SAF Launches Initiative for Affordable Power


Sterling Alternative Finance (SAF), the non-interest banking division of Sterling Bank Plc has announced the launch of Altpower – a clean and affordable energy solution for homes and businesses across the country.

The energy solution will provide consumers with flexible and pocket-friendly options. It comes with a financing option that eliminates the high entry cost barrier hindering the uptake of alternative energy solutions for most Nigerian homes and businesses.

Head of Digital Business, Sterling Alternative Finance, Mohammed Yinusa, who disclosed this in a statement in Lagos, said Altpower was designed to provide accessible alternative (solar/renewable) power solutions to homes, businesses and public institutions in the country through monthly or instalment-payment plan.

According to him “Altpower offers a more reliable and affordable energy source to underserved homes and businesses as well as those living and doing business in communities that do not have any access to electricity. It is a reliable, accessible and affordable solution that is scalable to meet every customer’s desired energy needs.”

Listing available options, he urged individuals and businesses that need reliable and affordable power solutions to visit to start enjoying uninterrupted power supply through buy outright, lease to own or Power as a service (Paas) subscription.

The buy outright option is for customers possessing the financial ability to make full payment for the equipment of the alternative energy package of choice. However, the lease to own package allows customers that cannot afford to pay at once to spread payment for up to a year without interest.

For both category of customers, Altpower curates all the energy products the customer needs to ensure that he has uninterrupted power supply. These energy products range from inverters to batteries, UPS, surge protectors, solar home systems among others.

Yinusa said a customer who opts for Power as a service (Paas) would have solar powered inverters delivered and installed without making an advance fee or payment, adding that the customer will only be required to pay a monthly rental fee.

He said Paas, “gives this category of customer more than power as he also gets free installation, maintenance, device to visualise and track his power usage without paying a deposit. Customer do not have to worry about owning and maintaining the equipment or fixing any issue that might arise in the course of usage.”