Nigerian Breweries has signed a deal with Daystar Power for a 4.3 megawatts peak solar plant in its Lagos brewery. This is according to a November 28 statement by Daystar.
According to the statement, Daystar Power has been contracted to set up and manage a solar plant with a capacity of 4.2 megawatts peak (MWp) along with a 2-megawatt-hour (MWh) battery storage system.
This installation marks a significant step as one of the largest solar and battery storage projects tailored for an industrial manufacturer within Nigeria.
The solar-powered system will be a hybrid solution that will annually produce 5,249 megawatt-hours (MWh) of electricity, accounting for 42% of the daytime power consumption at Nigerian Breweries’ brewery in Lagos.
Integrating solar energy into the factory’s power supply will significantly reduce reliance on diesel generators, displacing an estimated 31.4 million litres of diesel and preventing an estimated 84,758 tons of CO2 emissions over the project’s 20-year operational span.
The statement also highlighted the fact that the collaboration between Nigerian Breweries and Daystar Power to implement a hybrid solar and battery storage system aligns with Heineken’s pledge to reduce its production-related carbon footprint by 2030 and achieve complete decarbonization across its entire value chain by 2040.
Jasper Graf von Hardenberg, the CEO of Daystar Power, expressed enthusiasm about the agreement with Nigerian Breweries, considering it a significant achievement within their Nigerian portfolio.
He emphasized their pride in supporting Heineken’s commitment to embracing renewable energy and accelerating its transition toward sustainability.
He said:
- “We are thrilled to sign an agreement with Nigerian Breweries for this milestone project, one of the largest in our portfolio in Nigeria. We could not be prouder to support Heineken as it accelerates its adoption of renewable energy.”
There is a strong interest in climate investing – Report
According to Standard Chartered’s latest Sustainable Banking Report for 2023, there is potential to use around $3.4 trillion, from individual investors in key markets across Asia, Africa, and the Middle East. This money could be directed toward initiatives that tackle climate change by the year 2030.
The report identifies a wider $8.2 trillion of retail capital potential in sustainable investing and shows that climate investing is gaining traction.
$2.1 trillion could be directed to climate mitigation, with investors showing high interest in renewables, energy storage and energy efficiency; a further $1.3 trillion could be channelled into climate adaptation, across resilient infrastructure, food systems, biodiversity and the blue economy.
The findings showed that more than 90% of investors surveyed expressed an interest in investing in initiatives related to climate change.
However, only about 20% of these investors are ready to commit significant amounts of money toward these efforts.
