Brewery giants, Nigerian Breweries Plc, has signed a historic power purchase agreement with Konexa, an integrated energy development and investment platform to deliver 100% renewable energy that will fully cover the electricity needs of its two breweries in Kaduna State.
This bold step is in line with its business strategy and ‘Brew a Better World’ sustainability agenda, according to a statement by Corporate Affairs Director, NB, Sade Morgan.
She said the supply of clean, renewable energy to the Kakuri and Kudenda breweries will take the company one step closer to its quest to becoming carbon-neutral in the future.
Under the terms of the 10-year agreement, Nigerian Breweries will outsource the power supply for its critical loads for its breweries, converting from fossil fuels into a full-service renewable energy solution, using hydro-power sources.
This project is co-funded by Climate Fund Managers and Konexa.
Speaking during the official contract signing ceremony held at the company’s head office in Iganmu, Lagos, on May 17th, the Managing Director, NB Plc., Hans Essaadi, described the agreement as another significant milestone for the brewer.
He was quoted as saying: “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.”
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.
In his remarks, the Commercial Director at Konexa, Joel Abrams, explained that the agreement is part of Konexa’s commitment to supporting industry, national governments, and utilities to achieve clean and reliable 24/7 power in Nigeria and beyond.
He said 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 decarbonisation of their operations in Nigeria.”
Recall that in 2021, Nigerian Breweries inaugurated its 663.6KWP solar power plant at its Ibadan brewery, which supplies 1GWh yearly to the brewery while reducing its carbon emissions by 10,000 tonnes over a 15-year lifespan of the plant.
