SOLAD Integrated Power, a clean energy and technology company, has successfully connected 200 commercial customers in the Iponri Market to high-capacity stand-alone solar power and battery storage systems for productive use. This project was funded by the Universal Energy Facility (UEF), a results-based finance facility administered by Sustainable Energy for All (SEforALL). The project is part of the UEF’s Stand-alone Solar for Productive Use program in Nigeria, which provides results-based grants to solar companies for verified end-user connections based on predetermined standards.
The first phase of solar installations was deployed within the popular market, and the Chief of Staff to the President, Femi Gbajabiamila, alongside the Special Representative of the UN Secretary-General for Sustainable Energy for All, Damilola Ogunbiyi, visited Iponri Market in Surulere, Lagos State to inspect the installation. Managing Director, Sterling Bank, Abubakar Suleiman; CEO, All On, Caroline Eboumbou, market leaders amongst others, were among the dignitaries who inspected the project.
The visit to Iponri Market allowed the dignitaries 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 applauded the initiative to make clean and sustainable energy accessible for all.
SOLAD Integrated Power has also undertaken a similar project at Ayangburen Market, Ikorodu, where small businesses are already enjoying a clean electricity supply. This was made possible with support from the UEF.
The 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.
