PowerGen, an African renewable energy utility, and AP Renewables, a subsidiary of Nigerian energy firm Ardova PLC, recently signed a memorandum of understanding (MoU) to develop renewable energy through the ‘Power-as-a-Service (PaaS)’ business solution. Under the agreement, both firms would develop more than 10 MW of renewable energy in Nigeria.
The future project will seek to drive energy cost savings as well as reductions in carbon emissions for Ardova’s retail stations across Nigeria. These retail stations act as energy hubs that provide electricity to local businesses and communities within their surroundings.
The new deal aims to reduce Nigeria’s dependence on diesel generators in favor of solar photovoltaic and battery energy storage systems. The country’s national grid suffers frequent power cuts due to insufficient capacity and outdated infrastructure.
AP Renewables has the mandate of profitably driving its transition into the renewable energy business segment through solutions such as the Power-as-a-Service. PowerGen develops and operates next-generation power infrastructure in Africa.
Olumide Adeosun, CEO of Ardova, said their partnership with PowerGen reiterates the company’s efforts in Africa’s clean energy revolution. Ardova will deliver innovative solutions in addressing energy gaps with PaaS, contributing to socio-economic and governance goals.
Aaron Cheng, CEO of PowerGen, said the partnership is in line with the company’s objective to drive sustainability and efficiency through the deployment of clean energy solutions. Ardova has demonstrated how an industry leader can commit to renewable energy in evolving power landscape.
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