Nigerian Breweries procures renewable energy for 2 breweries

Nigerian Breweries Plc will buy 100% renewable power to fully meet the electricity demand of its two breweries in Kaduna state.

Nigeria’s largest brewer said last week that it signed a 10-year power purchase agreement (PPA) with Konexa, a Sub-Saharan Africa-focused energy developer and investor backed by private equity firm Industry Capital. Thanks to the contract, Nigerian Breweries’ Kakuri and Kudenda breweries will transition from fossil fuels to renewable energy coming from hydropower sources.

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According to the announcement, the project is co-funded by Climate Fund Managers and Konexa.

Nigerian Breweries said the deal is part of efforts to become a carbon-neutral company under its Brew a Better World agenda and will reduce its energy costs.

“This agreement is particularly significant in the current context of increasing energy costs from traditional fossil fuels,” Climate Fund Managers chief investment officer Tarun Brahma said, adding that the solution can apply to many businesses across Nigeria.