Nigerian Breweries Plc (NB) has entered into a strategic partnership with CrossBoundary Energy to pioneer Nigeria’s first solar-powered brewery. The fully-financed solar Power Purchase Agreement for a major Nigerian business customer happens to be the first of its kind in the country. The solar energy plant will become operational this year, supplying 1GWh annually to the Ibadan brewery at a significant discount to their current cost of power, while reducing the site’s CO2 emissions by over 10,000 tonnes over the lifespan of the plant.
Speaking on the deal, the Managing Director of NB, Jordi Borrut Bel said the brewing company is delighted to conclude the adoption of solar energy in Nigeria. “The solar plant will help power our world-class brewery in Ibadan, enabling us to deliver on commitments under our ‘brewing a better world’ initiatives and supporting Heineken’s global ‘drop the c’ program for renewable energy,” Borrut said.
How The Firms Will Explore The Deal
CrossBoundary Energy will be installing and operating a 650 kw solar plant located at NB’s Ibadan Brewery. It will operate the rooftop facility on behalf of Nigerian Breweries as part of a 15-year solar services agreement. Under the agreement, NB will only pay for solar power produced, receiving a single monthly bill that incorporates all maintenance, monitoring, insurance and financing costs.
About The Company
Nigerian Breweries Plc is the pioneer and largest brewing company in Nigeria. It serves the Nigerian market and exports to other parts of West Africa. The firm engages in brewing, marketing, and selling of lager, stout, non-alcoholic drinks, and soft drinks in Nigeria.
The company was formerly known as Nigerian Brewery Limited before it changed its name to Nigerian Breweries Plc in 1990. The company was founded in 1946 and is headquartered in Lagos, Nigeria. Nigerian Breweries traded ₦75 on the floor of the Nigerian Stock Exchange (NSE) as at Monday, March 18, 2019.