JMG Limited has introduced its lease-to-own solar power model, presenting it as an effective solution for accelerating the uptake of clean energy in Nigeria, particularly for businesses and institutions that struggle with high upfront costs.
The company disclosed this initiative on Monday during a media engagement at its headquarters in Lagos, coinciding with the International Day of Clean Energy.
During the event, Mr. Rabih Jammal, Chief Commercial Officer of JMG, emphasized that clean energy is not merely a future goal but a current reality that is already yielding technical, commercial, and financial advantages nationwide.
"Clean energy is a reality today and is functioning effectively," Jammal stated, highlighting that JMG’s headquarters operates on a 129-kilowatt solar power system that meets approximately 95 percent of its energy needs.
He further noted that similar clean energy systems have been successfully implemented in various commercial and public facilities, including the Awka State House and NIPCO fuel stations, significantly reducing carbon emissions, lowering diesel expenses, and enhancing energy reliability.
According to Jammal, the lease-to-own model plays a vital role in Nigeria's transition to renewable energy, as it permits organizations to adopt solar solutions without the necessity of full upfront payment.
Detailing the model, the Product Manager for Hybrid Power Systems at JMG, Mr. Raymond Nwose, explained that clients under this arrangement can finance their solar installations through monthly payments spread over an agreed period, typically spanning 84 months.
"Upon completion of this timeframe, generally seven years, the ownership of the system transfers to the customer," Nwose clarified.
He mentioned that this approach allows access to clean energy for customers who might lack the immediate capital to buy solar systems outright while still benefiting from a consistent power supply and long-term savings on energy costs.
Nwose also noted that besides the lease-to-own model, JMG provides outright purchase and power-as-a-service options, although the lease-to-own and power- as-a-service arrangements are dependant on minimum system capacity criteria.
Jammal characterized the adoption of clean energy as an essential economic requirement for Nigeria, asserting that it diminishes energy expenses, boosts competitiveness, and empowers communities.
"As nations shift towards sustainable practices, embracing clean energy is not only an environmental decision for Nigeria but also an economic necessity," he added.
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