UBA Will Use Solar Energy to Increase Branch Operations
The United Bank for Africa (UBA branches in Nigeria will soon be run on solar energy.
Its energy transition plan follows the long-term agreement it signed with Renewvia, which will ensure that the clean energy provider will finance, build, own, and operate solar photovoltaic systems to power UBA’s branches in Nigeria.
The partnership also includes Incremental Energy Solutions (IES), Renewvia’s partner in Nigeria, a statement said.
Oladipupo Omodara, the Chief Executive Officer of IES, said, “This is a landmark transaction, not only for Renewvia, IES, and UBA, but also for the African clean energy sector in general, which has been suffering from a lack of foreign capital investment.”
Through this partnership, UBA wants to reduce its carbon footprint, the statement said, adding that in addition to providing clean energy to businesses, Renewvia finances and installs off-grid solar systems in rural areas.
