The Indian Industries and Manufacturers Association (AIMA) and Nashik-based Aakanksha Power and Infrastructure Ltd have signed a crucial memorandum of understanding (MoU) with Nigeria's Kaduna Electric, the country's largest power distribution company. The collaboration aims to enhance energy infrastructure and promote industrial cooperation between India and Nigeria.
Highlights of the MoU:
- Five-year maintenance and supply agreement: Aakanksha Power has signed a five-year agreement with Kaduna Electric, worth between $10-15 million. The deal includes maintenance services and supply of electrical equipment.
- Solar power project: Aakanksha Power has been awarded the contract to set up a 5 MW solar power plant in Nigeria, which will contribute to the country's renewable energy initiatives.
- Data centre infrastructure development: Another Nashik-based company Vigyan Labs has signed a MoU to develop data centre infrastructure as part of this collaboration, indicating a focus on technological advancement.
- Industrial Cooperation Agreement: AIMA and Kaduna Electric have agreed to collaborate on industrial initiatives that will facilitate Nashik-based electric equipment manufacturers to understand and meet the demands of Nigeria’s energy sector.
This partnership not only signals the strengthening of India-Nigerian economic ties but also opens up avenues for Indian companies to contribute to the development of Nigeria’s energy sector.
