Transcorp Energy, Renewvia Solar accelerate clean energy in Nigeria, Africa
Transcorp Energy Limited, (“Transcorp Energy or the Company”) the integrated energy development and services subsidiary of Transnational Corporation Plc, (“Transcorp Group”) and Renewvia Solar Nigeria Limited, the Nigerian subsidiary of
Transcorp Energy Limited, (“Transcorp Energy or the Company”) the integrated energy development and services subsidiary of Transnational Corporation Plc, (“Transcorp Group”) and Renewvia Solar Nigeria Limited, the Nigerian subsidiary of U.S.-based renewable energy developer Renewvia Energy Corp, have signed a Memorandum of Understanding (MOU) to collaborate on the development, construction, and operation of renewable energy projects in Nigeria with a clear pathway for expansion across Africa.
The collaboration will deliver renewable energy solutions across key sectors of the economy, serving commercial, industrial and residential customers as well as selected commercially viable communities through off-grid and grid-connected platforms.
This initiative is designed to increase access to clean, reliable power, targeted at bridging Africa’s significant energy gap while enabling the aggregation and monetisation of Renewable Energy Credits derivable from developed projects.
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Commenting on the collaboration, Chris Ezeafulukwe, MD/CEO of Transcorp Energy Limited, said: “At Transcorp Group, we are committed to bridging the energy deficit in Africa. This partnership with Renewvia Energy is aimed towards realising Transcorp Energy’s strategic objective of consistent provision of renewable energy solutions across all facets of our economy. We intend to leverage both grid and off grid solutions to deliver clean, sustainable energy to end users”
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Trey Jarrard, Chief Executive Officer of Renewvia, added: “Nigeria is a cornerstone market for Renewvia’s Africa strategy. Partnering with Transcorp Energy allows us to scale rapidly by anchoring projects to high quality assets and trusted institutions, while delivering long-term value through clean, resilient, and cost effective power solutions. This collaboration reflects our broader commitment to expanding reliable renewable energy across Africa.”
To Transcorp Energy and Renewvia Energy, the collaboration reflects a shared long-term vision to develop a scalable pan-African renewable energy business, capable of supporting different segments across energy markets in Africa.
