Page 19 - AfrElec Week 45 2022
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AfrElec RENEWABLES AfrElec
Nigerian Breweries signs
$10mn renewables deal with
CrossBoundary Energy
NIGERIA NIGERIAN Breweries PLC (NB) has signed a receiving a monthly bill that includes all main-
$10mn contract for the largest renewable-energy tenance, monitoring, insurance and financing
project for a private business in the West Afri- costs, said company managing director Hans
can country, the company announced on Friday Essaadi.
(November 4). “These additional solar plants will provide a
The deal with CrossBoundary Energy, significant portion of our electricity needs and
which invests in renewable projects in Africa, put us well on our way to carbon neutrality,” he
will provide two renewable-energy facilities for said, as quoted by Dow Jones.
NB’s breweries in Ibadan and Ama, Dow Jones Electricity power supply in Nigeria is grossly
reports. inadequate. As a result, homes, offices, manufac-
CrossBoundary will supply the two brewer- turing companies and other businesses rely on
ies with around 10 gigawatt hours of renewable generators to provide electricity on a daily basis,
energy a year at a significant discount. It will also the news agency notes.
fully finance the development and construction NB was listed on the Nigerian Stock Exchange
of the facilities, and operate them as part of a (NSE) in 1973. As at 31 December 2019, it had
15-year solar services agreement. a market capitalisation of approximately NGN
NB, a member of the Heineken Group, has 472bn, making it one of the largest companies in
nine breweries and two malting plants in Nige- the country by market capitalisation.
ria. It will pay for the solar power produced,
Masdar to develop 10GW wind
farm project in Egypt with Infinity
EGYPT UAE’S Masdar, a fast-growing renewable energy 42% of its energy mix by 2035.
company, signed an agreement along with its The wind farm will also save Egypt an esti-
Infinity Power joint venture with Infinity, Egypt’s mated $5bn in annual natural gas costs, and help
main renewable energy developer, and Hassan create as many as 100,000 jobs, Masdar said in a
Allam Utilities to invest in developing a 10 GW statement. Direct employment in the construc-
onshore wind farm project in Egypt – one of the tion phase is estimated at around 30,000, with
largest wind farms in the world. more than twice as many people being employed
When completed, the 10 GW wind farm will indirectly. After construction, around 3,200 jobs
produce 47,790 GWh of clean energy annually will be added for operation and maintenance.
and offset 23.8mn tonnes of carbon dioxide Established in 2014, Infinity is fully owned
emissions – equivalent to around 9% of Egypt’s by the offspring of late Egyptian businessman
current CO2 emissions. Ismail Lotfy Mansour, the scion of the Mansour
The project will be part of Egypt’s Green Cor- Group of companies that own tobacco interests
ridor initiative – a grid dedicated to renewable to McDonalds and Caterpillar franchises in
energy projects – and will contribute to Egypt’s Egypt.
goal of ensuring renewable energy makes up
Week 45 09•November•2022 www. NEWSBASE .com P19
