Leading indigenous energy firm, Forte Oil Plc, has commissioned an alternative solar energy solution tagged ‘Green Energy’ solution for medium income earners.
Speaking during the launch, the Group Chief Executive Officer (GCEO), Forte Oil Group, Mr. Akin Akinfemiwa, stated that “we are the foremost integrated energy provider with footprints in upstream, downstream and power generation. Today, as we are launching our solar system, we always look for formidable partners to bring our vision to live."
Akinfemiwa said that the company decided to invest in solar energy to bridge the power gap between the low and medium income earners in Nigeria. He said that the new solar solution was customised at reduced cost to meet the demand of Nigerians, adding that it also supports the economy in terms of poverty alleviation.
According to him, “the solution is mobile, it is cost effective and devoid of service charge," he said. The Forte oil boss said that the product is very efficient and it was targeted at the medium income group that rely on generators to provide power.
Mr Julius Omodayo-Owotuga, the Group Chief Financial Officer (GCFO), Forte Oil Group, said that the solar energy solution comes with four panels, four 100 amps and 12 volts batteries with free installations. Omodayo-Owotuga said the 1.5 KVA solar panel which cost about N1.5 million in the market was given out at the cost N700,000 per unit to wholesalers which also attracts discounts depending on the number units purchased.
According to him, the product has one year warranty while the panels have 4-5 years lifespan. It also lasts for twelve hours depending on the equipment used for. “It was designed for Nigeria's atmosphere with quality materials, targeted at low and medium income earning people of the society, to address the challenges faced with pollution from generating sets.
“We are partnering with various housing estate managements, house builders and accredited engineers to assist in eradicating power challenges in Nigeria through renewable energy," he said.
In his remarks, the commissioner for Energy and Mineral Resources in Lagos State, Mr. Olawale Oluwo, said “this partnership comes at a time when Lagos Government is targeting 3,000 MW off grid and independence of Niger Delta gas. Oluwo said that it is complementary to what the state is doing towards lightening Lagos State through solar energy, and assured that Governor will give it the necessary support.
“We will key into the solar energy solution by Forte Oil which is very vital to our program and now that Forte Oil has entered the solar space, we can be now sure that we have a reliable partner in solar energy, Oluwo assured.