In a groundbreaking development, the Chief of Staff to the President of Nigeria, Femi Gbajabiamila, and the UN Special Representative for Sustainable Energy for All, Damilola Ogunbiyi, visited Iponri Market in Surulere, Lagos State. The dignitaries inspected the first phase of solar installations implemented within the market, highlighting the commitment of the Nigerian government and the Universal Energy Facility (UEF) to advancing sustainable energy solutions in the country.
UEF-Funded Solar Projects Pave the Way for Sustainable Energy Solutions
Accompanying Femi Gbajabiamila and Ogunbiyi were influential figures including the Managing Director of Sterling Bank, Abubakar Suleiman, and the CEO of All On, Caroline Eboumbou, among other market leaders. The visit provided a unique opportunity for dignitaries to engage with end-users, gaining valuable insights into the transformative impact of clean and reliable energy on various businesses operating within the market.
The solar projects at Iponri Market received funding from the Universal Energy Facility (UEF), a results-based finance facility administered by Sustainable Energy for All (SEforALL). Executed by SOLAD Integrated Power, a leading clean energy and technology company, these installations mark a significant stride toward achieving clean energy accessibility in Nigeria. The collaboration between the government and UEF underscores their joint dedication to promoting sustainable energy solutions in the nation.
Femi Gbajabiamila and Ogunbiyi Commend Initiative for Clean and Sustainable Energy
During their visit to Iponri Market, Femi Gbajabiamila and Ogunbiyi commended the initiative for bringing clean and sustainable energy within reach for all. Gbajabiamila emphasized, “The electrification of the Iponri Market with sustainable energy solutions exemplifies Nigeria’s unwavering commitment to enhancing energy access, driving economic growth, and embracing the transformative potential of solar energy.”
Ogunbiyi echoed this sentiment, stating, “Sustainable energy access is the cornerstone of a brighter and more equitable future for all. Our visit to the Iponri Market today underscores our commitment to empowering communities with clean, affordable, and sustainable energy solutions, setting the stage for Nigeria’s energy transition to a greener future.”
This visit stands as a testament to Nigeria’s dedication to businesses, emission reduction, and the nation’s journey towards a more sustainable and prosperous future. The collaborative efforts of government, industry leaders, and international organizations signal a promising shift towards cleaner energy solutions, aligning with global sustainability goals.
Business Models Empower Clean Energy: UEF Revolutionizes Energy Access Across Sub-Saharan Africa
The Universal Energy Facility (UEF) takes center stage as a multi-donor results-based finance facility, aiming to revolutionize and accelerate energy access across Sub-Saharan Africa. Aligned with Sustainable Development Goal 7 (SDG7) and the Paris Agreement, UEF is designed to provide catalytic, results-based grant payments to qualified renewable energy companies. These companies, in turn, deliver verified end-user electricity connections, addressing the crucial issue of energy access in the region.
UEF stands out for supporting sustainable business models that overcome traditional barriers to adopting clean energy. By promoting innovative models such as energy-as-a-service and lease-to-own, the facility addresses the upfront cost challenge associated with transitioning to clean energy. This strategic approach not only facilitates the displacement of fuel generators but also empowers developers to attract private commercial capital, scaling their operations for greater impact.
Global Support for UEF’s Mission
The success of UEF is underpinned by a global coalition of supporters and partners. Managed by Sustainable Energy for All (SEforALL) and backed by the Global Energy Alliance for People and Planet, UEF enjoys support from prestigious organizations such as the Shell Foundation, The Rockefeller Foundation, Africa Minigrid Developers Association, Power Africa, Good Energies, UKaid, Carbon Trust, IKEA Foundation, Federal Ministry for Economic Cooperation and Development, Germany (BMZ), and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). This collaborative effort emphasizes the significance of global partnerships in achieving sustainable energy goals.
Gbajabiamila and UN Representative Champion UEF’s Impact at Iponri Market
The recent visit of Femi Gbajabiamila, Chief of Staff to the President of Nigeria, and Damilola Ogunbiyi, UN Special Representative for Sustainable Energy for All, to Iponri Market in Surulere, Lagos, stands as a testament to the tangible impact of UEF’s initiatives. The dignitaries witnessed the first phase of solar installations, a project funded by UEF and executed by SOLAD Integrated Power, a leading clean energy and technology company. Their commendation of the project reinforces the commitment of both the Nigerian government and the UEF to advancing sustainable energy solutions, fostering economic growth, and driving Nigeria towards a greener and more prosperous future.
This comprehensive coverage underscores the pivotal role of UEF in transforming energy landscapes, promoting clean energy adoption, and garnering international support to uplift communities across Sub-Saharan Africa.
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