The off-grid energy sector in Nigeria will be more reachable to the country’s millions of off-grid households and SMEs
The off-grid energy requirements of Nigeria is to be met to some extent by some of the leading names in the sector. As the country is lacking in affordable and sustainable energy, businesses have come forward to invest in the sector.
Firms such as All On are investing to make commercial energy products and services available to the under-served and un-served off-grid energy markets. In its venture, it is collaborating with Royal Dutch Shell and aiming to expand its market share across the country. All On aims to reach low income households, SMEs and communities to ensure affordable, reliable and sustainable energy for them. It is the company’s first investment in Nigeria’s off-grid energy segment. It will especially focus on the Niger Delta region for providing services.
Dr. Wiebe Boer, Chief Executive Officer of All On, said about the company’s goals of achieving a sustainable impact in the off-grid energy sector in the country. Dr. Wiebe said that the partnership indicates the commitment of the company for a market-based approach to make a sustainable impact in the off-grid energy sector. He said that the present initiative is only the beginning of efforts by the company to reach out to the country’s millions of off-grid households and SMEs. The company intends to explore the market further and create more opportunities and have more market share in the energy sector in the future.
Further investments by All On include that in Lumos Global BV and Co-Creation Hub. While Lumos Global BV is a distributed utility company in West Africa, Co-Creation Hub is the country’s leading tech ideation incubator. All On’s collaboration with Lumos Global BV will be an equity investment, while its collaboration with Co-Creation Hub will be in the form of a grant. These collaborations will help All On to engage Nigeria’s technology innovation ecosystem in the access to energy space. All On will also be working with Solar Nigeria, funded by UK Aid. The project will be implemented by Adam Smith International for the receipt of grant funding to further de-risk investments made by All On in the Solar Home System or SHS space.
The company also plans to work with Port Harcourt- headquartered Green Village Enterprises, an indigenous mini grid operator for which negotiations are at an advanced stage. All On plans an equity and debt investment in the award-winning company.
The Managing Director of Lumos Global BV, Ifeanyi Orajaka said that the company is excited about the partnership. Mr. Ifeanyi said that collaborating with an international-level company further validates it as a leading provider of indigenous clean energy in the Sub-Saharan Africa. GVE has identified two per cent of the country’s 180 million population as part of its medium-target and very excited and optimistic about its partnership with All On.
The other firm in collaboration with All On, Co-Creation Hub, says that it is proud to partner with the company to support Nigeria’s early stage clean energy entrepreneurs. The Chief Executive Officer of CCHub, Bosun Tijani said that the company looks forward to identify and support startups. It hopes to meet the energy demands of Nigerians.
These partnerships are targeted at bringing off-grid energy within the reach of millions of Nigerians which lack in the sector at present.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.