Baobab+ Nigeria, Imperium partner to enhance access to clean energy

Baobab+ Nigeria, a solar energy solutions firm, and Imperium, a digital lending platform, have announced their partnership to enhance access to sustainable energy in Nigeria.

This collaboration aims to introduce hybrid solar power stations and financing solutions to improve community energy accessibility. It also aligns with Nigeria’s goal of achieving universal energy access by 2030.

Nigeria, despite being one of Africa’s largest economies and a major global oil producer, faces severe energy deficits.

According to the World Economic Forum (WEF), over 140 million Nigerians lack access to electricity, adversely affecting health, education, and economic prospects. Also, as of 2022, renewable energy accounted for only 16.4 per cent of the nation’s power generation, with most of the population relying on costly generators.

The partnership aims to bridge this gap by making clean energy solutions more financially attainable. Leveraging Imperium’s renewable energy initiative, the partnership will offer loan schemes to ease businesses and individuals’ transition to solar energy.

“Our collaboration not only expands access to clean energy but also empowers individuals and businesses to grow sustainably,” Kola Osinowo, CEO of Baobab+ Nigeria, said.

“This strategic alliance reflects our shared commitment to environmental stewardship and financial inclusion, marking a significant step towards achieving sustainable energy solutions for all Nigerians,” Osinowo added.

Ayo Falola, head of Renewable Energy (Digital) at Imperium, speaking at the signing, emphasised the partnership’s potential impact: “This partnership will provide homes and businesses with affordable, steady power, accelerating the adoption of renewable energy, especially in underserved communities,” he said.

“Partnering with Baobab+ Nigeria allows us to take a significant leap towards providing Nigerians with the tools they need to transition to sustainable energy.

“The tailored financing solutions this partnership provides will make it easier for individuals and businesses alike to embrace solar power, reducing their carbon footprint and contributing to overall energy security in Nigeria,” he further said.