…opt for affordable power, carbon transition

Stakeholders in energy sector of the economy converged  in Awka, Anambra State where they weighed in on alternating adoption of grid, diesel and solar energy sources to keep manufacturing  industries running optimally in order to overcome high energy cost and settle for affordable power to meet up with the demands of  production and services.

They expressed belief that  innovative financing, strategic partnerships and technology-driven approach would bring about sustainable solutions to the rising cost and unreliable supply of energy which, according  to them, has remained one of the major constraints to industrial growth in the South-East.

These positions were canvassed during the end of the MAN South-East Industrial Energy Solutions and Investment Symposium, organised by (MAN), Anambra, Enugu and Ebonyi States Branch,held in Awka, Anambra State, with the theme, “Unlocking Affordable Industrial Power through Innovative Financing, Technology and Strategic Partnerships.”.

The major highpoint of the initiative was the overwhelming support for carbon neutrality and future carbon credit opportunities, with its potential of not only  lowering electricity costs, but enabling manufacturers to participate in the global transition towards cleaner industrial production.

In her welcome address, host and Chairman of  South-East Zone of MAN, Lady (Dr) Lady Ada Chukwudozie disclosed that manufacturers adopting cleaner energy solutions would not only improve operational efficiency,  but also reduce carbon emissions, strengthen their Environmental, Social and Governance (ESG) credentials and move towards carbon neutrality.

Chukwudozie who is also the Chairman of Keystone Bank  noted that, where projects satisfy internationally recognised verification standards, manufacturers could also unlock opportunities within emerging carbon-credit markets, creating additional long-term value while contributing to Nigeria’s climate commitments.

According to her, the meeting was designed to find practical and sustainable solutions to the energy challenges confronting manufacturers in the Zone.

She observed that the initiative followed  feedback from industry players and beneficiaries who consistently express concerns with rising cost of energy, stressing that the event was intended at pulling critical stakeholders together to move manufacturers from interest to implementation.

Chukwudozie said that Keystone Bank has joined the initiative as a Strategic Banking Partner and financial-services provider in  recognition of the important role  finance plays  in industrial transformation, and participated as a strategic banking partner.

The Bank joins other financing stakeholders in supporting the commercial structuring of projects, financial advisory services and the development of bankable industrial-energy investments.

In his contribution, the  Chairman of Anambra State Electricity Regulatory Commission (ASERC), Prof. Frank Nwoye Okafor, who served as keynote speaker, provided regulatory perspectives on the development of a more efficient electricity market capable of supporting industrial activities.

Declaring the programme open, the National President of MAN, Otunba Meshioye  commended the Anambra, Enugu and Ebonyi Branch for developing a practical implementation framework capable of helping manufacturers’ transition from expensive and unreliable power to affordable and  sustainable industrial energy solutions.

Meshioye emphasized on energy affordability and reliance as one of the most critical demands for improving Nigeria’s industrial competitiveness. Speaking during the occasion, the State Governor, Chukwuma Soludo represented by the Secretary to State Government, Mrs. Chiamaka Nnake reiterated the commitment of the government towards providing full regulatory support and an enabling environment for industrial investment, infrastructure development and sustainable economic growth.

The governor while commending MAN for convening a practical solution-driven initiative further promised the participants of the State Government’s continued collaboration to enable it achieve its lofty objectives.

In his remarks, Honourable Commissioner for Power and Water Resources, Engr. Chukwudi C. Agumadu  reaffirmed the State Government’s commitment to expanding access to reliable electricity for productive sectors of the economy, stressing that industrial development and job creation have a nexus in a resilient energy ecosystem.

Presenting an implementation of  integrated energy transition framework developed by the Managing Director of the MAN Power Development Company Limited (MPDCL), Mr. Owe Sam pointed out that MPDCL was established by MAN as its specialised energy platform to coordinate practical solutions for manufacturers.

He noted that  MPDCL, working  with strategic technical, financial  and implementation partners, has developed an integrated delivery model that simplifies industrial energy transition by bringing together project development, engineering, financing, technology and implementation within one coordinated framework.

According to him, the model  helps participating manufacturers to reduce energy costs by as much as **40–45 per cent**, depending on each company’s operational profile and project configuration.

As part of its innovative financial contributions to supporting industrial energy transition, a Norwegian renewable-energy investment company said the structured  financing model, supported by, Empower New Energy, enables qualified manufacturers to access modern industrial energy infrastructure without the burden of significant upfront capital expenditure, hence its placement for adoption of cleaner and more efficient energy solutions.

Leading international and local technology and engineering Huawei Technologies, which participated as a strategic technology partner, said it  provides  intelligent digital-power solutions, smart photovoltaic systems and advanced Battery Energy Storage Systems (BESS) capable of integrating solar generation, battery storage and grid power to improve industrial energy reliability.

Apart from Contec Global Energy Limited, representatives of Paras Energy and Natural Resources Limited  made inputs, clarifying that  it serves as the strategic engineering and project implementation partner, providing engineering, procurement, construction and technical delivery services required for successful deployment.

One of the major takeaways from the Symposium was the presentation of Juddy-Bolema Industries Limited as one of the pioneering manufacturers that participated  in the programme.

The Symposium also marked the commencement of the CEO Energy Transformation Clinic where manufacturers will engage directly with MPDCL, Empower New Energy, Huawei, Paras Energy, Keystone Bank and other strategic partners.

The Managing Director, Jude Onyebu presented the company’s energy-transition project, which will serve as an important demonstration of the integrated financing, technology and implementation model.
Discussions at the symposium focused on the need for manufacturers to explore alternative and renewable energy sources, while financial institutions, government agencies and technology providers were urged to develop funding and technical solutions that would make industrial power more affordable and reliable.

Stakeholders noted that the high cost of electricity and dependence on expensive self-generation through diesel and other fossil fuels had continued to increase production costs, weaken competitiveness and threaten the survival of businesses.

Speaker after speaker made contributions including the Real Estate Developers Association of Nigeria (REDAN) on the relationship between reliable energy supply, property development and investment.

They stressed that resolving the energy challenge would not only reduce the cost of production but also strengthen local industries, attract new investments, create jobs and contribute to sustainable regional economic  stability.

The event also featured plenary sessions, investment and financing opportunities, technology and innovation showcases, a CEO solutions forum, exhibition and business-to-business networking.

The Symposium brought together senior government officials, regulators, financiers, technology companies, engineering partners, development partners, and manufacturers in the Industrial sector of the economy.