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Business News of Monday, 13 November 2023

Source: legit.ng

Energy firm successfully deploys historic 1MW solar plant to power Kano mall

A Nigerian firm installs the biggest solar panel in Nigeria A Nigerian firm installs the biggest solar panel in Nigeria

A Nigerian energy firm, Heavenhill Limited, has announced the successful deployment of a 1MW solar PV plant at Ado Bayero Mall, a modern shopping mall in Kano.

The feat reportedly represents Nigeria's most significant solar plant purchase agreement for shopping.

The power plant will generate about 1.28GWh of clean energy annually and is estimated to offset approximately 1,797.48 metric tons of CO2 emissions annually, equivalent to the positive environmental impact of planting over 70,000 trees annually.

Features of the solar panel Olusegun Odunaiya, Heavenhill CEO, revealed that the power plant attests to the company's dedication to providing innovative energy solutions in Nigeria.

Amid the backdrop of the rise in the cost of petrol and diesel, Odunaiya stated that there is an immense potential for large-scale adoption of solar energy in Nigeria.

He said: "With co-financing from Sterling Bank Plc, this project highlights the importance of local currency investments for developing power infrastructure in Nigeria."

Spanning over 10 hectares, the mall provides: A vast 24,000 m² of retail and entertainment space. Accommodating both local and international shopping retailers.

A modern multi-screen cinema. A variety of offerings, including restaurants and media stores. The solar PV system's integration powers critical infrastructure within the facility, including chillers, water treatment plants, the administrative building, and the various stores.

Solar panel to provide 1GW of electricity

The mall's transition to solar power aligns with its commitment to sustainability and significantly contributes to reducing carbon emissions and minimising operational costs, the company stated.

The operators of Ado Bayero Mall, Beverly Dev.$ Realties Limited, disclosed their excitement at the milestone achieved with the Solar PV plant. The company revealed that the move is a significant step in its commitment to sustainable operations and reinforces its dedication to environmental responsibility. The company said it is thrilled to be at the forefront of eco-friendly initiatives in Kano.

The Group Head of Oil and Gas, Power, and Renewable Energy at Sterling Bank, Dele Faseemo, said the installation shows the viability of powering commercial properties with renewable energy sources.

The Bank said: "With rising energy costs, powering commercial properties in a sustainably affordable manner will become the norm soon."

The company championed the project's development under her Energising Commerce & Industry business unit via a long-term power purchase agreement.

The company's feat comes amid dwindling electricity supply in Nigeria, with perennial grid collapse affecting homes and businesses in Nigeria.