NIGERIA – Premium Poultry Farms, Nigeria’s largest egg producer has entered into an agreement with renewable energy supplier, Rensource Energy and Empower New Energy, an impact investment company based in Norway to install a solar photovoltaic system at its facility.
The 700 KWp solar photo-voltaic plant will generate 1 gigawatt hour of clean energy annually, saving up to 25 000 tons of CO2 in its lifetime, expected to operate for at least 25 years, thus contribute to Nigeria’s fight against air pollution.
“We take immense pride in being good stewards of the environment and are pleased to further enhance our efforts with this solution.”Alhaji Mahey Rasheed – Chairman of Premium Poultry Farms
The farm produces 600, 000 eggs daily and has its own feed mill. This project, which is slated to commence operations before the end of the year, will create 40 jobs during its construction and operations phase.
“We take immense pride in being good stewards of the environment and are pleased to further enhance our efforts with this solution. Sustainability is at the heart of the farm’s philosophy,” says Alhaji Mahey Rasheed, Chairman of Premium Poultry Farms.
“This project also allows us to benefit from the substantially lower energy costs offered by the solar PV technology and we are excited to become the largest solar-powered poultry farm in the country,” he added.
According to a press-release by Empower, this landmark project is one of the largest power purchase agreements for solar energy signed in the Commercial & Industrial (C&I) sector in Nigeria and will represent the poultry industry’s largest single clean energy project.
“Empower is very pleased to collaborate with Rensource Energy in order to finance this project with Premium Poultry Farms, which reflects the success, dynamism and growth of Nigeria’s renewable energy sector.
“Our investment fund is poised to accelerate Africa’s transition to clean energy and this is evident in how quickly we have able to mobilise financing for this crucial project,” said Terje Osmundsen, Founder and CEO of Empower New Energy.
Empower New Energy is an award-winning impact investment company investing in small and medium-scale renewable energy projects across Africa through its investment vehicle Empower Invest.
The investors in the fund include Norfund, Norway’s Investment Fund for developing countries; ElectriFI, the electrification Financing Initiative, funded by the EU; and a group of private impact investors.
Rensource who is the provider of the service in the project is focused on developing, financing, and managing critical infrastructure for African enterprises.
“This solution for Premium Poultry Farms, Nigeria’s largest egg producer, demonstrates our ability to meet the energy needs of a diverse array of industrial customers.
“We are honored to supply affordable clean energy to further grow Nigeria’s critically important agricultural sector, while cutting emissions,” said Ademola Adesina, founder and CEO of Rensource.
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