GENESIS Energy Holding, a UK-based Pan-African clean energy infrastructure development and asset management company, has announced signing a memorandum of understanding with the Katsina State Government for a $500m investment.
According to a statement, this investment will enable the development, financing and execution of a series of major energy infrastructure projects across the 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.
Commenting on successfully executing the MoU, Governor Dikko Radda, 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.”
Meanwhile, 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.
It affirmed that this partnership will establish Katsina State as a leading clean energy hub, not only in Nigeria but across the West African region.
On his part, the Chairman and Chief Executive Officer of Genesis Energy, Mr Akin Omoboriowo, said, “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 industrialise the State and position it as a major player in clean and renewable energy generation.”
According to Omoboriowo, the primary objective of this collaboration is to address the state’s growing energy needs and support the Nigerian government’s broader energy security and sustainability goals.
“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 noted.
