Daystar Power, Nigerian Bank of Agriculture agree to cooperative deal for solar energy

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
As part of this deal, Daystar will supply PV power to the bank’s branches, as well as provide a concept for the supply of electricity to rural Nigeria. Image: Crashdburnd / Flickr

The Nigerian Agricultural Bank, the Bank of Agriculture and electricity supplier Daystar Power have signed off on a cooperation deal for rural electrification in Nigeria.

Daystar Power, a pan-African electricity company specializing in the generation of solar energy, with a focus on medium and small-scale solar systems (20KW to 2MW), will install PV systems at the Bank of Agriculture's 158 locations and develop and operate solar power solutions for rural areas in Nigeria. It will also provide a concept for the supply of electricity to rural Nigeria.

Christian Wessels, managing director of Frankfurt-based Sunray Ventures, whcih operates Daystar Power, said: “In Nigeria there is a large gap between electricity production and demand. The rural population in particular suffers from a lack of reliable electricity supply, which has a negative impact on agricultural productivity. By supplying Nigeria's population with clean solar power, Daystar Power enables increased productivity and higher crop yields through better cooling. In this way we contribute to increasing prosperity for the local population.”

Kabir Mohammed Adamu, the CEO of the Bank of Agriculture, added: “The Nigerian government has set itself a target of 30% of renewable energies in the national energy mix by installing new solar plants with a capacity of 30GW by 2030. Our cooperation with Daystar Power will help us achieve this goal.”

Read Next

PV Tech Premium
November 9, 2021
Liam Stoker reports from the halls of COP26, where the likes of US energy secretary Jennifer Granholm and highlighted the need for an all-encompassing but just and equitable energy transition, and explores the role for solar PV.
PV Tech Premium
September 10, 2021
With inaccurate irradiation data potentially impacting profitability estimates of PV projects in Africa, calls have been made for solar players to invest in more accurate measurement tools and work together to support the commercial and industrial (C&I) sector’s growth.
August 5, 2021
Unreliable methods of calculating irradiation in Africa could slash energy savings for commercial and industrial (C&I) solar buyers and reduce investment returns for developers and investors, new research has suggested.
June 16, 2021
Berkeley Energy has raised €130 million in the first close of the Africa Renewable Energy Fund II
June 14, 2021
Mozambique-based coal operator Ncondezi Energy has announced a joint venture (JV) with South African-based NESA to target South Africa’s C&I solar and storage markets.
April 14, 2021
Independent energy trader BB Energy (BBE) has set its sights on Africa’s solar and storage market by acquiring Solarcentury’s Africa-facing division for an undisclosed sum.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
December 1, 2021
Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal

Cyber Monday Flash Sale – 50% off our subscriptions

24 hours only