In a groundbreaking move, Sterling Bank Limited’s Imperium Initiative has joined forces with JinkoSolar Holding Co., Ltd. to tackle the import challenges faced by photovoltaic (PV) distributors and solar developers in Nigeria.
The partnership aims to address significant foreign exchange burdens and operational constraints, ultimately driving the adoption of solar energy in the country.
Group Head of Transport & Renewables (Digital Renewables and Mobility) at Sterling Bank,Mr. Olabanjo Alimi, announced this transformative collaboration in a statement issued by the bank.
He said the Imperium Initiative seeks to streamline the process for distributors and developers, eliminating the need for them to source foreign exchange at costly rates to fund their PV panel purchases.
As a result, it will significantly reduce costs and make solar energy more accessible to Nigerian households and businesses.
JinkoSolar Holding Co., Ltd, known for its innovation and competitive pricing in the PV industry, is committed to sustainability and expanding energy access in Africa.
Notably, JinkoSolar was the first business to commercialise N-type TopCon Technology under the name Tiger Neo module as solar technology gradually transitioned from P-type to N-type.
Renewable energy is one of Sterling Bank’s strategic investments under its HEART of Sterling initiative, alongside sectors such as Health, Education, Agriculture, and Transportation.
