sustainability in Nigeria’s energy sector.

“We are very pleased to be part of the energy transition that Nigerian Breweries is leading. This agreement is particularly significant in the current context of increasing energy costs from traditional fossil fuels. This type of solution can apply to many businesses across Nigeria, allowing them to obtain cost-effective power from a reliable partner while focusing on their core business,” Abrams concluded.