Konexa C&I Project (MIGA-14736)

  • Africa
Geographic location where the impacts of the investment may be experienced.
  • Nigeria
Geographic location where the impacts of the investment may be experienced.
Specific Location
Kaduna City, Kaduna State
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 30, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Konexa Power Holdings PCC, Nigerian Breweries
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Energy
  • Hydropower
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 16.29 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Mar 11, 2024

Disclosed by Bank Mar 4, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the MIGA, on February 23, 2024 MIGA entered into a contract issuing a guarantee of US$ 16.29 million to Konexa Power Holdings PCC of Mauritius for its equity and quasi-equity investments in Konexa Solar 1 Ltd, a C&I electrification project, in the Federal Republic of Nigeria. The guarantee is issued against the risks of expropriation and war and civil disturbance (including temporary business interruption) for a guarantee period of up to 20 years.

Located in Kaduna City, Kaduna State in Nigeria, the Project consists of the ownership, construction, operation and maintenance of distributed energy systems to be installed at two Nigerian Breweries sites, including transformers, switchgear, metering, double inverter and battery energy storage system (BESS), ring main units, and associated equipment and buildings (the C&I Assets) and the refurbishment, upgrade, extension, operation and maintenance of existing 33kV lines, switching stations, and other related interconnection infrastructure (the Interconnection Infrastructure). Under a Trading License the Project will purchase electricity from the Gurara Hydroelectric Power Plant and wheel electricity through the grid to Nigerian Breweries.

The Project is expected to deliver an average of 20.5 GWh annually from new renewable energy resources (the 30 MW Gurara hydroelectric power plant) to Nigerian Breweries displacing the existing fossil fuel based energy systems. Nigerian Breweries is a subsidiary of Heineken and has been a market leader in Nigeria in pursuing renewable energy solutions. The Project will help accelerate the company's transition to renewable energy while increasing electricity reliability.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated on the companies' websites:

Nigerian Breweries Plc, the pioneer and largest brewing Company in Nigeria was incorporated in 1946 as "Nigerian Brewery Limited". Following the coming into effect of the Companies and Allied Matters Act in 1990,the name of the company was changed to "Nigerian Breweries Plc" to reflect its public limited liability status.
The company is one of the largest in Nigeria by market capitalization.

Konexa aspires to own and operate grid and off-grid power assets across Africa.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Heineken International BV Parent Company Industry and Trade owns Nigerian Breweries PLC Buyer Industry and Trade
Nigerian Breweries PLC Buyer Industry and Trade contracts with Konexa Power Holdings PCC Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No project contacts provided at the time of disclosure.

Client - Konexa Power Holdings PCC:

Address: No 9 Durban St Wuse, Abuja, Nigeria
Email: info@konexa.io
Website: https://www.konexa.io/

Buyer - Nigerian Breweries PLC:

Address: Iganmu House, Abebe Village Road, Iganmu, Lagos State Nigeria
Email: Consumercare@nbplc.com / nbcustomerservice@Heineken.com
Website: https://www.nbplc.com/


You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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