By Joy Baba-Yesufu
United Bank for Africa (UBA) Plc has entered into a strategic partnership with Renewvia Solar Nigeria to provide renewable energy solutions across 25 of its branches in five Nigerian states, as part of efforts to cut carbon emissions and enhance operational efficiency.
The initiative, supported by Empower New Energ, a Norway-based renewable investment company and Incremental Energy Solutions (IES), marks a new milestone in UBA’s sustainability agenda and Nigeria–Norway economic cooperation.
The agreement was formalised at a ribbon-cutting ceremony held at UBA’s Oba Akran 2 branch in Ikeja, Lagos, officiated by the Norwegian ambassador to Nigeria, Svein Bæra. The event included a tour of the solar inverter and battery operations room, symbolising the bank’s transition toward cleaner energy sources.
Under the 10-year Power-as-a-Service agreement, Renewvia will deploy advanced solar and battery hybrid systems capable of delivering 152,000 kilowatt-hours (kWh) of clean energy monthly in the first phase. Once fully implemented, the project will power 50 UBA locations in 18 states, generating 3 megawatts peak (MWp) of solar capacity and 7 megawatt-hours (MWh) of energy storage. The initiative is expected to cut the bank’s carbon footprint by more than 89,000 kilograms of CO₂ each month.
UBA’s Deputy Managing Director, Muyiwa Akinyemi, said the partnership aligns with the bank’s long-term sustainability vision.
“This project demonstrates how innovation and partnership can drive growth, reduce our carbon footprint, and contribute to a cleaner environment,” he said.
Renewvia Solar Nigeria’s Managing Director, Adebowale Dosunmu, described the deal as a “major milestone” in providing reliable, clean energy to commercial institutions.
“UBA’s leadership in sustainability sets a strong example for other corporates in Africa,” Dosunmu added.
For Incremental Energy Solutions, CEO Oladipupo Omodara said the project highlights the increasing participation of African companies in global clean energy investments.
“We are proud to support an initiative that helps Africa claim its rightful place in renewable energy technology,” he said.
Empower New Energy’s CEO, Terje Osmundsen, said the partnership reflects deepening Nordic–African collaboration in sustainable energy.
“We appreciate the proactive support of UBA’s management. This project reinforces our shared commitment to accelerating Africa’s clean energy transition,” he noted.
Norway’s Ambassador to Nigeria, Svein Bæra, commended the collaboration as “a shining example of how African ambition and Nordic investment can combine to deliver sustainable progress.”
The project also echoes UBA Group Chairman Tony Elumelu’s call for partnerships that treat Africa as a hub of innovation and enterprise rather than aid dependency. Speaking recently at the Norway–Africa Business Summit in Oslo, Elumelu urged investors to engage Africa “through collaboration grounded in mutual respect and shared prosperity.”
