The United Bank for Africa, UBA branches in Nigeria will boost operations soon with solar energy.

INDEPENDENCE reports that its energy transition plan follows the long-term agreement it signed with Renewvia.

According to the agreement, the energy transition will ensure that the clean energy provider will finance, build, own and operate solar photovoltaic systems to power UBA’s branches in Nigeria.Information Guide Nigeria

The statement revealed that the partnership also includes Incremental Energy Solutions (IES), Renewvia’s partner in Nigeria.

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The Chief Executive Officer of IES, Oladipupo Omodara 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”.

The statement said that through the partnership, UBA wants to reduce its carbon footprint, provide clean energy to businesses, and install off-grid solar systems in rural areas.

Renewvia is involved in the implementation of the World Bank-supported Nigeria Electrification Project (NEP). As part of the NEP.NYSC portal

The company has installed hybrid solar mini-grids in Bayelsa State.

Recall that in 2021, the company led by Trey Jarrard secured $10 million in funding from Claritas Capital, a US-based investment firm in order to support its investments.JAMB Result