- Konexa, Norfund, and CFM commit $3.6m to develop a 50mw solar plant and upgrade industrial grids in Lagos and Enugu.
- Project targets Nigerian Breweries facilities and aims to unlock $80m in further investment by late 2025.
- Initiative supports Nigeria’s Vision 30:30:30, cutting 30,000 tonnes of CO₂ annually and creating 135 jobs.
UK-based energy company Konexa has secured $3.6 million to build a 50-megawatt (MW) solar plant and upgrade industrial grid infrastructure in Nigeria.
Konexa partnered with Norfund and Climate Fund Managers (CFM) to fund the project. The team plans to use solar energy to power Nigerian Breweries’ facilities in Lagos and Enugu states.
Climate Investor One, managed by CFM and backed by the European Union, will contribute half the capital. Konexa and Norfund will each supply 25% of the funding.
Konexa launched this renewable energy programme in 2024 with support from the Microsoft Climate Innovation Fund and the EU. The programme introduced a private electricity trading platform to improve industrial power access.
The second phase will involve building a solar photovoltaic plant and reinforcing nearby grid infrastructure. Konexa aims to supply reliable, clean energy to Nigerian Breweries’ industrial sites.
The partners expect to attract up to $80 million in additional investments by the time construction begins in the second half of 2025.
Konexa wants to help commercial users cut dependence on diesel and gas generators. The model also strengthens grid stability in nearby communities.
The project will create 100 construction jobs and 35 permanent roles. The solar system will cut about 30,000 tonnes of carbon dioxide emissions annually.
Konexa did not list carbon reduction as the project’s primary goal. The team prioritises reliable and affordable power for industries.
Many Nigerian industries depend on expensive self-generated power. The weak national grid and unreliable supply continue to push businesses toward costly diesel solutions.
Konexa’s model offers industries a cleaner and cheaper energy alternative.
The project supports Nigeria’s Vision 30:30:30, which targets 30% of electricity generation from renewable sources by 2030.
The project will also feature energy storage. This will ensure a continuous electricity supply under existing power purchase agreements.
In March 2024, Konexa completed the program’s first phase, which cost $18 million and connected Nigerian Breweries’ Kaduna plants to private solar infrastructure.
With this second phase, Konexa will expand the model to Lagos and Enugu. The team will focus on grid upgrades and storage enhancements.
Konexa’s electricity trading platform connects renewable generators to industrial consumers. The platform helps create a more efficient and transparent energy market.
The EU and its partners designed the blended finance model to reduce risks and draw in private capital.
Norfund, Norway’s development finance institution, supports clean energy and job creation in Africa. The agency said the project fits its development goals.
Konexa sees this initiative as a blueprint for clean energy deployment across Nigeria’s industrial zones.
Konexa also improves electricity access for nearby homes and businesses by focusing on large industrial clients. The grid upgrades offer benefits beyond the project’s primary sites.