Thursday, November 7, 2024
29.5 C
Lagos

Sterling Launches Imperium Platform for Solar Energy Consumers

Sterling Bank Plc has launched a new and innovative digital product, known as the Imperium Platform, in a bid to connect consumers and providers of renewable energy (solar solutions) as a viable solution to Nigeria’s electricity crisis.

The Imperium Platform was launched following the unveiling of the Nigerian electricity industry report entitled, “Powering Nigeria: How Solar Energy Can Become a Sustainable Electricity Alternative.”

The report was produced by Sterling Bank in partnership with Stears, a digital information company.

Dele Faseemo, Group Head, Renewable Energy at Sterling Bank, said in a statement issued by the bank that the Imperium Platform seeks to provide clean and affordable energy solutions to interested customers while providing different financing options to customers purchasing the solution outright or paying for the installation and operation of the solution.

Faseemo explained that Sterling Bank, in partnership with Stears Data, the data collection, analytics, and data access division of Stears, embarked on the study to tackle the problem of providing solar energy in the country.

The report showed that despite the privatization of Nigeria’s electricity industry, the country still has one of the lowest electrification rates in the world, as 43 percent of its population has no access to grid electricity, an indication that 85 million Nigerians are not connected to – and cannot receive electricity from – the Nigerian transmission grid.

He said the Imperium would provide a range of purchase options to consumers because solar energy solutions are not one-size-fits-all, so purchasing options should not be either.

According to him, Sterling Bank employs several purchase models to provide renewable energy solutions for its customers. This ensures that customers with different needs and purchase abilities can access solar energy solutions.

He listed the options to include outright purchase, lease to own, and power as a service. Using outright purchase as an example, he said that energy consumers could purchase products directly from vendors via the Imperium Platform, a dedicated e-commerce platform hosted by Sterling Bank.

In lease to own, Imperium provides financing at competitive interest rates for consumers with good credit scores or clean credit checks who are keen to own the assets. Under power as a service, Imperium offers fixed monthly energy-charge options to consumers, but the underlying assets are owned by Imperium as it (Imperium) purchases and owns the assets.

This saves clients huge capital outlay and maintenance worries, while the monthly energy charge is based on the capacity deployed.

In this regard, the bank has recently partnered with the Nike Art Gallery to install solar panels at the gallery via the bank’s Imperium outlet as part of its commitment to a renewable energy-powered Nigeria and the development of the nation’s tourism sector.

The development is a sequel to recent partnerships with the gallery to drive an appreciation and spotlight the investment opportunities available in Nigeria’s arts and tourism sectors.

The Nike Art Gallery, owned by Chief Nike Okundaye, is one of the largest of its kind in the West African sub-region, with a collection of about 8,000 diverse artworks from various Nigerian artists.

 

 

 

spot_img
spot_img
spot_img

Hot this week

Continental Re Seeks Entries for 10th Pan African Re/Insurance Journalism Awards 2025

Continental Reinsurance Plc, a leading Pan-African reinsurer, is proud...

Cloud Energy Unveils 200 Watts Street Light Bulbs, Rooftop Panel Campaign

Nigeria’s foremost indigenous Renewable Energy Company, decorated by industry...

Awele Elumelu Seeks Increased Female Leadership in Insurance Sector

L-R: Lady Margaret Moore, President, Africa Insurance Women Association...

NCDMB ES, Lagos Gov Commission Bell Oil and Gas’ Pipe Threading, Valve Assembly Plant

A multi-million-dollar pipe threading and valve assembly facility built...

Polaris Bank Clinches “Best Mobile App” Award at Digital Jurist Awards 2024

Polaris Bank's commitment to digital innovation and excellence has...

Topics

Heritage Bank Empowers 500 Widows, Earns UN Humanitarian Award 

L-R: GoodLuck Linda, WOSSA Chief Welfare officer; Helen Unabor, WOSSA...

Orange Unveils Entrepreneur Club for Start-ups in Africa, Middle East

Orange is launching the Entrepreneur Club, a new space...

Afrinvest, FSDH, Others Place “Buy” on Fidelity Bank Stock

Highly-rated, independent investment advisory firms have picked Fidelity Bank...

ITU Re-elects Houlin Zhao as Secretary-General for 2nd Term

Member States of the International Telecommunication Union (ITU) have...

Embracing Insurance Ecosystems: Key to Thriving in Today’s Evolving Market

  By Emeka Akwiwu Executive Director Continental Reinsurance Plc At the recent 5th...

Fidelity Bank Public Offer, Rights Issue to Open Thursday, June 20

Nigeria’s 6th largest bank, Fidelity Bank Plc will on...

Nigeria’s Power, Finance and Energy Investors to Parley FG in Oct

Leading development finance institutions and heads of Nigeria’s most...

Unity Bank Facilitates Financial Literacy Training During Global Money Week

Group Head Customer Engagement Group, Unity Bank Plc, Mrs....
spot_img

Related Articles

Popular Categories

spot_imgspot_img