The Nigeria Rural Electrification Agency and CarbonAi Signs MOU to Develop Rural Solar Energy Projects

Under the MOU, the parties will explore opportunities to finance and develop solar energy projects in unserved or underserved communities near CarbonAi’s flare gas capture projects in Nigeria.

The REA will apply its knowledge of Nigeria’s rural electrification requirements and programs to identify appropriate project opportunities and liaise with local communities.

CarbonAi, in turn, will apply its carbon finance and project development expertise to finance, design and construct the projects. The company will also quantify, verify and monetize greenhouse gas (GHG) emissions reductions using its proprietary data management platform.

The REA is an implementation agency of the Federal Government of Nigeria under the Ministry of Power. It is primarily tasked with promoting and increasing access to electricity in unserved and underserved rural communities across Nigeria.

"We are excited to work with the REA as our CarbonAi Climate Dividend Programme partner in Nigeria,” stated CarbonAi’s Chief Carbon Officer, Yvan Champagne. ”We are strong believers in win-win outcomes, and we believe our Climate Dividend Programme captures the spirit of the energy transition by leveraging immediate reductions in today’s energy system to build the energy system of tomorrow in Nigeria.”