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

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{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} 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.”

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nigeria, africa, daystar, nigerian agricultural bank, sunray ventures