Rensource Distributed Energy Limited has been given an award by the International Finance Corporation and the Financial Times Newspaper, FT, for its role in reversing power shortages in Nigeria through the provision of affordable power solutions.
In a statement by Rensource, the company clinched the ‘Excellence in Climate Solutions’ award, at the Transformational Business Awards, also known as ‘the Oscars of the renewables world’, held in London. The award was organised by the International Finance Corporation (World Bank Group) and Financial Times.
Rensource Distributed Energy, the statement noted, won the ‘climate solutions award and was given special mention for its work in the ‘Transformational Solutions in Urban Infrastructure and the Climate Solutions’.
The company was also recognized for its work in reversing the trend of power shortages in Nigeria which keeps hurting businesses and households, by delivering low-cost, fixed-price energy to urban Small and Medium Scale Enterprises, SME, and households with solar-hybrid mini-grids.
“The Transformational Business Awards is an impact-driven award set up by the IFC, which is an arm of the World Bank Group and The Financial Times (FT) newspaper. The awards pinpoint the crucial role of private sector initiatives and capital in efforts to attain the United Nations Sustainable Development Goals (SDGs) — a blueprint set out by the UN to achieve a more sustainable future and address climate change,” the company explained.