Date: December 7, 2022
Renewvia Signs Long-Term Power Agreement to Supply United Bank for Africa (UBA) With Clean Energy
Renewvia, and its local partner Incremental Energy Solutions Ltd (IES), announced today that it has signed a long-term power supply contract with UBA to supply their branches with clean energy generated from Renewvia’s cutting edge microgrids.
Renewvia will design, finance, own and operate solar microgrid systems to deliver clean, resilient, and affordable power supply to UBA’s branches substantially reducing the bank’s carbon footprint and advancing environmental goals while generating significant financial savings.
UBA is a multinational Pan-African financial services group headquartered in Lagos and known as Africa’s Global Bank. It operates over 1,000 business offices and customer touch points and has subsidiaries in 20 African countries and offices in London, Paris and New York and more than $20B of assets.
IES and Renewvia analyze each site and project independently and provide an energy transition road map that is customized to the clients financial, environmental and impact goals. Renewvia then design, build, finances, owns and operates the clean energy infrastructure and provides unique reporting and monitoring tools to its clients to track the performance and impact of the project.
“This a landmark transaction not just for Renewvia, IES, and UBA, but for the African clean energy industry in general that suffers from lack of foreign capital investments” said Oladipupo Omodara, CEO of IES.
“This is definitely one of most exciting energy transition mandates Renewvia is undertaking in the USA and Africa to help businesses and communities transition to affordable, cleaner and resilient energy sources, we remain committed to supporting all our clients and communities for a better future” said Trey Jarrard, CEO of Renewvia said.
Renewvia is a Georgia, USA, based a global developer, owner and operator of clean energy infrastructure. Renewvia transitions businesses & communities into clean, resilient and affordable energy sources and currently has more than 100MW of solar and storage projects in its pipeline.
Incremental Energy Solutions Ltd (IES) is Lagos, Nigeria based professional energy services and projects consulting firm tailored to help Africa discover the right position for her energy sector and occupy their space in global renewable energy investment.