Jabi Lake Mall has announced an agreement with CrossBoundary Energy (CBE) to be powered by solar.
A statement revealed that Actis had previously collaborated with CBE to implement the largest solar carport in Africa at Garden City Mall in Nairobi.
CBE would finance the 600kW rooftop solar plant and would sell power to Jabi Lake Mall through an innovative 15-year Power Purchase Agreement.
“The power offers a cheaper energy alternative and will reduce the shopping centre’s CO2 emissions by over 13,000 tonnes,” the statement added.
It quoted the Director of Real Estate and Head of Actis’ Nigeria office, Funke Okubadejo, to have said: “We were looking for a solar solution that could produce clean power for the mall and be a sustainable, self-sustaining alternative to grid and diesel.
“We are thrilled to partner with CBE to achieve this as we continue to encourage the integration of solar infrastructure across Nigeria.
“We hope that future generation of Nigerians can enjoy the serenity of one of Abuja’s remaining blue spaces and an important water harvest area.”
On his part, the Head of Business Development for CBE, Femi Fadugba said: “We’ve reached a point in Nigeria where solar is transforming how businesses and everyday people are powering their lives.
“We’re incredibly proud to be supporting Actis in achieving its savings and sustainability goals with this landmark project.”
Also, James Mittell, Principal in Actis’ Energy Investment Team, added: “Recognising our responsibility to wider society is central to our business and embedded into our investment processes.
“Cheaper and cleaner power through solar provides an unmissable commercial and environmental opportunity and is fundamentally aligned to Actis’ belief that values drive value.”