CBE will finance the 600kW rooftop solar plant and will sell power to Jabi Lake Mall through an innovative 15-year Power Purchase Agreement (PPA). The power offers a cheaper energy alternative and will reduce the shopping centre''s CO2 emissions by over 13,000 tonnes.
"We were looking for a solar solution that could produce clean power for the mall and be a sustainable, self-sustaining alternative to grid and diesel. We are thrilled to partner with CBE to achieve this as we continue to encourage the integration of solar infrastructure across Nigeria. We hope that future generations of Nigerians can enjoy the serenity of one of Abuja''s remaining blue spaces and an important water harvest area."
"We''ve reached a point in Nigeria where solar is transforming how businesses and everyday people are powering their lives. We''re incredibly proud to be supporting Actis in achieving its savings and sustainability goals with this landmark project."
"Recognizing our responsibility to wider society is central to our business and embedded into our investment processes. Cheaper and cleaner power through solar provides an unmissable commercial and environmental opportunity and is fundamentally aligned to Actis'' belief that values drive value."
Soventix is a leading global developer and EPC that specializes in realizing turnkey solar parks and hybrid plants for companies and institutions. Soventix''s pipeline of projects under development exceeds one gigawatt and spans four continents. Soventix has offices in Nigeria, South Africa, Canada, Chile, Great Britain, USA and the Dominican Republic with activities for each of the eight locations managed through its head office in Wesel, Germany
The Wood Factory will undergo a transformative energy shift with the Daystar Power and Abuja Electricity Distribution Company (AEDC) collaboration, switching from diesel generators to a hybrid solar and grid power system. Anticipated benefits include a 44% reduction in energy costs and a 76% annual decrease in carbon emissions.
"We''re delighted to announce this innovative interconnected solar installation in partnership with AEDC. This project wouldn''t have been possible without the support of our partners, USTDA and RMI. Working together with DisCos, we can provide reliable and affordable power to Nigerian businesses which will save on energy costs to reinvest in their operations. And, it is just the beginning; we are looking forward to developing more hybrid solar projects for C&I customers in partnership with DisCos," said Victor Ezenwoko, Country Head, Nigeria and Ghana at Daystar Power.
"We''re thrilled that we''ll soon be switching to solar energy and the grid to power our factory. For many years, we''ve only operated on diesel generators, which is hardly sustainable or affordable. We believe that the future of our business has become brighter with this new partnership," said Mohamed Akar, Director and General Manager of The Wood Factory.
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