NB Plc, Konexa to deploy renewable energy to Kaduna breweries
Nigerian Breweries Plc, yesterday, signed a power purchase agreement with Konexa, an integrated energy development and investment platform to deliver 100 per cent renewable energy that will fully cover the electricity needs of its two breweries in Kaduna state.
The decision, according to the firm, is in line with its business strategy and ‘Brew a Better World’ sustainability agenda. The supply of clean, renewable energy to its Kakuri and Kudenda breweries will take the company one step closer in its quest to becoming carbon-neutral in future.
Under the terms of the ten-year agreement, Nigerian Breweries Plc has outsourced the power supply for its critical loads for its breweries, converting from fossil fuels into a full-service renewable energy solution, using hydropower sources.
This project is co-funded by Climate Fund Managers and Konexa. Speaking during the official contract signing ceremony in Lagos, the Managing Director of Nigerian Breweries Plc., Hans Essaadi, described the agreement as another significant milestone for NB Plc.
He 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.”
In his remarks during the signing ceremony, the Commercial Director at Konexa, Joel Abrams, explained that the 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.
He added that the partnership anchors Konexa’s confidence in the Nigerian power sector and 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,” he added.
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”.