Stanbic Bank begins renewable energy campaign

Management of Stanbic Bank Ghana and its partners have installed solar power systems at three of its branches in a bid to lower the bank’s carbon emissions, making it more environmentally friendly.

The systems were installed at the bank’s branches at Accra, Kasoa and Tema. The Tema and Kasoa systems have a capacity of 10 kWp, while the Dansoman branch has a capacity of 20 kWp.

Mr Alhassan Andani, the Chief Executive Officer, Stanbic Bank Ghana, addressing the media at the official launch of the facilities, the campaign calls for the need to harness solar energy to improve service provision in Ghana.

The three facilities are expected to save 27 tonnes of CO2 emissions every year.

“Currently the bank saves about 30 percent of cost of electricity from the national grid while operating with the three systems. And that could generate an amount close to GHS2million in savings through the project” he said.

Mr. Andani explained that it is the desire of the Bank to be known as the industry player in sustaibnable banking using renewable energy systems.

“We are leading the way to enable Ghana to see the potential in harnessing cheap solar energy,” he added. Management will make sure and support our customers to adopt the solar energy systems and will provide financing in that regard,” he said.

Mr Markus Schwaninger, Chief Financial Officer, Ecoligo GmbH, the project’s implementing partners, said the company’s fully-financed solar as a service solution allowed companies to access renewable energy, while continuing to focus their resources on their core business.

He said the project creates a strong blueprint for future projects and “we look forward to completing many more in Ghana this year.”

The project was implemented by Ecoligo GmbH in cooperation with its consortium partner, SMA Sunbelt Energy GmbH, and other installation and service partners.

It is part of the worldwide Dena Renewable Energy Solutions Programme coordinated by the Deutsche Energie-Agentur (dena) – the German Energy Agency – and supported by the German Federal Ministry for Economic Affairs and Energy (BMWi) within the German Energy Solutions Initiative.