June 25th , 2021
Lagos, Nigeria and Vienna, Austria
Oolu and RP Global partner to launch Westa.Solar, a new commercial & industrial (C&I) solar venture in West Africa.
Westa.Solar has delivered its first 500kWp solar PPA project to a company that specializes in manufacturing packaging products in Nigeria.
Oolu, leader in energy access solutions in West Africa, and RP Global, a leading renewable energy developer and investor, announce the launch of Westa.Solar, a Commercial & Industrial (C&I) Solar Venture in West Africa, and the deployment of its first solar PPA project in Nigeria.
The 500kWp solar installation will supply the target company with almost a quarter of its energy needs as well as improve its resilience against frequent power outages. It will also enable the target company to minimize its reliance on diesel generators, thereby reducing both its overall energy costs and carbon footprint. The project was jointly financed by Westa.Solar and a grant from the UK Foreign & Commonwealth Development Office.
Over the next few years, Westa.Solar intends to develop and implement multiple C&I solar projects in West Africa, supporting business development and increasing penetration of renewable energies across the country.
Like many businesses in Nigeria, growth opportunities are constrained by expensive electricity tariffs and an unstable grid, with the frequent stop-start of power outages limiting production and increasing operating and maintenance costs. Westa.Solar’s customized solutions provide its target company with the security of a low cost, robust and reliable energy source fully adapted to meet its needs.
Kolawole Akinboye, Westa.Solar Nigeria Country Manager explained: “This is the first of what we hope to be many solar power projects for C&I companies in Nigeria. This Solar PV installation is projected to help the target company generate savings of over N235 million over the next 10 years and support its long-term growth ambitions. Our solar hybrid systems are a great solution for businesses with high energy needs. Ranging from 50kW to 5MW, our systems are fully customized to meet client demand. By providing a reliable supply at a competitive price we offer greater financial predictability and contribute to decarbonizing the Nigerian energy mix.”
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About Oolu
Oolu was founded by Nilmi Senaratna and Dan Rosa in 2015, and incubated in YCombinator. Oolu is a for-profit, social enterprise focused on increasing access to renewable energy for customers with unreliable grid access or completely off-grid. The company’s mission is to provide off-grid rural households in West Africa with high quality products at an affordable price. Operating in West Africa, Oolu is a leader in distributing, installing and financing solar energy solutions having developed a proprietary management platform and a capillary distribution network. Today, Oolu has operations in six West African countries (Nigeria, Senegal, Mali, Burkina Faso, Cameroon, and Niger) and has sold over 60,000 solar home systems.
https://oolusolar.com/
For further information, please contact Media@oolusolar.com
About RP Global
RP Global is an independent power producer that draws its expertise from over 35 years of experience in the renewable energy sector, in which it implemented over 40 projects. As a developer, investor and operator, the company’s focus is on hydro, wind and solar PV projects. Currently, RP Global is actively developing a pipeline of around 9 GW. The company’s international team is currently active in Europe, South America and Africa, and is a founding partner of ‘Enery’, building an operating and greenfield PV portfolio in Eastern Europe, and PPA advisory ‘Pexapark’. Headquarters are in Vienna, Austria, and Madrid, Spain.
For more information see: http://www.rp-global.com