UBA goes Solar: Commissions 25 branches with renewable energy solutions
In a major leap toward strengthening economic collaboration between Nigeria and Norway, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has entered into a strategic partnership with Renewvia Solar Nigeria to roll out renewable energy solutions across 25 of its branches in five Nigerian states. The initiative represents a shared commitment to advancing sustainability and innovation in Africa’s financial and energy sectors.
The project was officially launched at the UBA Oba Akran 2 branch in Ikeja, Lagos, during a ribbon-cutting ceremony attended by the Nordic Ambassador to Nigeria, Mr. Svein Bæra. The event featured a guided tour of the Inverter/Battery Room, led by the Renewvia technical team, showcasing the advanced systems that will drive the new energy model. This partnership signals a deepening relationship between Nordic investors and African enterprises—an alliance grounded in innovation, sustainability, and shared prosperity.
The vision behind this collaboration echoes the remarks of UBA Group Chairman, Tony O. Elumelu, CFR, during the recent Norway–Africa Business Summit in Oslo, where he urged the global community to reimagine Africa as a hub of opportunity rather than a recipient of aid. “Africa needs partners, not charity,” Elumelu emphasized, calling for meaningful partnerships anchored in entrepreneurship, mutual respect, and investment. The UBA–Renewvia initiative brings this philosophy to life by channeling Nordic capital and African ingenuity into a project that promises both environmental and economic dividends.
Supported by Empower New Energy, a prominent Norwegian renewable investment firm, alongside Incremental Energy Solutions (IES), the project’s first phase will generate an estimated 152,000 kWh of clean electricity per month. This output will reduce UBA’s carbon emissions by over 89,000 kilograms of CO₂ monthly. Implemented under a 10-year Power-as-a-Service (PaaS) agreement, Renewvia will deploy hybrid solar and battery systems designed to deliver consistent power, enhance operational efficiency, and elevate the banking experience for customers. Once fully rolled out, the initiative will cover 50 branches in 18 states, contributing 3 MWp of solar capacity and 7 MWh of energy storage.
UBA’s Deputy Managing Director, Muyiwa Akinyemi, highlighted the project’s broader significance, stating, “At UBA, sustainability is at the heart of our mission to build Africa’s future. This initiative demonstrates how innovation and collaboration can deliver tangible progress—not only by improving efficiency and reliability but by promoting a cleaner environment and a more resilient economy.” He expressed gratitude to Renewvia Solar Nigeria, Incremental Energy Solutions, and Empower New Energy for their shared vision and dedication to the cause.
Renewvia Solar Nigeria’s Managing Director, Adebowale Dosunmu, described the partnership as a milestone in the company’s pursuit of sustainable energy delivery. “We are proud to support UBA’s leadership in sustainability and operational excellence,” he said. “This project exemplifies how the private sector can drive Nigeria’s transition to renewable energy through scalable, reliable solutions.”
Echoing similar sentiments, Oladipupo Omodara, CEO of Incremental Energy Solutions (IES) Ltd, commended UBA’s proactive approach. “The success of this initiative highlights the power of effective collaboration between forward-thinking financial institutions and clean energy providers. It reinforces our goal to help Africa secure its rightful place in global energy innovation and investment,” Omodara stated.
For his part, Empower New Energy CEO, Terje Osmundsen, expressed pride in being the financial partner for the landmark project. “Our mission is to enable African businesses to access sustainable power through creative financing. This partnership with Renewvia and UBA demonstrates the growing strength of Nordic–African cooperation in accelerating renewable energy adoption,” he noted.
In his goodwill message, Ambassador Svein Bæra of Norway underscored the broader impact of the partnership. “This initiative stands as a model for what is achievable when African ambition meets Nordic innovation and investment. It is not only an energy milestone but a symbol of our shared commitment to sustainable development and climate responsibility,” he remarked.
Beyond its immediate operational benefits, the UBA–Renewvia partnership underscores UBA’s leadership in sustainability within Africa’s banking sector. It also reflects the pivotal role of Nordic investors, particularly Empower New Energy, in driving Nigeria’s green transition and supporting the nation’s move toward cleaner, more reliable power systems.
Most importantly, this collaboration aligns with Tony Elumelu’s long-term vision for Africa—an empowered continent built through entrepreneurship, strategic global partnerships, and private-sector leadership. It represents a model for how businesses can create shared value: fostering growth, creating jobs, and unlocking economic potential across borders.
About United Bank for Africa (UBA)
United Bank for Africa Plc is one of the continent’s foremost financial institutions, employing over 25,000 people and serving more than 45 million customers globally. With operations in 20 African countries and international offices in the United Kingdom, United States, France, and the United Arab Emirates, UBA continues to drive financial inclusion, innovation, and sustainable banking practices.
About Renewvia Solar Nigeria Limited
Renewvia Solar Nigeria, a subsidiary of Renewvia Energy Corporation (USA), designs, finances, and operates hybrid solar-plus-storage systems across Africa. The company provides reliable, clean energy to commercial, industrial, and community clients, contributing to a sustainable energy future.
About Incremental Energy Solutions (IES)
Incremental Energy Solutions is a Nigerian renewable energy development firm focused on structuring and facilitating bankable clean energy projects. The company collaborates with developers and investors to accelerate Africa’s transition to low-carbon energy systems.
About Empower New Energy
Empower New Energy is a leading Nordic renewable investment company providing innovative long-term financing for clean energy projects across Africa. By bridging Nordic capital with African enterprise, Empower drives sustainable economic growth and strengthens global partnerships for a greener future.
