Justrite, Norwegian company sign $6.5m solar energy deal

The deal is to replace diesel generation with solar photovoltaics (PV) and batteries at 10 Justrite stores.

The agreement was signed at the opening of the Lagos-Norway Energy Exchange on Monday and witnessed by Anniken Huitfeldt, Norway’s minister of foreign affairs; and Olalere Odusote, Lagos state commissioner for energy and mineral resources.

According to the organisers, the energy exchange is designed for Norwegian companies to learn about Nigeria’s energy challenges and present green solutions.

She said investors were also getting attracted to green investments.

“The past year has made it very clear both in Africa and Europe how fragile we are when energy supplies are threatened,” Norway’s foreign minister said.

“Nigeria and Norway are partners in energy. Norway’s largest energy company, Equinor, started business in Nigeria in 1992. Over 30 years ago.

“Many Nigerian students have studied at the Norwegian University of Science and Technology. And put their education to use when back home in Nigeria.

“Fossil energy has been important to both our nations’ economies. But now we must also look ahead to new sources of energy.

“We are facing a massive green transition. In Africa, Europe and across the globe.”

Huitfeldt commended the Lagos state government for its green transformation efforts.

“Their investment target of one thousand megawatt of solar power within the next seven years is both ambitious and impressive,” she said.

“Norway and Nigeria both have the necessary technology and knowhow on oil and gas production. Today, we both utilise this knowledge in the green transition.”

“We’re going to work with anybody that’s going to give us sustainable energy in a manner that takes on a sector of the market starting from the less affluent market,” Odusote said.