We set up Vanpeux to solve energy problems in Nigeria— cofounders

Ovoke Ekrebe and Peter Ejimudo, cofounders of Vanpeux Global Synergy, were once bank workers.

In 2011, they came together to set up the renewable energy firm to solve energy crisis hitting businesses, offices and homes across the country.

Ever since then, the partners have powered more than 1,500 homes and 45 businesses through solar energy.

It was not always easy for them as the business once faced its own crisis, which nearly killed and buried it. But God being on their side, the business survived the vagaries of the Nigerian economy and is standing today with both legs.

The partners see themselves as having died and resurrected. This is understandable as many entrepreneurs in Nigeria often develop high blood pressure when they lose the amount of money Vanpeux cofounders lost. But Ovoke and Peter did not waver in the face of the challenge.

“We lost all we had and started afresh,” Ovoke Ekrebe, co-founder of Vanpeux, tells Start-Up Digest.

Four to five years later, this firm has risen to become one of the most sought-after in Nigeria. Apart from serving numerous customers, Vanpeux has become one of the 45 renewable energy firms certified to do solar business in Nigeria by the United States Agency for International Development (USAID) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), American and German development agencies respectively.

The partners tell Start-Up Digest that what has kept them going is their grit and belief that hard times are only for a brief moment.

The company provides solar-to-water generation solutions. This means that a farmer does not need to wait till the next rainy reason to plant, which is one practice threatening Nigeria’s food security.

The company provides solar water heaters, which can be used at homes, hospitals and factories. It also provides solar PVs for electricity generation.

“Sometimes, people compare the price of diesel or fuel with the total cost of renewable energy,” Ovoke says.

“If you compare renewable energy that can last up to 15 to 20 years with buying a diesel, it is a mismatch. It is like comparing the cost of building a house with the cost of paying rent. Won’t you rather build a house, even if it means borrowing some money and pay over time?” he asks.

He says that with N500, 000, a farmer can set up an irrigation solution, explaining that renewable energy is replenishable by nature and does not get exhausted.

He explains that some solar water systems can go as high as N2.5 million, but adds that solar water heaters with a capacity to produce 50 to 300 litres per day may go as low as N150,000 to N350,000.

He says that Vanpeux’s services are affordable and competitive as it allows customers to do spread payment.

Ovoke further explains that he and his partner were motivated to set up the firm due to an obvious gap they saw in Nigeria.

“We saw in advance that power was an issue. It was clear that power was an issue and the easiest way of getting power to the underserved was through renewable energy,” Ovoke says.

“There is a huge need for power. So many places are off the grid, on the grid but under-electrified (they have high tension wires and low voltage wires but are not powered) and off the grid,” he explains, urging communities to embrace this technology.

He says that Nigeria has an advantage of exploiting opportunities in renewable energy being in the Equator.

He notes that renewable energy power storage does not get exhausted during rainy season as many people think.

“During rainy season, what we have is reduction in power generation, but this does not mean absence of power. Even in rainy days, what we have is less power generation, which is always a few days.

“It is not a challenge. If Germany that has winter and other parts of the world with terrible conditions use renewable energy; if Islands of the Pacific can set up solar farms, why not Nigeria which is in the Equator?” he asks.

However, one big challenge facing this firm is funding. The firm plans to power hundreds of thousands of homes, offices, factories and hospitals, but it is hampered by funding.

The firm needs over N150 million or much more to fund several projects across the country, they say, adding that investors are always invited.

 

ODINAKA ANUDU