Oando Plc Favour Ifeoluwa & Akinola Ajibade Oando Plc says it has completed and won the bid for the operatorship of oil block KON 13 in Angola. The firm which recently acquired Eni of Italy’s oil assets in Nigeria, said that the award of the oil block located in Angola’s onshore Kwanza Basin followed a competitive bidding process by the country’s oil and gas sector regulator. It further said hat the asset in which it owns 45 per cent participating interest, has estimated prospective resources of 770 to 1,100 million barrels of oil. Oando is handling its operations relating to the asset through its upstream subsidiary, Oando Energy Resources (OER). “Oando Plc, Africa’s leading indigenous energy solutions provider listed on both the Nigerian Exchange Limited and Johannesburg Stock Exchange is pleased to announce that its upstream subsidiary, Oando Energy Resources (OER), has been awarded operatorship of Block KON 13 in Angola’s Onshore Kwanza Basin, following a...
By Akinola Ajibade
The Ibadan and Ama Breweries may soon get Solar and Battery Storage Hybrid) projects, if all go according to plans.
The two are some of the breweries owned by the Nigerian Breweries Plc( NB) in the country.
The planned projects are courtesy of the Nigerian Breweries Plc (NB) and CrossBoundary Energy agreement sealed recently.
In a statement made available to the News Mirror, the deal is valued at about $10 million, coupled with the fact it will be one of the largest renewable energy projects for a business in Nigeria.
In line with the agreement, CrossBoundary Energy will expand the current renewable energy system at NB’s Ibadan Brewery from a 663 kWp solar PV plant to a hybrid solar-plus-storage facility consisting of a 3 MWp solar PV system and a 2 MW/2 MWh battery energy storage system (BESS).
NB's Corporate Affairs Director, Sade Morgan, said: “NB’s Ama brewery will receive a 4 MWp solar PV plant and a 2 MW/2 MWh BESS. The solar plants combined will supply approximately 10 GWh annually to the Ibadan and Ama breweries at a significant discount to their current cost of power.
“This project will reduce the site’s CO2 emissions by 100,000 tonnes over the lifespan of the plants, she stated.
Morgan said the CrossBoundary Energy would fully finance the development and construction of the Ibadan and Ama renewable energy facilities, and would operate both facilities as part of a 15-year solar services agreement with NB.
“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,” she stated.
Managing Director of Nigerian Breweries Plc, Hans 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. Expanding our renewable energy capabilities will ensure that Nigeria Breweries delivers on our environmental commitments under our Better A Better World (BABW) Sustainability initiative, and is in line with the global Net Zero targets set by our parent company HEINEKEN.”
Chief Commercial Officer for CrossBoundary Energy, James Shoetan, said: “We’re 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.”
CrossBoundary Energy has engaged Soventix to design and build both solar plants, and DHYBRID Power Systems to design and supply the BESS and hybrid control system for both projects. Upon completion of construction, Soventix will provide operations and maintenance services for both facilities.
General Manager for Soventix in Nigeria Alexandros Aris Papachristou, said: “We are grateful that we, as an Energy Solutions partner for Nigerian Breweries and CrossBoundary Energy can contribute to the renewable goals of Nigerian Breweries with our custom-made energy solutions and best-in-class operations and maintenance operations.”
The projects will support the local employment of approximately 80 people during the construction phase, and at least two dozen people when the plants are operational. The projects also enable private direct investment to support Nigeria’s recently reaffirmed commitment to net zero by 2060.
Through financing packages like the one being offered by CrossBoundary Energy, Nigeria’s renewable energy sector can provide much-needed green jobs, tap global capital, improve access to affordable, reliable power for businesses, and enable Nigeria to fulfil its enormous economic potential.
This milestone is another significant step in strengthening the 5 years partnership between Nigerian Breweries and CrossBoundary Energy. Recall that both companies had partnered to complete the first phase of NB Plc’s solar power project in its Ibadan brewery which was commissioned in 2021 – a first of its kind in Nigeria.
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