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Nigerian Breweries, CrossBoundary Energy signs $10m solar power deal

The largest renewable energy project in Nigeria’s commercial and industrial sector is being developed by Nigerian Breweries Plc and CrossBoundary Energy under a $10 million solar power agreement.

The two solar and battery storage hybrid projects will be built by CrossBoundary Energy for Nigerian Breweries’ facilities in Ibadan, Oyo State, and Ama, Enugu State, according to the terms of the agreement, which was signed on Wednesday, November 2.

The managing director of Nigerian Breweries, Hans Essaadi, said the solar power plants will assist the business satisfy a large portion of its energy requirements.

CrossBoundary Energy and Nigerian Breweries both referred to the deal as exciting, according to the statement seen by Nairametrics.

Mr. Essaadi said: “We are delighted to be a pioneer in the adoption of solar energy in Nigeria. These additional solar plants will provide a significant portion of our electricity needs and put us well on our way to carbon neutrality.”

The chief Commercial Officer of CrossBoundary Energy, James Shoetan, also said: “We are ecstatic to continue supporting Nigerian Breweries’ sustainability goals and to be providing multiple breweries with cleaner, cheaper power with no upfront investment or technical risk. CrossBoundary Energy is encouraged to see the expansion of the flagship project at NB Ibadan, thereby greatly increasing its sustainable footprint.”

The first phase of Nigerian Breweries Plc’s solar power project in its Ibadan brewery, which was commissioned in 2021, was completed with the help of CrossBoundary Energy.

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