CEM REPORT | Nigerian Breweries Plc, in line with its business strategy and ‘Brew a Better World’ sustainability agenda signed a power purchase agreement with Konexa to deliver 100 percent renewable energy to two of its breweries in Kaduna state.
The deal which will last ten years involves Konexa, an integrated energy development and investment platform, supply clean, renewable energy to its Kakuri and Kudenda breweries which will take the company one step closer in its quest of becoming carbon-neutral in future.
This project co-funded by Climate Fund Managers and Konexa, implies that Nigerian Breweries Plc has outsourced power supply for its breweries critical loads. Converting from fossil fuels into a full-service renewable energy solution, using hydropower sources.
Describing the agreement as another significant milestone for NB Plc, Hans Essaadi, Managing Director of Nigerian Breweries Plc at the official contract signing ceremony in Lagos also said;
“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. This agreement represents another significant step in our journey, and we are excited to partner with Konexa to reduce our energy costs and cost of production.”
Commercial Director at Konexa, Joel Abrams, while stating that agreement is part of his company’s commitment to supporting industry, national governments, and utilities to achieve clean and reliable 24/7 power in Nigeria and beyond, also explained that that the partnership anchors Konexa’s confidence in the Nigerian power sector.
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He added that the partnership will bring long-term investment and world-class operations to support the sector’s sustainability by improving reliability, quality of service, and job creation.
“We are very pleased to be part of the energy transition that Nigerian Breweries Plc. 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,”
The Chief Investment Officer, Climate Fund Managers Tarun Brahma, said:
“We are proud to support Konexa and look forward to actively supporting Nigerian Breweries Plc. as they demonstrate leadership in driving the decarbonization of their operations in Nigeria”.