Sterling Bank Unveils Imperium Platform for Solar Consumers

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Sterling Bank

Sterling Bank Plc has launched an innovative new digital product, known as the Imperium Platform, with the aim of connecting consumers and suppliers of renewable energy (solar solutions) as a viable solution to the climate crisis. electricity in Nigeria.

The Imperium platform was launched following the unveiling of the Nigerian electricity industry report titled “Powering Nigeria: How Solar Energy Can Become a Sustainable Electricity Alternative”.

The report was produced by Sterling Bank in partnership with Stears, a digital news company.

Dele Faseemo, group head, renewable energy at Sterling Bank, said in a statement released by the bank that the Imperium platform seeks to provide clean and affordable energy solutions to interested customers while offering different financing options to customers buying the solution directly or paying for the installation and operation of the solution.

Faseemo explained that Sterling Bank, in partnership with Stears Data, the data collection, analysis and access division of Stears, embarked on the study to solve the problem of solar energy supply in the country.

The report showed that despite the privatization of the electricity industry in Nigeria, the country still has one of the lowest electrification rates in the world, as 43% of its population does not have access to the grid. electricity, an indication that 85 million Nigerians are not connected to – and cannot receive electricity – from the Nigerian transmission grid.

He said the Imperium would offer a range of buying options to consumers, because solar power solutions aren’t one-size-fits-all, so neither should buying options.

According to him, Sterling Bank uses several purchasing models to provide renewable energy solutions to its customers. This ensures that customers with different purchasing needs and abilities can access solar energy solutions.

He listed options to include outright buy, rent to own, and power as a service. Using outright purchasing as an example, he said energy consumers can purchase products directly from suppliers through the Imperium Platform, a dedicated e-commerce platform hosted by Sterling Bank.

On a lease-to-own basis, Imperium offers financing at competitive interest rates to consumers with good credit ratings or clean credit checks who are willing to own the assets. As part of Power as a Service, Imperium offers fixed monthly energy fee options to consumers, but the underlying assets belong to Imperium because it (Imperium) buys and owns
assets.

This saves customers huge capital expenditure and maintenance hassles, while the monthly energy charge is based on deployed capacity.

In this regard, the bank has recently partnered with the Nike Art Gallery to install solar panels in the gallery through the bank’s Imperium outlet as part of its commitment to a Nigeria powered by renewable energy and development. of the country’s tourism sector.

The development follows recent partnerships with the gallery to generate appreciation and highlight the investment opportunities available in the arts and tourism sectors in Nigeria.

The Nike Art Gallery, owned by chef Nike Okundaye, is one of the largest of its kind in the West African sub-region, with a collection of around 8,000 diverse works of art by various Nigerian artists.

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