• Friday, May 24, 2024
businessday logo


Innovative financing key to solar deployment in Nigeria – Anfani CEO


Ishaq Bolarinwa, the CEO of Anfani, has said that leveraging innovative financing mechanisms is crucial for accelerating solar adoption in Nigeria and across Africa, particularly as the continent strives towards embracing sustainable energy solutions.

He highlighted key challenges hindering the widespread embrace of solar energy, citing the need to address the prevailing lack of understanding regarding solar technology’s capabilities and the skepticism stemming from past experiences with substandard installations.

The CEO conveyed this information during engagements with stakeholders at the recently concluded PowerElec Nigeria conference, hosted in Victoria Island, Lagos.

Read also: FG signs deal to build 1GW solar PV plant factory

“Bridging the gap in knowledge and building trust is pivotal to driving the adoption of solar energy,” Bolarinwa said. “Many consumers remain hesitant due to misconceptions and doubts about the reliability and effectiveness of solar systems.”

Bolarinwa also shed light on Anfani’s innovative approach to financing solar projects, aimed at addressing consumer preferences while ensuring the viability of each initiative.

“At Anfani, we understand the importance of aligning financing options with consumer needs,” he stated. “We offer flexible interest rates and loan tenures tailored to suit individual preferences, thereby making solar energy more accessible to a broader audience.”

Read also: Development bank recognises FCMB for supporting SMEs and green projects

Highlighting Anfani’s expertise in structuring deals, Bolarinwa emphasized the company’s commitment to transparency and clarity in its dealings with clients.

“Each solar project comes with its unique set of challenges and requirements,” he said. “We work closely with our clients to develop customized financing solutions that address their specific needs and circumstances.”

He further stressed the significance of establishing a common understanding with stakeholders and meticulously clarifying terms and conditions to ensure alignment and trust.

Read also: Renewable energy firm brings solar power to 1,200 Osun households

“Clear communication and transparency are fundamental to building lasting relationships with our clients,” Bolarinwa said.

PowerElec Nigeria 2024 concluded on a note of optimism, with participating entities poised to drive the narrative of electricity generation for Africa forward. With upcoming PowerElec conferences in Bahrain and Kenya later this year, stakeholders are set to continue their mission of illuminating the continent one solar solution at a time, solidifying the energy future for Nigeria and Africa.