Sterling Bank
Sterling Bank

Sterling Bank PLC has become the first African corporate organization to power its headquarters with the Building Integrated Photovoltaic (BIPV) energy technology as its primary source of energy.

Dele Faseemo, Group Head, Energy, at Sterling Bank who disclosed this in a statement issued by the Bank recently, said the major milestone is a demonstration of the Bank’s commitment to its vision of concentrating investment under its HEART of Sterling programme on five sectors that can impact the economy remarkably. The sectors are Health, Education, Agriculture, Renewable Energy and Transportation.

According to him, “The building integrated photovoltaic (BIPV) project is being undertaken in Lagos, Nigeria following the official nod received from the Nigerian Electricity Regulatory Commission and the relevant agency of the Lagos State Government; and an Agreement signed between Sterling Bank and PriVida Power Limited, a Nigerian-based international energy company. The specialized BIPV panels will be supplied by Onyx Solar, a solar energy company founded in Ávila, Spain, and a global leader in the manufacturing of transparent photovoltaic (PV) glass for buildings.”

According to Omozaphua Akalumhe, a Director of PriVida Power Limited, “PriVida and its partners are proud to work with Sterling Bank in delivering this signature Solarization Project, deploying Building Integrated Photovoltaic (BIPV) solution. We are confident that Sterling Bank has taken the right step in strengthening its position as the undisputed Leader in promoting Renewable Energy (RE) deployment in Nigeria through this project.”

Faseemo also remarked that 3E, a South Africa-based independent technical advisor for Sterling Bank, has reviewed the design proposed by the EPC Contractor and included the assessment of the site, the verification of the contractor energy audit, the long-term energy yield assessment and the review of the financial model.

“3E’s scope was, in other words, to check that the proposed designs were fit for purpose, and that the key technical and financial risks have been taken into account and sufficiently mitigated; to ensure that the project proposal is in line with the Bank’s expectations and objectives,” Faseemo noted.

Onyx Solar said it has installed PV glasses on many skyscrapers in Singapore, convention centres in Canada and tourist attractions in Dubai in addition to railway stations in the US, hospitals in Norway, banks in Kenya, embassies in Indonesia, shopping malls in Mexico and universities and colleges in Australia.

Faseemo explained that as a result of the integration, Sterling Bank will become a reference for modernity and sustainability in the country, adding that the installation will supply just below 1MW of installed power, which will substantially reduce greenhouse gas emissions and its ecological footprint as well as demonstrate the Bank’s commitment to environment sustainability and the development of renewable energy in the country.