By SUNDAY ABBA, Abuja
The Nigerian Rural Electrification Agency, REA, has signed signed Memorandum of Understanding (MoU) with Oando Clean Energy Limited ,OCEL.
The MoU signing done at REA’s headquarters in Abuja on Tuesday aims to boost collaboration between the private sector and government agencies towards the deployment of sustainable renewable energy access across the country.
The partnership formalisation is a follow-up to the success of the recently held Solar Power Naija, SPN, investor matchmaking event, a statement from the agency explained.
“As the Agency continues to play a key role in the nation’s off-grid, renewable energy space, it has maintained a strong history of drawing in private sector investment, facilitating inter-sectorial collaboration and ultimately, aiding the implementation and delivery of fit-for-purpose off-grid solutions nationwide.
“A key player in the energy space, the Oando brand activated its clean energy subsidiary, Oando Clean Energy Limited, OCEL, in 2021.
“The REA – Oando collaboration marks the beginning of another timely and strategic partnership targeted at exploring new approaches to clean energy development for socio-economic impact in post-subsidy Nigeria,” the statement noted.
Speaking at the MoU signing ceremony, the Managing Director/CEO of the Rural Electrification Agency, Engr. Ahmad Salihijo Ahmad, explained that one of the best ways to mitigate the effects of fuel subsidy removal in Nigeria is through the exploitation of opportunities to optimise the critical role of renewable energy.
He expressed delight about the partnership, saying “it will bring about mutually beneficial collaboration, knowledge exchange, and experiences targeted at achieving the common goal of optimising renewable energy.
While commending the REA deeming it fit to leverage the role of the private sector players to deliver on the task access to sustainable energy across the country, the President and CEO of Oando Clean Energy Limited, Dr. Alex Irune, stated that “Oando is keen on renewable energy and is excited for this opportunity to create value that the country needs.
Expressing confidence in the fruitulness of the collaboration with REA, the Oando Energy boss said, “What the REA has effectively done is to take the bull by the horn and de-risk investment opportunities.
“I wouldn’t be signing this MoU today if there wasn’t the enabling environment provided by the REA. I commend the REA on their approaches, programmes and achievements over the years. These approaches are sustainable”.
The Executive Director, Technical Services at the REA, Engr Barka Sajou, while explaining the Agency’s determination to deliver fit-for-purpose electrification projects, explained that “delivering on sustainable energy access across the nation must go beyond just connections to serving as an enabler of growth in communities while targeting electrification projects to people’s sources of livelihood”.
The Head of Solar Power Naija Programme, Barbara Izilien, explained that the agency continues to deepen private sector engagements, targeted at drawing in sustainable funding while expanding access across the nation.
According to Barbara, the intention for this collaboration is to encourage private sector investment to deploy sustainable renewable energy projects across the country.