Taiwo Hassan 
In its drive for a 100 per cent renewable energy transition for two of its breweries, Lagos and Ama breweries, Nigeria’s foremost brewing company, Nigerian Breweries Plc, has signed a historic power purchase agreement with Konexa, a United Kingdom (UK)-based energy developer and investor.
This bold step aligns with its business strategy and ‘Brew a Better World’ sustainability agenda. The transition of the company’s operations to renewable energy across the country reflects its commitment to the journey toward carbon neutrality across its footprints.
Climate Fund Managers (CFM), a climate-focused blended finance investment manager and existing investor in Konexa, will provide development funding for the project via its EU-supported Climate Investor One fund.
Konexa and third-party co-financiers will also provide funding. It will be recalled that the company signed a 10-year agreement with Konexa in 2022 to supply clean, renewable energy to its Kakuri and Kudenda Breweries to become carbon neutral.
Speaking during the official contract signing ceremony held at the company’s head office in Iganmu, Lagos, recently, the Managing Director of Nigerian Breweries Plc., Mr. Hans Essaadi, described the agreement as a significant milestone in the company’s 100 per cent renewable energy transition.
Essaadi said: “This partnership underscores our commitment to reducing carbon emissions, lowering operational costs, and achieving net zero before 2030.
“Nigerian Breweries recognises the critical role of renewable energy infrastructure in Nigeria, particularly amidst frequent outages.
“Our collaboration with Konexa demonstrates our dedication to accelerating the transition to renewable energy in our operations, and we look forward to a successful partnership with Konexa and their sponsors CFM, given their solid track record in renewable energy deployment in Africa.”
“We look forward to working with Konexa to achieve this transition, especially in the face of the increasing cost of fossil fuels,” he added.
Also speaking during the ceremony, the Chief Executive Officer, Konexa, Pradeep Pursnani, said the company was excited to be part of a project aimed at helping NB Plc move toward a more reliable and sustainable power source in its operations.
“With CFM’s support, we are advancing the development of key renewable energy infrastructure in Nigeria, helping companies like NB Plc’s transition to sustainable, reliable power and reduce their costs.
“This project is a significant step forward in achieving NB Plc’s, and Nigeria’s, renewable energy and decarbonisation goals,” Pursnani said.
In his remarks, Climate Fund Managers Regional Head of Africa, Darron Johnson, said the funding support for the project represented the company’s commitment to assisting NB Plc reduce its dependence on fossil fuels.
“Phase Two of our investment in Konexa is another crucial step forward in the modernisation of Nigeria’s power grid.
