CrossBoundary Energy, an African renewable energy investment fund, has signed a 15-year agreement to supply Nigerian Breweries Plc (NB) with solar energy from an off-grid system.
NB is a major brewery in the south-eastern city of Ibadan, Nigeria with Dutch Group Heineken owning a 37.5 percent stake in the company. CrossBoundary specializes in off-grid solar roof projects.
The Ibadan plant, which produces Heineken beer, will soon run off solar energy with the installation expected to supply 650 kilowatts.
“The solar power plant will supply one gigawatt hours per year to the Ibadan brewery, at a price significantly lower than current electricity costs, while reducing the site’s CO2 emissions by more than 10,000 tonnes per year over the lifetime of the facility,” CrossBoundary stated.
Although the power purchase agreement between CrossBoundary and NB will terminate after 15 years, the off-grid system will continue to operate for an additional 10 years.
The collaboration forms part of Heineken’s Drop the C programme, which aims to increase the share of energy produced from renewable sources from 14 percent to 70 percent by 2030.