Oando Clean Energy Limited (OCEL) and the Rural Electrification Agency (REA) have signed a Memorandum of Understanding (MOU) to develop a 1.2 gigawatt (GW) solar energy project in Nigeria.
This was revealed by Oando through a press release where it further unveiled that the project is part of the $950 million Distributed Access through Renewable Energy Scale-Up (DARES) initiative, funded by the World Bank and the Japan International Cooperation Agency.
According to Oando, the solar energy project will include the construction of an off-grid power plant, mesh electricity generation, and an interconnected power grid. Oando Clean Energy will implement the project in phases, starting with a 600 megawatt (MW) solar photovoltaic (PV) assembly line which will serve the local and regional markets and will be the first solar modular assembly plant in Africa with a recycling line.
Speaking on repurposing dysfunctional solar panels into raw materials, Ademola Ogunbanjo, CEO of Oando Clean Energy Limited, emphasized on the project’s innovation. He said,
“This is Africa’s first solar module assembly plant with a recycling line that will see old and dysfunctional solar panels recycled into raw materials for various purposes,”
REA’s Managing Director/CEO, Abubakar Abba Aliyu, also noted that it would boost Nigeria’s renewable energy sector and enhance electricity access while creating jobs through local manufacturing. He said,
“This collaboration is a game-changer, not just in expanding access to electricity but in positioning Nigeria as a renewable energy hub.”
The REA and Oando Clean Energy partnership aims to increase access to electricity in Nigeria, particularly in rural areas and this project is expected to connect 17 million consumers and create jobs, stimulate economic growth, and improve the quality of life for millions of Nigerians.
