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    Saturday, June 22, 2024

    RIPLEnergy Signs MoU With GIB EnergyX to Establish Battery Plant In Nigeria

    Nigeria’s RIPLEnergy Company Limited (“RIPLE”) and GIB EnergyX Slovakia s.r.o. (“GIB”) have agreed to co-develop a state-of-the-art assembly plant in Nigeria for Battery Energy Storage Systems (BESS).

    This initiative which was sealed by the signing of a Memorandum of Understanding (MOU) between the two organisations is designed to support RIPLE’s renewable energy investments and supply consistent 24/7 electricity to meet commercial and industrial demands.

    RIPLE and GIB want to establish an end-to-end battery value chain in Nigeria, starting with assembly and progressing to full-scale manufacturing and recycling. “This holistic closed-loop approach ensures sustainability throughout the battery lifecycle – from mining to recycling – thereby minimizing environmental impact and promoting resource efficiency”.

    RIPLE, a US$500 million renewable energy investment platform launched by the Nigeria Sovereign Investment Authority (NSIA) in November 2023, aims to drive development, financing, and operation of projects across the renewable energy value chain.

    This spans from upstream renewable technology manufacturing to energy generation and downstream distribution through sub-franchising in collaboration with distribution companies.

    A statement issued by both RIPLE and GIB EnergyX of Slovakia in Abuja on Thursday said Mr. Yusuf Umar, Managing Director and Chief Executive Officer of RIPLE, expressed enthusiasm about the partnership.

    “At RIPLE, we are excited to partner with GIB on this initiative which is a major leap forward in our commitments to sustainable energy. Our goal is to help build Nigeria’s industrial base, commencing with this comprehensive battery manufacturing. We are committed to ensuring that our operations are efficient and sustainable. We believe this partnership will be pivotal in advancing Nigeria’s clean energy infrastructure and fostering long-term environmental stewardship” he said.

    The collaboration leverages GIB’s advanced technology and expertise, alongside RIPLE’s local knowledge and project execution capabilities.

    “The project aims to catalyze the development of a localized BESS ecosystem, facilitating the widespread deployment of renewable energy technologies and expanding access to energy. Additionally, the plant aims to export to regional markets, positioning Nigeria as a key player in the renewable energy supply chain and providing a significant source of foreign exchange” the statement read.

    Steven Cai, Chairman of GIB EnergyX and Director at Gotion HighTech Co, highlighted the strategic importance of this collaboration. “Nigeria is an exciting and fast-growing market hungry for electricity. RIPLE’s strategy is key in meeting Nigeria’s increasing energy demand and overcoming the inadequacy of the traditional energy networks and infrastructure through firm renewable energy solutions, complemented by energy storage.

    He added that “GIB will partner with RIPLE in the quest for the localisation of BESS assembly in Nigeria. Gotion is the majority owner of GIB, with a top-tier competitive position in BESS and Electric Vehicle (EV) battery technology and Giga factory manufacturing and localisation expertise.

    “We are excited to explore this co-development with RIPLE to create the local assembly value-chain delivering a range of BESS with our LFP technology which should significantly benefit Nigeria’s economic growth and energy transition journey towards net zero through access to 24/7 renewable electricity” he said.

    According to the NSIA, Nigeria’s Energy Transition Plan emphasizes expanding the nation’s generation capacity and ramping up renewables-backed electrification to facilitate decarbonisation across various economic sectors.

    This has resulted in increasing demand for renewable energy solutions and complementary battery storage systems as efficient alternatives to address the country’s energy deficit. Presently, this demand for battery storage systems is largely met through imports from Europe and China.

    This collaboration has the potential to transform Nigeria’s energy landscape and propel the nation towards economic prosperity, driven by responsible renewable energy practices utilizing solar generation and Distributed Smart Grid technology. The project aims to foster the development of a local BESS ecosystem, supporting the nation’s renewable energy goals and contributing to global efforts to combat climate change.

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