Fnb Launches Renewable Energy 'lease' Solution For Businesses

FNB has introduced a new energy-as-a-service solution for businesses, offering a renewable energy lease through its power purchase agreement PPA called FNB Energy Solutions.

FNB Energy Solutions retains ownership of the renewable energy infrastructure, which is installed at a clients premises, and sells the energy produced to the client.

The solution primarily focuses on photovoltaic installations but other renewable energy technologies can be considered. It is targeted at businesses with significant day-time electricity demands and the minimum generation capacity is 300 kW.

Our solution is designed to help businesses meet their sustainability goals and energy needs without placing strain on their financial resources. We take on the performance and operational risks, said Monique Botha , FNB Sustainable Energy Lead.

The FNB Energy Solutions model involves collaboration between FNB and technical and asset management partners including ACES Africa, Nuvo Energy, Rhino Energy, RenEergy, SOLINK and Matriarch.

FNB Energy Solutions offers typically shorter-term PPAs to enable businesses to adapt their energy strategies through technology and market condition changes.

Clients can purchase the installed renewable energy plant after the fifth year of operation.