A Memorandum of Understanding has been signed for the development of a Power-as-a-Service solution in Nigeria. The MoU was signed between AP Renewables and PowerGen.

The project is designed to transition retail outlets from conventional diesel generators to distributed renewable energy systems. About 10 MW of renewable energy will be provided by this solution. However, the project will start with Ardova retail stations in Nigeria. These will serve as energy hubs, supplying electricity to nearby small businesses, homes, and communities.

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Remarks on the proposed Power-as-a-Service solution in Nigeria

“Ardova is pleased to collaborate with PowerGen to increase the production of alternative energy. Additionally, this alliance confirms our commitment to the clean energy revolution. This desire is consistent with PowerGen’s objective to promote sustainability and effectiveness through the use of renewable energy.”

“Furthermore, accelerating the switch to renewable energy will have a positive economic growth impact, which is our strategic objective. This is reflected in our operational structure from a traditional downstream company to a leading integrated energy organization poised for renewable energy solutions. With the Power-as-a-Service Solution in Nigeria, we will be able to address the energy shortage as well as advance economic, social, and governmental (ESG) goals,” said Olumide Adeosun, CEO of Ardova Plc said.

Aaron Cheng, CEO of PowerGen on the other hand said, “We are thrilled to collaborate with Ardova on this ground-breaking project. This project will offer nearby small companies stable power, energy cost savings, and a decrease in CO2 emissions. In the rapidly changing energy market, Ardova is paving the way by exemplifying how business leaders can commit to renewable energy solutions that advance economic, social, and governance (ESG) goals.”

Additionally, the Power-as-a-Service solution in Nigeria can have various benefits in Africa, and Nigeria in particular. Including lower upfront costs because it spares consumers from having to pay for their own energy equipment upfront.