Sterling Bank, StarTimes Launch Solar Financing Hubs, Target ₦2bn Renewable Energy Fund by 2026
…Expand clean energy access through nationwide retail financing initiative
Sterling Bank and StarTimes Nigeria have strengthened their partnership to accelerate Nigeria’s transition to clean energy with the launch of Sterling Solar Financing Hubs across StarTimes retail outlets nationwide.
The initiative, which integrates on-the-spot solar financing into StarTimes’ retail network, aims to facilitate ₦2 billion in renewable energy financing by the end of 2026, significantly expanding access to affordable solar solutions for households and small businesses.
The new target builds on the success of the partners’ existing collaboration, which has already delivered more than ₦600 million in solar financing transactions over the past year. The ambitious expansion is expected to enable thousands of Nigerians to adopt reliable, affordable, and sustainable energy solutions.
Through the partnership, customers visiting participating StarTimes outlets can now select their preferred solar products, receive financial guidance from dedicated Sterling Solar Financing Advisors, and immediately begin the financing process, subject to the bank’s credit assessment.
Speaking on the initiative, Darlington Nwankwo, Divisional Head of Renewable Energy and Mobility at Sterling Bank, described the project as part of the bank’s commitment to making clean energy accessible to all Nigerians.
According to him, Sterling is focused on enriching lives by removing the financial barriers that prevent many families and businesses from embracing renewable energy.
“Sterling exists to enrich lives, and we believe that access to clean, reliable energy should be within everyone’s reach. Through this partnership with StarTimes, we are democratising access to solar by bringing financing directly to the point of need, enabling more families and businesses to transition to sustainable energy without the burden of prohibitive upfront costs. This is about unlocking opportunity, improving livelihoods, and powering Nigeria’s future,” he said.
The first phase of the rollout begins this July with five Solar Financing Hubs located in Lekki, Ikeja, Festac, Surulere, and Victoria Island in Lagos.
The partners plan to expand the initiative to 46 StarTimes outlets across Nigeria before the end of the third quarter of 2026, with a long-term goal of reaching over 200 StarTimes locations nationwide.
Also speaking, Eric Xiao, Vice President of StarTimes Nigeria, said the collaboration goes beyond selling solar products to creating a sustainable energy ecosystem capable of transforming access to electricity.
“With the rollout of the Sterling Solar Financing Hubs, we are doing more than just selling solar products; we are building a sustainable energy ecosystem. By integrating StarTimes’ extensive service network with Sterling Bank’s professional financial services, we are significantly lowering the barrier for Nigerian households and small businesses to access clean energy.”
He added that both organisations would continue to deepen the partnership to ensure more Nigerians enjoy reliable, affordable and smart energy solutions.
Sterling Bank noted that the initiative aligns with its long-standing commitment to sustainable development through its dedicated Renewable Energy division. The bank said it remains focused on bridging financing gaps while driving wider adoption of clean energy solutions across Nigeria.
A member of Sterling Financial Holdings Group, Sterling Bank has over six decades of banking experience and continues to champion innovation through its HEART strategy, which prioritises Health, Education, Agriculture, Renewable Energy, and Transportation, while promoting financial inclusion and sustainable economic growth.