Sterling Alternative Finance Launches Energy Package for Homes

Over 900 Nigerians, 20 Corporations Support Health Workers Fund

Altpower eliminates power challenge facing Nigerian homes, businesses

SAF launches clean and affordable power solution for homes, businesses


Sterling Alternative Finance (SAF), the non-interest banking division of Sterling

Bank Plc, today 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.

Mohammed Yinusa, Head of Digital Business, Sterling Alternative Finance, 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



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.


Mohammed 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 visualize 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


Citing the benefits of Altpower, Head of Digital Business said the solution

would immediately eliminate the cost associated with powering diesel or

petrol generators and its accompanying noise pollution.

Other benefits are access to clean and sustainable energy, effective monitoring

and efficient use of power. The power and solar powered solution allows

customers to charge their batteries when there is sunlight or use power from

the grid when sunlight is not available, thereby making it a win-win solution.

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