Unilever, Others to Unlock Investment in Clean Energy Infrastructure in Nigeria

September 19, 2022
clean energy infrastructure

By Adedapo Adesanya

Seven companies operating in Nigeria; AB InBev, Akamai, HP, Iron Mountain, Lady Lawyer Foundation, Rife International and Unilever, have signified their intention to support the clean energy transition by procuring clean energy in the country.

Together, the companies seek to unlock investment in clean energy infrastructure arising from commercial and industrial sector operations.

Many of these companies are already working with their supply chain partners in Nigeria and confirm the desire to support their suppliers with clean energy procurement once suitable options are available.

This collaboration will help develop robust, reliable, transparent, cost-competitive, and credible procurement options that comply with labour laws in Nigeria to help meet clean energy targets, increase energy security, and enable corporations to reduce their greenhouse gas emissions.

The Clean Energy Demand Initiative (CEDI) serves as a platform for stakeholder engagement and country partnerships and creates a venue for companies and countries to signal investment potential in clean energy, share experiences, and support each other on policy reform that contributes to affordable and resilient energy systems to drive economic growth.

Nigeria and other corporate partners have signalled support for principles to enable corporate renewable procurement, ramping up deployment and accelerating the energy transition in support of global climate goals.

CEDI creates a platform to connect countries with companies seeking to rapidly deploy clean energy to offset electricity demand in their sectors, including health, manufacturing, retail, technology, and transportation.

Through CEDI, companies can send demand signals for clean energy, and countries can share policy updates and plans that enable corporate renewable procurement and lessons with each other.

More than 75 companies have indicated investment interest in 14 countries, which could drive up to $100 billion in renewable energy infrastructure investment. In many cases, this renewable investment complements broader industrial and commercial investment.

By bringing corporations and countries together in pursuit of their climate and energy goals, CEDI advances clean energy and unlocks economic growth worldwide. It also builds on companies’ renewable energy commitments to send investment signals to countries supportive of fostering an enabling environment for corporate renewable procurement.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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