The firm, in a statement, which was made available to the Nigerian Stock Exchange on Thursday, said the solar energy plant would become operational this year.
It said the project would be the first of its kind in Nigeria as it would supply one gigawatt annually to the Ibadan Brewery at a significant discount to the current cost of power.
The statement read in part, “The project will also reduce the brewery’s carbon-dioxide emissions by over 10,000 tonnes over the lifespan of the plant. In addition to helping to power our world-class brewery in Ibadan, the solar plant will enable us to deliver on our ‘Brewing a Better World’ initiative.
“This will support our parent company’s (Heineken NV) global ‘Drop the C’ programme for renewable energy, which is aimed at growing production-related energy sourced from renewables from the current level of 14 per cent to 70 per cent by 2030.”