Daystar Power and Bank of Agriculture partner for rural electrification project in Nigeria
Daystar Power, the electricity supplier, and Bank of Agriculture, the Nigerian bank, have joined a comprehensive cooperation to electrify rural Nigeria.
The partnership will see Daystar Power install and operate solar power systems in the bank’s 158 locations, as well as rural areas in the country.
This will allow the bank’s branches to be supplied with renewable power and supply energy to rural sites, as part of the Bank of Agriculture’s continued focus on rural development.
“In Nigeria there is a large gap between electricity production and demand,” remarked Christian Wessels, Managing Director at Sunray Ventures, owner of Daystar Power.
Nigeria launches Trader Moni initiative to provide loans to traders
Ethiopia Airlines could become strategic partner for Nigeria Air
Niger and Nigeria sign MoU for oil refinery to boost economic development
Read the latest issue of Business Chief, Africa edition, here
“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.”
“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 30 GW by 2030,” stated Kabir Mohammed Adamu, Managing Director and CEO of the Bank of Agriculture.
“Our cooperation with Daystar Power will help us achieve this goal.”