Oando, one of Nigeria’s indigenous energy solutions provider, was named ESG Company of the Year at the ongoing African Energy Week in Cape Town, South Africa.
The award, the organisers clarified, was in recognition of the company’s strides in investing in climate-friendly and bankable energy solutions across the African continent.
The investments, they noted, has helped in meeting the continent’s demand through the exploitation of green and renewable sources towards achieving a carbon-neutral Africa.
Recently, on May 23, 2023, Oando Clean Energy Limited (OCEL), which is the renewable energy subsidiary of Oando, in partnership with the Lagos Metropolitan Area Transport Authority (LAMATA) marked the formal commencement of operations of its electric mass transit buses at the Lagos Bus Services Limited (LBSL) Head Office, in Lagos.
Since then, OCEL said it has covered over 45,000 kilometres, carry over 75,000 passengers through the electric mass transit buses, which prevented over 23,000 litres of diesel from being used and mitigated approximately 54.6 tons of carbon emissions.
In his reaction to the award, the President/ CEO, OCEL, Ainojie Irune, expressed deep gratitude for the honour to receive the ESG Company of the Year award.
“It is an award that speaks to our highest aspirations. Nigeria and, indeed, Africa are at the heart of what we do. From inception, reframing the African narrative has always fuelled our ambitions at Oando. Oando Clean Energy’s (OCEL) DNA is no different.
This award goes to the army of experienced and passionate individuals driven by a desire to turn challenges into opportunities if the end journey is one of positive impact. The future is now; the future is here. To fellow nominees in this category, Baker Hughes and General Electric, I congratulate these illustrious companies for their strides in ESG,” he said.
In June 2023, Irune had disclosed that OCEL was making significant inroads in the power sector, adding that the “Demographic trends and development plans show the country’s growing energy demand is inescapable.”
He said the company was clear in its mind that a sustainable solution to ensuring all Nigerians had access to power would include deploying innovative and captive power solutions to address the unique needs of each community.
To this end, he said OCEL have partnered with the Rural Electrification Agency (REA) of Nigeria to deploy solar mini-grids towards achieving energy security, power accessibility and affordability across rural communities.
Last week, FuelCell Energy, Inc. and OCEL announced the signing of a memorandum of understanding (MOU) to collaborate on developing a 5 to 15-megawatt (MW) power plant.
Also, to FuelCell Energy’s fuel cell and electrolyser technology, the agreement also included the potential for the use of FuelCell Energy’s carbon capture and sequestration technologies.
Unlike other carbon capture technologies that require power to capture carbon dioxide, FuelCell Energy’s platforms could produce power, while simultaneously capturing carbon dioxide.
The signing of the MOU was an integral part of OCEL’s drive to strengthen electricity access in African markets through low-carbon renewable energy sources starting in its home country, Nigeria.
OCEL’s core areas of interest include Sustainable Transport, Solar Energy Solutions, Gas and biofuels, Waste to Energy, Wind Farms, Geothermal Power Plants, Hydro Energy and other emerging technologies.