ZOLA Electric has announced a Global Climate Action Summit pledge to launch its PAYGo Solar in Nigeria - to expand clean energy access and displace the negative climate and health effects of fossil fuel powered generators in Africa's most populous country.
Nigeria is a rapidly expanding economic powerhouse, however its electrical grid is unable to meet its citizens’ basic energy demands. Power from the grid is unreliable and expensive and this has driven more than 100 million Nigerians to rely on diesel generators to power their basic energy needs in their homes or apartments. ZOLA’s initial target is to deliver clean energy access to 1 million households and businesses in Nigeria over the next three years.
ZOLA’s expansion will allow Nigerian consumers to access cost effective solar + storage systems as alternatives to diesel generators. ZOLA’s energy access model combines PAYGo micro-finance leasing and mobile money payments to offer solar + storage for a monthly price that is less than the average energy outlay on diesel generators in Nigeria.
In 2019, ZOLA Electric will expand its PAYGo distributed solar energy model and launch an affordable renewable energy alternative available to Nigerians. ZOLA’s target is to deliver clean energy access to 1 million households and businesses in Nigeria over the next three years. This ambitious expansion is focussed on delivering Global Climate Action Summit goals of energy access and driving the transition to clean renewable energy.
“Our objective, and expectation, at ZOLA is to displace fossil fuel generation through cost, convenience and carbon emission superiority”
Bill Lenihan, Co-CEO at ZOLA Electric.
ZOLA’s expansion will allow Nigerian consumers to access solar energy and storage for a monthly price that is less than the average energy outlay on diesel generators. By combining PAYGo micro-finance leasing and mobile money payments, ZOLA’s energy access model is adaptable to energy need and income and promotes financial inclusion.
The first few watts start a chain reaction that enables people to achieve commonly held aspirations: security, education and access to information. Energy access is a key precursor for the economic and educational empowerment of women and girls. Reliable solar energy can help Nigerians to light their homes, power small businesses and stay connected by harnessing the clean, renewable power of the sun.
“A major component of addressing global climate change is the imperative to transition the continent with the fastest growing population - Africa - to clean energy, and we are excited for ZOLA Electric to bring its comprehensive PAYGo solar approach to Nigeria”
Nancy Pfund, Managing Partner and Founder, DBL Partners.