A UK-based leading Pan-African clean energy infrastructure development and asset management company, GENESIS Energy Holding signed a Memorandum of Understanding (MOU) with the Katsina State Government for a US$500million investment.
This investment is aimed at enabling the development, financing and execution of a series of major energy infrastructure projects across the State.
The Governor of Katsina State, Dikko Radda during the signing said: “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.
“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. The first of the series of projects being constructed under this partnership will shortly be commissioned before the end of this April 2025”.
The MOU outlines the framework for the collaborative development of a diverse portfolio of energy projects, focusing on solar, wind, hydro, mini-grids, and natural gas solutions. This partnership will establish Katsina State as a leading clean energy hub, not only in Nigeria but across the West African region.
The Chairman and CEO of Genesis Energy, Mr. Akin II Omoboriowo, also explained that “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. 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 industrialize the State and position it as a major player in clean and renewable energy generation.”
The objective of this MOU is to address the State’s growing energy needs and support the Nigerian Government’s broader energy security and sustainability goals. It is believed it will lay 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 transition to a green economy.
The signing marks a significant milestone in the strategic collaboration between GENESIS Energy and the Katsina State Government with commitment by both parties to ensuring the successful implementation of major impactful energy infrastructure projects across the State through transparent, and good faith cooperation.