REA, NASENI  Seal $150 Million Deal With Chinese Investors To Boost Battery Manufacturing

REA, NASENI  Seal $150 Million Deal With Chinese Investors To Boost Battery Manufacturing

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In a move towards enhancing Nigeria’s renewable energy infrastructure, the Rural Electrification Agency (REA) and the National Agency for Science and Engineering Infrastructure (NASENI) have inked a $150 million pact with SHENZEN LEMI Technology Development Company, aimed at bolstering battery manufacturing capabilities within the country.

Malam Mutari Ibrahim, REA’s Director of Promotion and Outreach, expressed enthusiasm in a statement issued on Friday in Abuja, underlining the significance of the agreement with SHENZEN LEMI Technology Development Company.

Ibrahim highlighted the collaboration’s role in creating a dedicated Lithium-Ion Battery manufacturing facility in Nigeria, scheduled to commence in phases from the second quarter of 2024.

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“The signing of this collaboration, backed by a $150 million investment from LEMI, is a significant stride towards our nation’s pursuit of universal electricity access by 2030 and achieving net-zero emissions by 2060,” Ibrahim stated.

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The collaborative efforts, instigated following Nigeria’s participation in COP 28 in Dubai, were orchestrated by the Ministry of Power in collaboration with China’s Ministry of Ecology and Environment.

Ibrahim emphasized that this initiative is poised to serve as a pioneering move for Africa under the Light and Belt Initiative, aligning with global climate technology advancement objectives.

Moreover, Ibrahim emphasized the collaboration’s potential to fortify NASENI’s core mandate, particularly under its new leadership, to spearhead research and development for capital goods.

The primary emphasis would be on production and reverse engineering, propelling local mass production of standardized components, thereby bolstering the nation’s technological advancement in the electricity sector.

“The investment in Lithium-Ion energy storage manufacturing signifies a significant step toward achieving a low-carbon economy, potentially reducing CO2 emissions by over 20 percent per Kilo Watts per hour (KWh) capacity compared to traditional lead-acid technology,” Ibrahim asserted.

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This partnership, Ibrahim highlighted, seeks to not only strengthen public-private cooperation but also foster job creation, and economic growth, and support the extractive industry, emphasizing the pivotal role of energy storage in transitioning to renewable energy sources and combatting climate change.

The collaborative strides between REA, NASENI, and SHENZEN LEMI Technology Development Company signal a monumental leap toward Nigeria’s sustainable energy future, promising a pathway to harnessing indigenous technological innovation while reinforcing the nation’s commitment to a greener and more electrified tomorrow.

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