Konexa, Norfund & CFM to develop 50 MW solar project in Nigeria

Climate Fund Managers and Norfund backed Konexa with over $80 million to build a 50 MW solar plant and link Nigerian Breweries sites in Lagos, Enugu.

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By Prudhvi Rani in Business Bytes Project Bytes
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The project by Konexa has targeted 30,000 tons in annual CO₂ cuts and improved power access for Nigerian Breweries and other industrial users.

The project by Konexa has targeted 30,000 tons in annual CO₂ cuts and improved power access for Nigerian Breweries and other industrial users. Image Credit/Source: Fabersam/Pixabay

UK-based Konexa, an energy developer and investor has secured over $80 million in funding for its renewable energy expansion in Nigeria. It signed a Development Funding Agreement with Climate Fund Managers and Norfund to complete development work and initiate construction of a 50 MW solar PV plant. The project includes new grid connections for Nigerian Breweries Plc facilities in Lagos and Enugu State. An initial $3.6 million investment was expected to unlock the total project funding. The initiative aimed to reduce 30,000 tons of CO₂ emissions annually and improve power access for commercial and industrial users. Supporting partners included the European Union, FS Impact Finance, and Nigerian Breweries Plc. 

#NigerianBreweries #ClimateFundManagers #Norfund #Konexa
Advertisment {'id': '6822e5e4f33ec6e4e19e2fcb', 'source_name': 'Konexa', 'source_link': 'https://www.linkedin.com/company/konexaenergy/posts/', 'contact_name': 'Hasana bello Aliyu ', 'contact_email': '[email protected]'}
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