Nigerian Breweries Plc has entered into a power purchase agreement with UK-based energy developer Konexa. This initiative is part of the company’s strategy to transition its Lagos and Ama breweries to 100% renewable energy, aligning with its ‘Brew a Better World’ sustainability agenda. The move aims to advance Nigerian Breweries towards carbon neutrality.
The project will receive development funding from Climate Fund Managers (CFM) through its EU-supported Climate Investor One fund. Additional funding will come from Konexa and other co-financiers. This agreement follows a previous ten-year deal made in 2022 for renewable energy supply to the Kakuri and Kudenda Breweries.
Hans Essaadi, Managing Director of Nigerian Breweries Plc, emphasized the importance of this partnership: “This partnership underscores our commitment to reducing carbon emissions, lowering operational costs, and achieving net zero.” He also highlighted the critical role of renewable energy infrastructure in Nigeria due to frequent outages.
Pradeep Pursnani, CEO of Konexa, expressed excitement about contributing to NB Plc’s transition toward sustainable power sources: “With CFM’s support, we are advancing the development of key renewable energy infrastructure in Nigeria.”
Darron Johnson from Climate Fund Managers commented on their involvement: “Phase Two of our investment in Konexa is another crucial step forward in the modernization of Nigeria’s power grid.”
Nigerian Breweries Plc is part of the HEINEKEN Group and operates nine breweries across Nigeria. It offers a diverse portfolio including brands like Heineken and Maltina. More information can be found on their website.
Konexa specializes in renewable energy solutions within Sub-Saharan Africa, while Climate Fund Managers focus on climate-resilient initiatives across various continents.
