More Jobs For Nigerians as Slovakia, Nigerian Firm Moves to Establish Battery Assembly Plant
- The Nigerian government and a Slovakia energy firm have agreed to develop a battery assembly plant
- Nigeria’s RipleEnergy Company Limited and GIB EnergyX Slovakia signed an MoU to establish the plant in Nigeria to drive energy access
- RIPLE’s investment spans renewable technology manufacturing to energy generation and downstream distribution
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.
Nigeria’s RipleEnergy Company Limited and GIB EnergyX Slovakia have agreed to develop a state-of-the-art assembly plant for Battery Energy Storage systems (BESS).
The initiative was sealed during the signing of an MoU between the companies and is designed to support RIPLE’s renewable energy investments and supply consistent electricity for commercial and industrial use.
Source: Getty Images
RIPLE to invest in renewable energy
RIPLE and GIB want to establish an end-to-end battery value chain in Nigeria, beginning with assembly and processing and continuing to full manufacturing scale throughout the battery lifecycle, spanning mining and recycling.
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RIPLE is a $500 million renewable energy investment platform launched by the Nigeria Sovereign Investment Authority (NSIA) in November last year. It aims to drive the development, financing, and operation of projects that access the renewable value chain.
RIPLE’s investment spans renewable technology manufacturing to energy generation and downstream distribution via sub-franchising in partnership with distribution companies.
According to reports, RIPLE and GIB expressed enthusiasm over the partnership, which will leverage GIB’s advanced technology expertise and RIPLE’s local knowledge and project execution capabilities.
NSIA to invest in renewable energy technology
The Nation reports that NSIA said that Nigeria’s Energy Transition Plan emphasizes expanding the country’s generation capacity and ramping up renewables-backed electrification to boost decarbonization across various economic sectors.
The development comes amid the launch of Villaya Flex by Energy solutions company Schneider Electric.
The company unveiled the Villaya Flex at a press conference during the Energy Access Investment Forum (EAIF) conference, which focused on universal access to sustainable energy, and was held at Eko Hotels in Lagos.
Unveiling the Villaya Flex, a Schneider Electric official disclosed that the product is a packaged and comprehensive microgrid solution that minimizes solar energy and reduces reliance on polluting generating sets.
Nasarawa State to commission Nigeria's largest Lithium processing plant
Legit.ng previously reported that the federal government will, in May, commission Nigeria’s first and largest lithium processing plant, which produces about 4000 metric tonnes daily in Nasarawa state.
The Nasarawa state Governor, Abdullahi Sule, disclosed this while briefing journalists in Abuja on the forthcoming Nasarawa Investment Summit (NIS) 2024, which will be held from May 15 to May 16 in Lafia, the state capital.
Governor Sule, who said that he had already met with the Minister of Solid Minerals, Mr Dele Alake, about the commissioning of the Lithium Processing Plant, added that the state's residents would benefit from its industrial revolution in the state.
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Source: Legit.ng
