Sterling Bank Limited’s Imperium Initiative has partnered with JinkoSolar Holding Co., Ltd. to tackle the import challenges faced by photovoltaic (PV) distributors and solar developers in Nigeria.
The partnership aims to address significant foreign exchange burdens and operational constraints, ultimately driving the adoption of solar energy in the country. The collaboration also holds great promise for the Nigerian solar industry, marking a significant step towards sustainable and cost-effective energy solutions for the nation.
This partnership was made known by Mr. Olabanjo Alimi, Group Head of Transport and Renewables (Digital Renewables and Mobility) at Sterling Bank, through a statement issued by the bank.
According to him, the Imperium Initiative seeks to streamline the process for distributors and developers, eliminating the need for them to source foreign exchange at costly rates to fund their PV panel purchases. It will significantly reduce costs and make solar energy more accessible to Nigerian households and businesses.
The Imperium Initiative represents Sterling Bank’s commitment to providing alternative power solutions to households, eliminating the need for individuals to make substantial capital investments to power their homes.
Sterling Bank has also demonstrated its commitment to environmental sustainability by powering approximately 60 branches nationwide with solar energy, contributing to over 40 percent of its total branches.
Furthermore, compared to the previous year, the bank achieved a remarkable 35.4 percent increase in the deployment of solar-powered ATMs across Nigeria in 2022.
Jinko Solar, a globally recognised solar technology leader, is dedicated to reshaping the energy landscape and promoting a sustainable future. With a focus on integrated research, development, and manufacturing of photovoltaic products, the company offers comprehensive clean energy solutions and maintains its position as the global leader in module shipments, serving customers in more than 180 countries and regions worldwide.
