SBM bank signs a renewable energy deal with safer power

By Monica MUEMA

SBM Bank has continued to reinforce its commitment to environmental sustainability and investment in green projects after partnering with Safer Power Limited in a project that aims to connect Stoni Athi Resort to off-grid solar power.

Through collaborative and similar initiatives in the past, the bank has stamped its commitment to providing sustainable financing for projects that will allow access to clean, reliable, and affordable energy.

This commitment is tied to our unrelenting efforts to address climate change and increase our investment in green projects with the future generation in mind.

With such a project, we are imprinting our confidence in the journey towards fostering eco-friendly practices and supporting businesses in their transition to renewable energy.

“Our focus through this collaboration is to empower businesses within the hospitality industry and the commercial and industrial sector to embrace sustainable, cost-effective, and reliable solar energy solutions.

Leveraging the technological prowess of Safer Power Limited, we aim to play a pivotal role in reducing carbon footprints and steering the course towards a more sustainable energy landscape, representing the future of our industries and country,” said SBM Bank Director Corporate Assets Eric Wambua.

This partnership is a guaranteed show of support for Kenya’s ambitious goal, targeting 100 percent transition to renewable energy by 2030, while contributing to the United Nations’ Sustainable Development Goals on affordable and clean energy and climate mitigation through increased access to affordable and reliable energy.

“We are overjoyed to be part of the financial institutions that are on the front line spurring the growth of the energy sector in Kenya through partnership with entities that share a common mindset and goal such as Safer Power Limited.

Through this partnership and the commissioning of this 123.3wp/192KWh solar power plant, I believe we are playing a big role in strengthening the social-economic status of the hospitality, commercial and industrial sector not only here in Stoni Athi but also within the country,” Mr. Wambua said.

As SBM bank, we are reemphasizing our interest in supporting people and interested groups, whether in the Small and Medium-sized Enterprises (SMEs) or large corporations, with sustainable finances through tailor-made products for different sectors such as Agriculture, Education, Health, and Manufacturing.

The CEO of Safer Power Limited, Eng. Dalmus Mbai, expressed excitement about being at the forefront of companies providing renewable, low-cost, and safe energy to key sectors contributing immensely to the country’s social and economic growth.

“We are proud to contribute to this project, which aligns with the ambitious goal of connecting as many households and entities as possible to the solar off-grid system in the country.

This initiative significantly enhances our national capacity. The project will play a crucial role in leaving an indelible mark on mitigating climate change, building resilience to volatile prices, and lowering energy costs,” said Eng. Dalmus.