Green Energy

Clean Energy Initiative

Powering homes with clean energy

The Foundation offers a green energy loan to provide clean, safe, and renewable energy for both homes and businesses. This is in response to the common use of harmful fossil fuels as an alternative energy source due to the unreliable supply of electricity from the National Grid.

The green energy loan aims to provide individuals and SMEs with affordable funding for their energy needs without disrupting their daily commitments, and help people switch from noisy and harmful fossil fuels to cleaner, safer, and renewable energy alternatives.

Green Energy Solar
Programme Objectives

Objectives of the Green Energy Loan

Portfolio Growth

To boost the Foundation's loan disbursement portfolio amid increasing competition in the microfinance sector.

Off-Grid Energy

To contribute to the development and acceleration of off-grid energy adoption in Nigeria.

Expert Partnerships

To leverage the expertise of renewable energy companies for costing and installation of energy systems.

Benefits

Why switch to green energy?

Cost Savings

A client spending ₦30,000 monthly on fuel (₦360,000/year) could instead invest in a solar system for ₦300,000 lasting 10+ years — saving ₦3.3M over that period.

Health & Safety

Solar energy eliminates health hazards like carbon monoxide inhalation and fire risks associated with burning fossil fuels.

Multi-Functional

Many solar products offer multiple functions including lighting, radio, and serving as a power bank — potentially a source of income.

Noise Elimination

Solar products are completely silent, unlike generators, allowing for better focus and improved quality of life.

Reduced Crime Risk

Solar lighting removes the need to go outside late at night to operate a generator, reducing the risk of robbery.

Environmentally Friendly

Solar energy does not negatively impact the environment and contributes to the reduction of global warming and climate change.

Loan Details

Terms & Conditions

Loan Amount

₦100,000 – ₦10,000,000

Business History

Minimum 1 year in operation

Initial Deposit

Standard 10% for all clients

Tenor

1 – 24 months (flexible)

Penalty Interest

2.25% of monthly repayment for late payments

Commitment Fee

1.5% of loan amount

Risk Premium

2% of loan amount

Administrative Fee

1% of loan amount

Security (under ₦5M)

1 guarantor + 2 post-dated cheques + lien on asset

Security (over ₦5M)

2 guarantors + 4 post-dated cheques + lien on asset

Repayment

Equal monthly instalments

Approval Time

Maximum 2 weeks after document submission

Disbursement Process

70% of the total asset cost is paid to the vendor before installation; the remaining 30% is paid after installation is confirmed by the client. No cash disbursements are permitted. All payments are handled by the Head Office Finance department.

Eligible Projects

What can the loan be used for?

  • Projects that improve energy efficiency and reduce energy costs
  • Renewable energy production for personal use (not commercial sale)
  • Solar photovoltaic and solar hot water heating systems
  • Improving efficiency of environmentally-friendly technologies
  • Equipment replacement to improve energy efficiency
  • Fuel switching, geothermal, biogas, and combined heat & power
Eligible Clients

Who can apply?

  • Salary earners seeking affordable home energy
  • Legal entities and sole traders registered under commercial law
  • Hospitals, schools, universities, and SME clusters
  • Agricultural and farming businesses not connected to the national grid
Apply Now