A company obtains a loan of 1.5 million euros to boost energy production | The Guardian Nigeria News

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To increase Nigeria’s power generation capacity, Westa Solar secured a €1.5 million mezzanine loan from the Austrian Development Bank (OeEB) provided by the Afro-Austrian SME Investment Facility ( AAIF) of the Federal Ministry of Finance to accelerate the development of solar projects to reduce energy costs and emissions for commercial and industrial energy users in Nigeria.

The company also announced the commissioning of a 350 kWp PV-Diesel hybrid solution for a plant in Kano – Sacvin Nigeria Limited – intended to enable the company to save on its energy costs, reduce its carbon footprint generating savings of over N450 million over the next 15 years. years and support its long-term growth ambitions.

Westa Solar Nigeria Country Manager Kolawole Akinboye, a leading provider of solar power solutions to commercial and industrial businesses, said the company is poised to bring sustainable development to the energy challenges of the country.

He said, “As a C&I solar developer, our vision is to make a huge difference in solving the energy needs of manufacturers and heavy industries. Our solar hybrid systems are a great solution for businesses with high energy needs and our systems are fully customized to meet customer demand. »

Akinboye noted that the development is also a first step for Sacvin, as plans are underway to expand solar capacity at its plants to more than 1 MWp before the end of 2022.

Commenting on the development, Sacvin Nigeria Director, Jogesh Kathwani said, “We take great pride in being good stewards of the environment and are delighted to be partnering with Westa Solar to install solar PV solutions for our operations. at significantly lower energy costs. by this technology. This project would help us significantly save on our electricity costs, reduce our carbon emissions and achieve our sustainability goals. »

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