The Kano Electricity Distribution Company (KEDCO) has signed a memorandum of understanding (MoU) with Konexa, a renewable energy developer, for electricity generation, storage and distribution.
The agreement was signed by KEDCO, Konexa and the Nigeria Sovereign Investment Authority (NSIA) at the British High Commission in Abuja.
According to the agreement, Konexa will invest $100 million to provide cutting-edge technology in deploying renewable energy solutions.
Pradeep Pursnani, chief executive officer of Konexa, said the agreement “is backed by the Nigeria Sovereign Investment Authority (NSIA)” and would produce and distribute 10 megawatts (MW) of electricity to 30,000 consumers in Kano.
“In this partnership, Konexa will bring investment, provide better service for the customers and help bring the discos to financial health,” Pursani said.
He explained that in improving generation capacity, Konexa would deploy solar power, hydropower, and biopower technologies, adding that the project will be completed by next year and hopes to replicate same project in other states.
“In Kaduna, we will deliver before the end of the year, the investment is around $90 million.
“In Kano we are estimating the project cost to be well over $100 million.”
In her remarks, Aisha Abba-Kyari, associate vice-president at NSIA, said: “We (NSIA) are actually the funds and project managers for the 10 megawatts solar power plants in Kano State.
“It is a presidential initiative which coincided with Konexa and KEDCO’s franchise model that they are developing in the same area.”
She said the project was designed to benefit both communities and industrial clusters.
In October 2020, Konexa partnered with Kaduna Electricity Distribution Company (KAEDCO) to co-develop a private renewable energy generation and distribution sub-franchise project in the state.
It also signed an agreement in November 2020 with the Ogun state government on an investment plan of a 250MW integrated distribution model to service over 50,000 connections.
