Access Bank deploys SUNREF to finance Lagos Business School’s energy transition project
Access Bank Plc and Lagos Business School (LBS), have reached an agreement on the funding of LBS’s 350KW and 152KWh hybrid power solutions project, deploying the Sustainable Use of Natural Resources and Energy Finance (SUNREF) facility.
SUNREF is a green energy facility availed to Access Bank by the Agence Française de Développement to support Nigeria’s journey towards carbon emissions’ reduction and a cleaner environment.
The facility dynamics match the financing organised by the bank, with renewable power expertise from AFD through their Technical Partner, Winrock.
The LBS financing which was packaged by the Bank’s Business Banking Division and the Project & Structured Finance team will be the first utilization of the SUNREF facility.
Speaking on the landmark, MD/CEO of Access Bank, Roosevelt Ogbonna who was present to formally sign the offer document said: “Our Bank believes in projects with sustainable and impact value, and the LBS project is only the beginning of many such projects the Bank will support using the SUNREF facility.”
