RIPLEnergy Company Limited (RIPLE) has announced the signing of a Memorandum of Understanding (MoU) with GIB EnergyX Slovakia s.r.o (GIB) to co-develop a state-of-the-art assembly plant in Nigeria to supply Battery Energy Storage Systems (BESS) in support of RIPLE’s Renewable Energy investments to supply commercial and industrial demand for 24/7 electricity.
This initiative has the potential to transform Nigeria’s energy landscape and propel the nation’s journey towards economic prosperity, fuelled by responsible renewable energy practices utilising solar generation and Distributed Smart Grid.
By leveraging GIB’s advanced technology and expertise as well as RIPLE’s local knowledge and excellent project execution capabilities, the project is expected to catalyse the development of a localised battery BESS ecosystem, facilitating the widespread deployment of renewable energy technologies and expanding access to energy. Additionally, the plant will look to export to other regional markets, positioning Nigeria as a key player in the renewable energy supply chain and providing a vital source of foreign exchange.
Nigeria’s Energy Transition Plan emphasizes the need for expansion of the nation’s generation capacity and the ramping up of renewables-backed electrification to facilitate decarbonisation across various sectors of the economy. 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. Currently, this demand for battery storage systems is largely met through imports from Europe and China.
RIPLE and GIB are both committed to establishing 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 minimising environmental impact and promoting resource efficiency.
The Managing Director and Chief Executive Officer of RIPLE, Yusuf Umar, said: “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”.
Commenting on the deal, Chairman, GIB EnergyX and Director, Gotion HighTech Co, Steven Cai, enthused: “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. 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 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 technology which should significantly benefit Nigeria’s economic growth and energy transition journey towards net zero through access to 24/7 renewable electricity”, Cai added.
RIPLE is a US$500 million vertically-integrated renewable energy investment platform launched in November 2023 by the Nigeria Sovereign Investment Authority (NSIA) to drive the development, financing, and operation of projects across the renewables value chain – from upstream renewable technology manufacturing to energy generation, and downstream distribution through sub-franchising in partnership with distribution companies.
GIB (Gotion-InoBat-Batteries) is a joint venture between Gotion High Tech and InoBat based in Slovakia. GIB was launched at COP 28 in Dubai on 5 December 2023. GIB’s focus is in the EMEA regions, offering localisation platforms to suitable partners aiming to create eco-hubs and battery value-chains to meet the demand for e-mobility and for green energy from stationary BESS.
Photo Caption
L-R: Executive Director and Chief Investment Officer of Nigeria Sovereign Investment Authority (NSIA), Mr. Kolawole Owodunni; Managing Director GIB, Mr Pavol Krakos; and Managing Director RIPLE, Mr Yusuf Umar; during the signing of the MoU on the BESS Assembly Plant
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