.The plant is focused on providing locally assembled Battery Energy Storage Systems (BESS)
·BESS for 24/7 access to renewable power supply for commercial and industrial demand
·GIB and RIPLE are joining forces to utilise Gotion’s LFP technology, fast tracking Nigeria’s energy transition towards Net Zero
Göttingen, Germany, June 18, 2024, Voderady, Slovakia, June 19, 2024 – RIPLEnergy Company Limited (“RIPLE”) is pleased to announce the signing of a Memorandum of Understanding (“MOU”) with GIB EnergyX Slovakia s.r.o. (“GIB”) to co-develop a state-of-the-art Assembly Plant in Nigeria to supply Battery Energy Storage Systems (BESS) in support of RIPLE’s Renewable Energy investments to supply commercial and industrial demand for 24/7 electricity. This initiative has the potential to transform Nigeria’s energy landscape and propel the nation’s journey towards economic prosperity, fuelled by responsible renewable energy practices utilising solar generation and Distributed Smart Grid.
By leveraging GIB’s advanced technology and expertise as well as RIPLE’s local knowledge and excellent project execution capabilities, the project is expected to catalyse the development of a localised battery BESS ecosystem, facilitating the widespread deployment of renewable energy technologies and expanding access to energy. Additionally, the plant will look to export to other regional markets, positioning Nigeria as a key player in the renewable energy supply chain and providing a vital source of foreign exchange.
Nigeria’s Energy Transition Plan emphasizes the need for expansion of the nation’s generation capacity and the ramping up of renewables-backed electrification to facilitate decarbonisation across various sectors of the economy. This has resulted in increasing demand for renewable energy solutions and complementary battery storage systems as efficient alternatives to address the country’s energy deficit. Presently, this demand for battery storage systems is largely met through imports from Europe and China.
RIPLE and GIB are both committed to establishing an end-to-end battery value chain in Nigeria, starting with assembly and progressing to full-scale manufacturing and recycling. This holistic closed loop approach ensures sustainability throughout the battery lifecycle – from mining to recycling – thereby minimising environmental impact and promoting resource efficiency.
Yusuf Umar, Managing Director & Chief Executive Officer of RIPLE, said: “At RIPLE, we are excited to partner with GIB on this initiative which is a major leap forward in our commitments to sustainable energy. Our goal is to help build Nigeria’s industrial base commencing with this comprehensive battery manufacturing. We are committed to ensuring that our operations are efficient and sustainable. We believe this partnership will be pivotal in advancing Nigeria’s clean energy infrastructure and fostering long-term environmental stewardship”.
Steven Cai, Chairman, GIB EnergyX and Director, Gotion HighTech Co commented: “Nigeria is an exciting and fast-growing market hungry for electricity. RIPLE’s strategy is key in meeting Nigeria’s increasing energy demand and overcoming the inadequacy of the traditional energy networks and infrastructure through firm renewable energy solutions, complemented by energy storage. GIB will partner with RIPLE in the quest for the localisation of BESS assembly in Nigeria. Gotion is the majority owner of GIB, with a top tier competitive position in BESS and EV battery technology and Giga factory manufacturing and localisation expertise. We are excited to explore this co-development with RIPLE to create the local assembly value-chain delivering a range of BESS with our LFP[1] technology which should significantly benefit Nigeria’s economic growth and energy transition journey towards net zero through access to 24/7 renewable electricity.”
About RIPLE
RIPLE is a US$500 million vertically-integrated renewable energy investment platform launched in November 2023 by the Nigeria Sovereign Investment Authority (NSIA) to drive the development, financing, and operation of projects across the renewables value chain – from upstream renewable technology manufacturing to energy generation, and downstream distribution through sub-franchising in partnership with distribution companies.
About GIB
GIB (Gotion-InoBat-Batteries) is a joint venture between Gotion High Tech and InoBat based in Slovakia. GIB was launched at COP 28 in Dubai on 5 December 2023. GIB’s focus is in the EMEA regions, offering localisation platforms to suitable partners aiming to create eco-hubs and battery value-chains to meet the demand for e-mobility and for green energy from stationary BESS.
About Gotion High-Tech Co.
Established in 2006 with its headquarters in Hefei, Anhui Province, China, Gotion High-tech Co., Ltd. stands as one of China’s pioneering enterprises in the independent development and manufacture of new energy batteries. Gotion’s primary focus is on lithium iron phosphate (LFP) materials and cells, ternary materials and cells, power battery packs, battery management systems, and energy storage battery packs. Its products are extensively used in the EV sector, encompassing passenger, commercial, specialty, and light-duty vehicles. Gotion High-tech has a prominent position in the BESS sector, providing comprehensive solutions to its energy storage customers. Gotion EMEA, a wholly owned subsidiary of Gotion High-Tech, is incorporated in Slovakia.
About InoBat
Established in 2019, InoBat is a European battery company based in Slovakia focused on R&D and manufacturing to deliver high performance, customised Batteries. InoBat’s R&D benefits from its coveted IPCEI award (Important Projects of Common European Interest). Sector focus for InoBat is Aviation, High Performance Vehicles, Off-Highway specialist batteries, and transportation (buses, delivery vans, 2-wheelers). InoBat created its C2C (cradle-to-cradle) circular value-chain based on alliances and in line with the UN’s SDG 2030 and the EU Green Deal. InoBat has projects under development in EMEA countries with its strategic partner Gotion High Tech via its GIB (Gotion-InoBat-Batteries) JV. InoBat’s investors include IPM Group (original sponsors), Gotion High Tech, Rio Tinto, Amara Raja, Lilium, Slovak Investment Holdings, and Across Private Investments.