=== (AGENDAWATCHDOG) === A $100m Memorandum of Understanding was recently signed by the Kano State Electricity Distribution Company and a foreign investor, Konexa, for the generation, storage, and distribution of electricity, with Konexa expected to invest $100m on the provision of cutting-edge technology in deploying renewable energy.
Disclosing this at the British High Commission in Abuja, where the MoU was signed, the Chief Executive Officer of Konexa, Pradeep Pursnan, said the agreement was backed by the Nigeria Sovereign Investment Authority and would produce and distribute 10 megawatts of electricity to 30,000 consumers in Kano.
He said, “In the partnership, Konexa will bring investment, provide better service for the customers, as well as help bring the discos to financial health.
“This is important, given the situation of the power sector in Nigeria where Discos in their majority are struggling to pay for the power that is provided to them.
The project is expected to be completed by 2022, in order to quickly replicate same in other states of the federation.
Konexa is partnering with Nigerian distribution companies to rehabilitate the distribution network in Nigeria, meter every consumer, as well as add more generation capacity in order to connect rural areas as well.