Zola Electric Announces Expansion into Nigeria
A statement yesterday quoted the company’s Chief Executive Officer, Mr. Bill Lenihan, to have said ZOLA’s entry into the Nigerian market was in line with the mission of the company to use distributed renewable energy solutions to make clean, affordable reliable 24- hour accessible for anyone, anywhere.
“ZOLA Electric is a power solutions pioneer that is now one of the most trusted brands in Africa’s distributed renewable energy market.
“We have successfully delivered our clean, affordable and reliable power solutions across Tanzania, Rwanda, Côte d’Ivoire, and Ghana. We’re super excited to make our clean, affordable and reliable 24 power solutions available to Nigerian homes, business and organisations,” he said.
Lenihan, explained that the company would expand its distributed smart storage + solar energy model and launch an affordable renewable energy alternative for Nigerians in a bid to deliver clean energy access to over one million households and businesses in Nigeria over the next three years.
The expansion, according to the statement, was focused on improving environmental, health and economic outcomes while driving the transition to clean, renewable energy.
“Nigeria is a rapidly expanding economic powerhouse, with population growth tipped to surpass the United States by 2050. It is Africa’s largest economy and its biggest oil producer. Despite this, the Nigerian electrical grid is unable to meet 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.
“With the current electricity access deficit in Nigeria affecting an estimated 80 million people each day, ZOLA’s expansion will help Nigerian homes and businesses to access reliable 24 hour, with smart storage + solar for a monthly price that is less than the average energy outlay on diesel generators.
“By combining our PAYGo micro-finance leasing and mobile money payments, ZOLA’s energy access model is financially inclusive and adaptable to energy need and income,” Lenihan said.
He further revealed that the affordability of ZOLA’s systems allows customers to redirect their current energy spend on diesel and power bills towards a smart storage and solar system that they will own in the long term resulting in significant cost savings for customers.