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 Altpower.ng 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.