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Konexa has signed an agreement with KEDCO and NSIA for the development of renewable energy in Kano.
- Together with the NSIA, Konexa intends to invest $100m.
- Konexa has several ongoing projects in Kaduna State, including the construction of solar power plants with a total capacity of 2.5 MW.
British solar energy developer Konexa has signed an agreement with Kano State Electricity Distribution Company (KEDCO) and the Nigeria Sovereign Investment Authority (NSIA) to develop renewable energy in the state.
Konexa intends to invest $100 million together with the Nigeria Sovereign Investment Authority (NSIA). The company intends to utilise solar energy given the solar potentials in Northern Nigeria. According to KEDCO’s managing director, Jamil Gwamna, the partnership will allow KEDCO to attract investment to improve the reliability and quality of supply for our customers.
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Konexa intends to help KEDCO to expand its distribution network to 10 MW by 2022. Konexa will also provide other services, including the rehabilitation of the distribution network and maximising revenue from the sale of electricity to consumers under the agreement.
“This is important given the state of the electricity sector in Nigeria, where many DisCos are struggling financially, even if it is to pay for the electricity supplied to them. So, we believe that Konexa will make a significant contribution to solving the problem of the electricity sector in Nigeria,” says Pradeep Pursnani, Konexa’s managing director.
Konexa is also looking towards replicating its development in KEDCO in other distribution franchise areas. Konexa already has several ongoing projects in Kaduna State, including developing small-scale solar power plants with a total capacity of 2.5 MW. Konexa also has plans of acquiring 30MW from a decommissioned hydroelectric power plant.
Konexa received a grant from the US Trade and Development Agency (USTDA) in 2020 for these projects.