Jabi Lake Mall – Abuja’s one-stop leisure, restaurant and retail destination, brought to the market by Actis, a leading emerging market investor – has announced an agreement with CrossBoundary Energy (CBE) to become the first solar-powered mall in Nigeria. Actis previously collaborated with CBE on the largest solar carport in Africa, at Garden City Mall in Nairobi.
CBE will finance a 600 kW rooftop solar plant and will sell power to Jabi Lake Mall through an innovative 15-year power purchase agreement. The power offers a cheaper energy alternative and will reduce the shopping center’s CO2 emissions by more than 13,000 tons.
Funke Okubadejo, director of real estate and head of Actis’ Nigeria office, said: “We were looking for a solar solution that could produce clean power for the mall and be a sustainable, self-sustaining alternative to grid and diesel. We are thrilled to partner with CBE to achieve this as we continue to encourage the integration of solar infrastructure across Nigeria. We hope that future generations of Nigerians can enjoy the serenity of one of Abuja’s remaining blue spaces and an important water harvest area.”
Femi Fadugba, head of business development for CBE, said: “We’ve reached a point in Nigeria where solar is transforming how businesses and everyday people are powering their lives. We’re incredibly proud to be supporting Actis in achieving its savings and sustainability goals with this landmark project.”
James Mittell, principal in Actis’ energy investment team, added: “Recognizing our responsibility to wider society is central to our business and embedded into our investment processes. Cheaper and cleaner power through solar provides an unmissable commercial and environmental opportunity and is fundamentally aligned to Actis’ belief that values drive value.”
Soventix will manage all engineering, procurement and construction activities for the project, which is expected to create up to 30 jobs. Support for the project has come from the Shell Foundation and the Solar Nigeria program, an initiative implemented by Adam Smith International, with funding from U.K. Aid.