Sterling Bank has enhanced its recognition as Nigeria’s leading innovative bank with its installation of building integrated photovoltaic (BIPV) energy technology as a primary source of energy in its headquarters, becoming the first African corporate organisation to record such development.
Dele Faseemo, group head, energy, at Sterling Bank, who made the disclosure in a statement issued by the bank said the major milestone is a demonstration of the bank’s commitment to its vision of concentrating investment under its HEART of Sterling programme on five sectors namely, health, education, agriculture, renewable energy and transportation, that can impact the economy remarkably.
Faseemo noted that the BIPV project is being undertaken in Lagos, Nigeria following the official approval received from the Nigerian Electricity Regulatory Commission and the relevant agency of the Lagos State government; and an agreement signed between Sterling Bank and PriVida Power Limited, a Nigerian-based international energy company.
The specialized BIPV panels, he said, will be supplied by Onyx Solar, a solar energy company founded in Ávila, Spain, and a global leader in the manufacturing of transparent photovoltaic (PV) glass for buildings.
Faseemo also disclosed that 3E, a South Africa-based independent technical advisor for Sterling Bank, has reviewed the design proposed by the EPC contractor and included the assessment of the site, the verification of the contractor energy audit, the long-term energy yield assessment and the review of the financial model.
“3E’s scope was, in other words, to check that the proposed designs were fit for purpose, and that the key technical and financial risks have been taken into account and sufficiently mitigated; to ensure that the project proposal is in line with the bank’s expectations and objectives,” he noted.
Faseemo further explained that as a result of the integration, the bank will become a reference for modernity and sustainability in the country, adding that the installation will supply just below 1MW of installed power, which will substantially reduce greenhouse gas emissions and its ecological footprint, as well as demonstrate the bank’s commitment to environment sustainability and the development of renewable energy in the country.
Omozaphua Akalumhe, a director of PriVida Power Limited, said PriVida and its partners are proud to work with Sterling Bank in delivering the signature solarization project, deploying BIPV solution.
“We are confident that Sterling Bank has taken the right step in strengthening its position as the undisputed leader in promoting renewable energy (RE) deployment in Nigeria through this project,”he said.
