Solad establishes strategic alliance with Viathan to power Nigerian businesses
Lagos and London, May 17 2021: Solad Power Group (“Solad” or the “Company”), one of Nigeria’s leading distributed energy solutions providers, has agreed a strategic alliance with Viathan Engineering Limited (“Viathan”) to deliver integrated energy solutions for customers beyond Lagos and across Nigeria.
Solad and Viathan have worked closely together on Solad’s flagship project at Sura market in Lagos, which provides more than 1000 small businesses with reliable and affordable power from Viathan’s gas generation plant on Lagos Island. The alliance brings together Viathan’s world class engineering, gas infrastructure and gas to power generation capability with Solad’s solar generation capability, last mile distribution, customer service, technology and value added services proposition. Solad and Viathan are already collaborating on a range of new opportunities.
Commenting on the alliance, SOLAD Power Group’s Chief Executive Officer Denis O’Brien said: “The success of the partnership and the synergies between Viathan and Solad have been very clearly demonstrated at the Sura project. This alliance will allow us to build on those synergies by developing integrated propositions for additional sites across the region, where a hybrid combination of gas and solar can overcome intractable energy supply problems for businesses of all sizes. By combining our balance sheets, the alliance will also create new financing opportunities at scale, and allow us to lower the cost of project delivery.”
Commenting on behalf of Viathan, Habeeb Alebiosu said: “Following the success of the Sura project, Viathan recognises Solad’s ability to develop the last mile and customer services’ infrastructure for hybrid power solutions, this means that we can utilise our gas generation capacity to access a much wider range of customers. We are very pleased to be extending our partnership, bringing together two key pillars of the government’s energy strategy in gas monetisation and renewables.”
Solad focuses on under-served segments of the energy market, prioritising support for the individuals, small businesses and social infrastructure providers who struggle with access to unreliable or prohibitively expensive energy solutions. Solad has an existing expansion programme to install a further 12 mini-grid solutions in markets across the South West of Nigeria over the next two (2) years, adding more than 20,000 small businesses to its network.
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About the Solad Power Group
Established in 2017, SOLAD is an investor in and operator of distributed energy solutions that deliver clean, reliable, and affordable power to unconnected, or underserved businesses, services, and homes. We believe that delivering clean, reliable and affordable power to the hundreds of millions of African households, service providers and businesses that are currently not connected to, or are under-served by the grid, has the potential to have an unrivaled social, economic and environmental impact on the continent, catalyzing growth and driving inclusion. For more information click here
Viathan is the pioneer integrated energy services solutions company in Nigeria. We specialize in captive and embedded power generation, providing modular, last-mile, scalable power-as-a-service to the end user quicker, cheaper and more eﬃciently to governmental, commercial and industrial wholesale and other service markets. Our goal is to be the premier energy solutions provider and we are committed to producing and distributing clean, uninterrupted and reliable power solutions to the vast number of the underserved across Nigeria. For more information click here