Nigerian Breweries in partnership with Cross-boundary Energy
The leading pioneer brewing company, Nigerian Breweries Plc has announced its strategic partnership with Cross- boundary Energy, an investment firm that focuses on solar projects and facilities.
The fully financed solar Power Purchase Agreement with Cross-boundary Energy is the first of its kind for a major Nigerian business customer.
The agreement is set to change the dependence on the distribution company in Ibadan to supply electricity for factory use.
Cross-boundary Energy is to manage 663.6 kWp solar plant at Nestle factory in Ibadan, Nigeria and to operate the rooftop facility on behalf of Nigerian Breweries as part of a 15-year solar services agreement. Under the agreement, Nigerian Breweries will only pay for solar power produced, receiving a single monthly bill that incorporates all maintenance, monitoring, insurance, and financing costs.
The solar plant is expected to supply approximately 800 MWh to the brewery annually 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.
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