Transcorp Energy Limited and Renewvia Solar Nigeria Limited have signed a Memorandum of Understanding to jointly develop renewable energy projects across Nigeria, in a move aimed at addressing the continent’s persistent power deficit.

The agreement also outlines a longer-term plan to expand operations across Africa, positioning both firms to tap into growing demand for clean and reliable electricity.

The partnership will target commercial, industrial and residential consumers, as well as underserved communities, through a mix of off-grid and grid-connected energy solutions.

Beyond electricity provision, the collaboration will explore the aggregation and monetisation of Renewable Energy Credits generated from the projects, adding a commercial layer to the clean energy rollout.

Managing Director and Chief Executive Officer of Transcorp Energy, Chris Ezeafulukwe, said the initiative aligns with the company’s broader strategy to expand access to sustainable power.

He noted that combining grid and decentralised energy systems would enable the company to deliver reliable electricity directly to end-users across different segments of the economy.

Chief Executive Officer of Renewvia, Trey Jarrard, described Nigeria as a critical market for the company’s African ambitions.

According to him, the partnership provides a platform to scale operations rapidly by leveraging established infrastructure and local expertise, while delivering cost-effective and resilient energy solutions.

Both companies said the agreement lays the foundation for a scalable pan-African renewable energy business, capable of supporting diverse markets and accelerating the continent’s transition to cleaner power sources.

The collaboration comes amid increasing pressure on governments and private sector players to deploy sustainable energy solutions to bridge electricity gaps, reduce reliance on fossil fuels, and support economic growth across Africa.