United Bank for Africa (UBA) Plc has partnered with Renewvia Solar Nigeria to install advanced solar power systems in 25 of its branches spread across five Nigerian states. The new project, launched on Wednesday at the UBA Oba Akran 2 branch in Ikeja, Lagos, shows the bank’s growing commitment to renewable energy and sustainable business practices.
The ceremony, which marked the official launch of the solar energy initiative, was attended by the Norwegian Ambassador to Nigeria, Mr. Svein Bæra. He joined executives of UBA and Renewvia Solar Nigeria in inspecting the newly installed inverter and battery systems at the branch.
According to a statement from UBA, the partnership will help to deepen economic and energy cooperation between Nigeria and Norway while supporting UBA’s long-term sustainability goals. The project also aligns with the global agenda of transitioning to cleaner and more efficient energy sources, especially within Africa’s financial industry.
Supported by Empower New Energy, a renewable investment company based in Norway, and Incremental Energy Solutions Ltd, the project will produce about 152,000 kilowatt-hours of clean electricity every month. This is expected to cut UBA’s carbon emissions by more than 89,000 kilograms of carbon dioxide (CO₂) monthly, making it one of the most impactful sustainability projects by a Nigerian bank in recent years.
Under a 10-year Power-as-a-Service (PaaS) contract, Renewvia Solar Nigeria will install hybrid solar and battery systems to provide stable electricity to the bank’s operations. The first stage of the project includes 25 branches, but the full rollout will cover 50 branches in 18 states. The total energy capacity when completed will reach 3 megawatts-peak (MWp) of solar power and 7 megawatt-hours (MWh) of energy storage.
UBA’s Deputy Managing Director, Mr. Muyiwa Akinyemi, said the solar energy project shows how the bank is combining technology, innovation, and partnerships to promote a cleaner environment and improve operational efficiency.
“At UBA, we believe sustainability is not just a responsibility but a key part of building Africa’s future,” Akinyemi said. “This project shows how innovation and partnership can deliver long-term benefits through economic growth, reduced carbon emissions, and improved efficiency. We are proud to work with Renewvia Solar Nigeria, Incremental Energy Solutions, and Empower New Energy to make this vision a reality.”
Norwegian Ambassador to Nigeria, Mr. Svein Bæra, praised the collaboration between UBA and Renewvia Solar, describing it as a model for Africa–Nordic cooperation in renewable energy. He said the initiative represents a strong example of how African ambition can meet Nordic innovation to drive sustainable growth and climate responsibility.
“It represents not just an energy milestone but a strong statement of shared commitment to sustainable growth and climate responsibility,” Bæra said.
Also speaking at the event, the Managing Director of Renewvia Solar Nigeria, Mr. Adebowale Dosunmu, commended UBA for leading by example in the area of sustainability. He said the partnership marks a major milestone in the company’s mission to deliver reliable and affordable clean energy to commercial and industrial customers across Nigeria.
“We are proud to support UBA’s leadership in sustainability and operational excellence,” Dosunmu noted.
The Chief Executive Officer of Incremental Energy Solutions Ltd, Mr. Oladipupo Omodara, praised UBA’s management for its proactive approach and cooperation in implementing the solar project. He said the success of the initiative shows Africa’s growing potential to attract investments in renewable energy and technology.
“This success reinforces our shared commitment to helping Africa claim its rightful place in global energy investment and technology deployment,” Omodara said.
Similarly, the Chief Executive Officer of Empower New Energy, Mr. Terje Osmundsen, said his firm was proud to be the financing partner for the project. He explained that Empower New Energy aims to help African businesses access sustainable power through innovative funding solutions.
“This partnership reflects our mission to enable African businesses to access sustainable power through innovative financing. It also demonstrates the strength of Nordic-African cooperation in accelerating renewable energy adoption,” Osmundsen said.
The project also reflects the vision shared by UBA Group Chairman, Mr. Tony Elumelu, during the recent Norway–Africa Business Summit in Oslo. At the event, Elumelu called on global investors to look at Africa as a land of opportunity rather than a destination for aid.
The bank said the collaboration with Renewvia Solar Nigeria and its partners strengthens its position as one of Africa’s leading financial institutions promoting sustainability, innovation, and clean energy. The initiative is also part of UBA’s efforts to integrate renewable energy into its daily operations while reducing its carbon footprint and environmental impact.
UBA continues to play a major role in advancing sustainable development goals across Africa, with this solar initiative serving as another example of how financial institutions can drive positive change in energy access, climate action, and economic growth.
