Green Village Electricity (GVE) Projects Limited signs agreement

Home / News / Green Village Electricity (GVE) Projects Limited signs agreement
Posted On: 10.22.2019

PRESS RELEASE
Friday 18th October 2019 – Abuja, Nigeria – History was made today in the electricity industry of Nigeria as
Green Village Electricity (GVE) Projects Limited signed a tripartite agreement with Abuja Electricity Distribution Company (AEDC) Plc. and Wuse Market Traders Association for the development of a One (1MW) Megawatt interconnected mini-grid system in Wuse Market FCT – Abuja as part of GVE’s Distributed Renewable Energy commercialization initiative aimed at the delivery of reliable power supply to underserved economic clusters like markets, industries, plazas, estates, MSMEs etc across Nigeria. Over 300 more sites has been identified and will be developed.

Wuse market, the busiest economic cluster located in Abuja, the capital city of Nigeria is the first private sector led interconnected mini-grid solution to be deployed in Nigeria.

The project will provide 24/7 electricity supply to over 5,000 traders who operate in the market and will also lead to the displacement of over 3,000 petrol/diesel generators thereby mitigating significant amount of GHGs. The project will transform Wuse market into Nigeria’s first 100% green and generator free economic cluster in the largest black nation of the world. The project will also lead to the extension of trading hours in the market thereby significantly increasing the productivity, income and profitability of traders in the market while ensuring sizable cost reductions when compared with current alternative power sources available to the traders.

This initiative aligns with expectations of the Federal Government of Nigeria’s (FGN) Energizing Economies Initiative (EEI) delivered through the Rural Electrification Agency (REA). This initiative is also supported by AEDC’s recent grant of US$1.06m by USTDA to support studies to identifying and developing similar projects.

Green Village Electricity (GVE) Projects Limited is the leading distributed renewable energy solutions provision company in Sub-Saharan Africa. GVE’s business footprint covers the design, sales, installation and maintenance of renewable energy solutions for residential, commercial, industrial and rural off-grid or under-served communities through commercially sustainable business models in line with our clients’ needs.

Abuja Electricity Distribution Company (AEDC) Plc. is one of the 11 power distribution companies that was successfully privatized and handed over to new investors on 1 November 2013. AEDC has a franchise for the distribution and sale of electricity across an area of 133,000 km2 in the Federal Capital Territory, Niger State, Kogi State and Nassarawa State.

Wuse Market Traders Association (WUMATA) is an Incorporated Trustee duly registered under the laws of the Federal Republic of Nigeria acting as the legally authorized representative of Wuse Market Cluster.

The Nigerian Rural Electrification Agency (REA), set up by the Federal Government of Nigeria (FGN) with the primary objective of increasing electricity access to rural and underserved communities has developed the offgird electrification strategy. Part of this strategy is to fast track some of its development initiatives towards achieving the overall objective of the FGN Economic and Recovery Growth Plan (ERGP) and the Power Sector Recovery Programme (PSRP). REA is providing enabling environment and facilitation of the project to boost socio-economic growth.

To learn more, please visit: www.gve-group.com Media Contact: contactus@gve-group.com

Archives

Media Contacts

445 Hose Lane
Plscataway, NJ 08854, U.S.A

+1 732 562 3915
smartvillagestaff@ieee.org