Watt Secures $10M Deal with Prominent African Bank for 5.6MW Power Delivery in Nigeria

WATT Renewable Corporation (WATT), the independent provider for sustainable solar power solutions, has agreed a USD$10m contract with a major African bank to deliver 5.6MW of power to several sites across Nigeria.

WATT is a private independent producer of clean energy technology, delivering sustainable energy solutions utilizing an innovative mix of photovoltaics (PV), advanced energy storage technology and genset. It provides turnkey engineering, procurement & construction (EPC) and operations and maintenance (O&M) services across Africa, the United States and Canada.

The agreement includes the installation of solar panels, inverters, and batteries to be the main power source for the financial institution’s branches within the scope of the deal, with the first tranche of sites set to be completed and operational by August 2023. Subsequent phases of work included within the deal are expected to be completed by the end of the year. WATT will then be responsible for the operations and maintenance for seven years.

As one of WATT’s largest deals to date in terms of power output delivery, the branches are set to receive up to 343kWh/day of solar power, and energy storage capacity as high as 117kWh. The contract is expected to create an estimated 100 local jobs, including site managers and maintenance engineers, as well as further roles that will be created indirectly through contractor installation and commissioning roles.

While also being a more reliable clean energy source, the new power installations will also provide a reduction in CO2 emissions and noise pollution for local communities, by eliminating a reliance on diesel generators that would typically power everyday infrastructure in remote areas.

Oluwole Eweje, Chief Executive Officer of WATT, commented “West Africa is on the cusp of a digital transformation that will unlock social and economic opportunities for millions of people, and this deal will play an important role in this by providing clean, reliable power to local financial institutions in remote areas that rely on digital networks.

“Beyond this, this project allows us to do what means so much to us at WATT. From installation and commissioning to operations and maintenance, this project goes beyond providing power, it offers local employment opportunities and ensures that those living local to the branches we will be supporting have access to them indefinitely and without risks of power outages or downtime.”