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PowerGen signs MOU with Ardova for up to 10MW solar through “Power-as-a-Service” model-

February 13, 2023

AP Renewables and PowerGen have signed a Memorandum of Understanding to develop a “Power-as-a-Service (PaaS)” business solution, which is designed to transition retail outlets from conventional diesel generators and grid power supply to distributed renewable energy systems (DREs) consisting of solar PV and battery storage.

This solution will deliver 10+ MW of renewable energy solutions.Starting with Ardova’s retail stations across Nigeria, this project will drive energy cost savings and CO2 emission reductions for Ardova PLC, helping its business profitability and sustainability goals. Ardova’s retail stations will operate as energy hubs that will provide electricity to small businesses, households, and communities within its surrounding environment.

AP Renewables (APR) is a fully-owned subsidiary of Ardova PLC with the mandate of profitably driving its diversification into the renewable energy business segment through several streams, one of which is the Power-as-a-Service.

PowerGen is a leading renewable utility operating across Africa. PowerGen develops and operates the next generation of power infrastructure to deliver clean, reliable, and affordable electricity to its customers.

“Ardova is proud to collaborate with PowerGen to drive the generation of alternative power. This partnership reiterates our efforts in the clean energy revolution. This aspiration aligns with PowerGen’s objective to drive sustainability and efficiency through the deployment of renewable energy.

Our strategic goal is to accelerate the transition of renewable energy in impacting economic growth. This is reflected in our operational structure from a traditional downstream company to a leading integrated energy organization poised for renewable energy solutions. With Power as a Service Solution, we will be delivering innovative solutions in addressing energy deficit while contributing to economic, social, and governance (ESG) goals”.– Olumide Adeosun, CEO of Ardova PIc

“We are excited to partner with Ardova on this innovative project that will deliver energy cost savings, CO2 emission reductions, and reliable power to small businesses in surrounding areas. Ardova is leading the way in demonstrating how industry leaders can commit to renewable energy solutions in the evolving energy landscape contributing to economic, social and governance (ESG) goals”. -Aaron Cheng, CEO, PowerGen.