ABUJA, Nigeria (VOICE OF NAIJA)-Genesis Energy Holding, a UK-based pan-African clean energy infrastructure development and asset management company, has signed a memorandum of understanding (MoU) with the Katsina State Government for a $500 million investment in energy infrastructure.
According to a statement issued by the company, the investment will support the development, financing, and implementation of several key energy infrastructure projects across Katsina State.
“The agreement outlines a strategic partnership for the development, financing, construction, operation, and maintenance of key energy projects. These projects aim to accelerate the industrialisation and socio-economic advancement of Katsina State and provide clean, reliable, and sustainable energy solutions for the region,” the statement said.
Governor Dikko Radda described the partnership as a pivotal move towards improving energy access and fostering long-term development in the state.
“This partnership is a significant step toward providing reliable, cost-effective, and environmentally friendly power solutions, fostering economic growth, and attracting investments to Katsina State,” he said.
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“This MOU represents a major milestone in our ongoing efforts to build resilient infrastructure that will not only address Katsina’s immediate energy needs but also lay the foundation for a prosperous and greener future for generations to come.”
He further disclosed that the first project under the agreement is expected to be commissioned before the end of April 2025.
The MoU outlines a collaborative framework for a wide range of energy solutions, including solar, wind, hydro, mini-grid systems, and natural gas technologies.
The agreement also positions Katsina State to become a leading clean energy hub in Nigeria and across West Africa.
Chairman and CEO of Genesis Energy, Mr. Akin Omoboriowo, reiterated the company’s commitment to the continent’s energy transformation.
“Lighting Up Africa is more than just a vision for GENESIS; it is the very heartbeat that drives us. We are committed to enduring the rigorous process of developing and financing projects to bring sustainable energy solutions to the continent,” he stated.
“For GENESIS Energy, this marks a significant milestone as we continue to actively partner with Katsina State in achieving energy independence, creating a pivotal opportunity to industrialise the State and position it as a major player in clean and renewable energy generation.”
Omoboriowo added that the partnership aims to meet the state’s increasing energy demands while aligning with Nigeria’s broader energy security and sustainability targets.
“The MoU lays the foundation for creating a multi-phased energy platform that will provide power to critical sectors, including healthcare, industry, and agriculture while contributing to the regional transition to a green economy,” he said.