Finance

Rensource deploys solar energy system to 2-Way Steel Works Nigeria Ltd


Rensource, West-Africa’s leading SME focused renewable energy company, in partnership with Stellaris Power Solutions (SPS), has deployed a 300kWp solar PV for 2-Way Steel Works Nigeria Ltd, a steel manufacturing company in Kaduna, Nigeria. The solar PV plant will generate 0.5MWh of energy annually and offset over four-thousand tons of carbon throughout the project’s lifetime, improving air quality and benefiting health outcomes in the country. 2-Way Steel Works Nigeria Ltd has thus set the pace to be one of the largest installed solar PV in the steel manufacturing industry in Nigeria. The project, which commenced operations in March 2022, will have an important footprint in terms of sustainability. It will save up to 360 tons of CO2emissions per year and create 20 jobs during its construction and operations phase.

Since venturing into providing Commercial and Industrial (C&I) Renewable Energy solutions to businesses & industries in 2019 with its flagship project in Premium Poultry Abuja, Rensource Energy has signed PPAs to provide over 5MWp of installed solar PV capacity across Nigeria and projects to construct 12MWp by the end of the year.

According to the Council for Renewable Energy Nigeria (CREN), Nigeria has been affected by insufficient power supply which has largely contributed to the paralyzing of industrial and commercial activities in the country. CREN estimates that power outages brought about a loss of 126 billion naira annually. Aside from the huge income loss, it has also resulted in health difficulty because of the exposure to carbon emissions caused by constant use of generators in different households and businesses, unemployment, and high cost of living leading to the degeneration of living conditions. Generators remain inadequate to satisfy the needs of Nigeria. As such, solar energy becomes a great solution as it is cheaper and reduces carbon emissions, which lessens the effect of climate change.

This project will represent the steel manufacturing industry’s largest renewable energy project. The solar PV is expected to operate for 15 years according to the power purchase agreement (PPA).

Commenting on the deployment, Rensource’s COO Prince Ojeabulu said “We are honored to partner with 2-Way Steel Works Nigeria Ltd to provide a state-of-the-art PV solution that generates cheap and clean energy to power 2-Way Steel Works production activities. This successful completion of the PV plant represents Rensource’s commitment to continue to bridge the energy gap hampering economic growth in Nigeria.”

Mr Clement U. Ejeh the CEO/Chairman of 2 Way Steel was also elated by the project, according to him “For years, as big players in steel construction, requiring high electric power to produce, we have had to grapple with the epileptic supply from grid, resulting in high production cost and loss of revenue. Today, that is history, as we operate at full capacity, towering above production targets, all thanks to God that brought Stellaris Power Solutions & Rensource Energy our way! Our power partners come with the rising sun!”

About Rensource Energy

Rensource is a leading West African provider of renewable energy-related services, it specializes in the development and financing of solar-hybrid captive power provision which provides commercial, industrial, and utility customers, solutions that bridge the gap between desired and available power. Rensource deploys any combination of solar power and fossil-fired power, primarily gas and diesel but also including natural gas with appropriate battery storage solutions. Rensource has proven itself with a track record of reliability and consistency in the region.

About 2-Way Steel

2-Way Steel Works Limited is a world class steel manufacturing company into the production of quality fabrication of iron and steel. 2-Way Steel creates the unimaginable with iron to suit clients’ needs, these include silo, palletized, box, container, flat bird, tankers, LPG Bodies amongst others.

About Stellaris Power Solutions

Stellaris Power Solutions is the leading EPC and Engineering Services company with a regional footprint across Africa and the Middle East. Stellaris provides turnkey design, supply, and installation for utility-scale solar tracker projects. As GameChange Solar’s certified, trusted partner and the market’s leading provider of GENIUS TRACKERTM, Stellaris helps its customers meet their renewable energy goals with simple, seamless project execution.

For more information about Rensource energy, please contact:

Tel: +234 901 474 5515

Email: info@rensource.energy

Website: www.rensource.energy



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