Abuja — In a significant move to bolster Nigeria's energy sector, the Rural Electrification Agency (REA) of Nigeria and Havenhill Synergy Limited have signed a Memorandum of Understanding (MoU) to deploy up to 250mw of Decentralised Renewable Energy (DRE).

Managing Director of REA, Abba Aliyu, highlighted the significance of the MoU, describing it as a landmark, a statement from Havenhill stated.

"The Renewable Energy Service Companies (RESCOs) model aims to provide developers with a platform to become utility companies where they can be able to attract investment to deploy mini grids.

"These developers have the capacity and track record to not only deliver mini grids but to manage large portfolios of projects as well as scale up. This MoU demonstrates our commitment to roll-out this RESCOs model... We look forward to this mutually beneficial partnership," Aliyu said.

With the collaboration, Havenhill said it will be deploying and operating up to 250mw DRE projects including Interconnected Mini-grids (IMGs), isolated mini-grids, commercial and industrial (C&I) solutions and agricultural solutions across rural and peri-urban areas.

Chief Executive of Havenhill Synergy, Olusegun Odunaiya, expressed his enthusiasm, stating that electricity remains the backbone of the company's infrastructure.

"Havenhill is committed to this cause. With our track record in the energy access space and footprints in the commercial & industrial sector and other utility scale-up initiatives, we will collaborate effectively with REA to fulfil this mandate and make Nigeria a better place to live in," Odunaiya stated.