Nigeria: Kano DisCo Signs $100m Deal

Kano State Electricity Distribution Company has signed a $100 million contract with energy company, Konexa for the generation, distribution and storage of renewable energy across the northern state.

Under the contract, Konexa will deploy solar power, hydropower, and biopower technologies to consumers in Kano.

Konexa CEO, Pradeep Pursnan noted at the signing of the Memorandum of Understanding that the project will produce and distribute 10 megawatts of electricity to 30,000 consumers in the state. He also noted that the project was backed and supported by the Nigeria Sovereign Investment Authority. 

“In the partnership, Konexa will bring investment, provide better service for the customers, as well as help bring the DisCos to financial health. This is important, given the situation of the power sector in Nigeria where DisCos in their majority are struggling to pay for the power that is provided to them. So, Konexa, we believe, will significantly help in addressing the power sector in Nigeria,” Pursnan said.

He added that the project will be completed by 2022 in a bid to replicate the same projects in other states of the country with Kaduna next before the end of 2021.

Source: https://punchng.com/kano-disco-signs-100m-deal-with-foreign-firm/

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Africa Oil & Power Transforms into Energy Capital & Power

The transition represents the company’s commitment to the future of energy investment, sustainability, inclusiveness and diversification.
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