UK, Nigeria energy firms sign agreement on £14m infrastructure investment

Konexa, an energy firm in the United Kingdom, and North South Power (NSP), a Nigerian power generation company, signed a landmark energy agreement on Tuesday.

It was witnessed by Kemi Badenoch, UK’s business and trade secretary during the signing of the enhanced trade and investment partnership (ETIP) in Abuja.

The United Kingdom had earlier, in a statement, announced it would sign a new deal with Nigeria to boost trade, investment and unlock new opportunities in various sectors.

The energy deal also includes over £14 million in infrastructure investments, which will create jobs and boost the local economy.

Commenting on the energy deal, Pradeep Pursnani, Konexa chief executive officer (CEO), said it is a very important milestone for Konexa, North South Power, Nigerian Breweries, and all their investment partners.

“Over the last few years, Konexa has been working on a disruptive model that matches customer energy demand with renewable energy supply,” Pursnani said.

“We are looking forward to investing more than £120m in renewable energy generation, transmission, distribution, and battery storage solutions to help our customers transition away from the use of fossil fuel.”

This agreement will enable Konexa to supply Nigerian Breweries Plc with 100 percent renewable power, promote sustainable development, and clean energy adoption.