Femi Gbajabiamila, Chief of Staff to Nigeria’s President Bola Tinubu alongside Damilola Ogunbiyi Special Representative of the UN Secretary-General for Sustainable Energy for All on Friday visited Iponri Market in Surulere, Lagos State and inspected the first phase of solar installations deployed within the popular market.
The solar projects, funded by Universal Energy Facility (UEF) a results-based finance facility administered by Sustainable Energy for All (SEforALL) and executed by SOLAD Integrated Power, a clean energy and technology company, is an exciting development that underscores the commitment of both the Nigerian government and the Universal Energy Facility (UEF) to promoting sustainable energy solutions in the country.
Among the dignitaries include Abubakar Suleiman, Managing Director, Sterling Bank,
Caroline Eboumbou, CEO, All On, markets leaders amongst others. This visit to Iponri Market afforded the dignitaries the opportunity to interact with the end-users and provided valuable insights into the impact of clean and reliable energy on their respective business operations.
Speaking during their visit to the market, Gbajabiamila and Ogunbiyi lauded the initiative at making clean and sustainable energy accessible for all.
“The electrification of the Iponri Market with sustainable energy solutions exemplifies Nigeria’s unwavering commitment to enhancing energy access, driving economic growth, and embracing the transformative potential of solar energy. This visit to witness the impact of clean, affordable energy reaffirms our dedication to businesses, emission reduction, and advancing our nation toward a more sustainable and prosperous future,” Gbajabiamila said.
“Sustainable energy access is the cornerstone of a brighter and more equitable future for all. Our visit to the Iponri Market today underscores our commitment to empowering communities with clean, affordable, and sustainable energy solutions, setting the stage for Nigeria’s energy transition to a greener future,” UN SRSG Ogunbiyi said.
In August 2023, SOLAD Integrated Power began the provision of clean, sustainable and renewable energy solutions to empower business owners within Iponri market. Through the utilization of solar power, the market’s micro, small, and medium-scale enterprise (MSME) owners are gaining access to stable, affordable, and clean energy, which is set to revolutionize the way they operate.
As of November 2023, SOLAD Integrated Power has successfully connected in the first phase, 200 commercial customers in the Iponri Market to high-capacity stand-alone solar power and battery storage systems for productive use.
SOLAD Integrated Power with support from the UEF has also undertaken a similar project at Ayangburen Market, Ikorodu where small businesses are already enjoying clean electricity supply.
The Universal Energy Facility (UEF) is a multi-donor results-based finance facility established to significantly speed up and scale up energy access across Sub-Saharan Africa, in line with SDG7 and the Paris Agreement. It provides catalytic, results-based grant payments to qualified renewable energy companies that provide verified end-user electricity connections. The facility supports sustainable business models such as the energy-as-a-service and lease-to-own models – that alleviate the upfront cost barrier to adopting clean energy, enable the displacement of fuel generators and help developers to catalyze private commercial capital to scale their business operations.
UEF is managed by Sustainable Energy for All (SEforALL) and supported by the Global Energy Alliance for People and Planet, Shell Foundation, The Rockefeller Foundation, Africa Minigrid Developers Association, Power Africa, Good Energies, UKaid, Carbon Trust, IKEA Foundation, Federal Ministry for Economic Cooperation and Development, Germany (BMZ) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).