CBN, 4 banks to fund TellCo’s renewable energy project

The Central Bank of Nigeria is leading a consortium of four banks to finance the clean energy project of TellCo Europe Nigeria to end the country’s energy poverty.

According to its Managing Director/Chief Operating Officer, Mr Victor Fodeke, the lenders are Bank of Industry, Zenith Bank, United Bank for Africa and First City Monument Bank.

The company launched its off-grid solar power solutions last month in Lagos to help create jobs through Micro, Small and Medium Enterprises. Fodeke explained that many banks have approached the company to lend a helping hand for the project, while many more would soon join the partnership.

TellCo Europe Nigeria Limited is a Renewable and Clean Energy Solutions Company incorporated in Nigeria under the Companies and Allied Matters ACT.

The company was established as a vehicle to providing Off-Grid Solar Power Business Solutions to MSMES in Nigeria, Solar Homes Systems to households, and Solar Electricity Generation for a greener and sustainable urban future in Nigeria and Africa.

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