The Nigeria Sovereign Investment Authority (NSIA) has sealed a pact with All On to provide electricity to energy-deprived communities across the country.
The initiative will be delivered through Distributed Renewable Energy (DRE), which is a transformative approach that utilizes small-scale solutions like solar mini-grids and home systems to reach areas abandoned by traditional grid infrastructure.
Managing director of All On, Caroline Eboumbou, said DRE offers agility and efficiency, capable of illuminating remote villages and towns overlooked for far too long.
“Mini-grids alone hold the potential to empower millions of low-income households and small businesses while generating a staggering $10 billion in annual revenue,” she explained.
She further noted that unlocking a bright future requires more than just technology, Saying, “This is where All On’s Demand Aggregation for Renewable Technologies (DART) programme steps in. Launched in 2022, DART acts as a powerful catalyst, bringing together multiple DRE developers negotiating advantageous prices for renewable energy components and securing financing from commercial lenders.
“In less than two years, DART has funded 12 companies, paving the way for over 40 mini-grids and 47,000 connections. Over 230,000 lives and businesses are set to be positively impacted, a testament to DRE’s transformative power.”
She pointed at the Chito Community project in Benue State as a shunning example.
“This 350KW mini-grid, the largest isolated project in the state, will positively impact the lives of over 7,000 households and businesses, opening doors to new possibilities and economic growth,” she said.
Recognizing the immense potential the project holds, the Managing Director and Chief Executive Officer of NSIA, Aminu Umar-Sadiq, called for continued investment from development partners, providing both capital and technical assistance.
He also challenged the private sector to innovate and develop scalable, affordable DRE solutions.
“We are committed to leading the charge in this collective effort,” he declares. “We are working closely with partners to address the barriers to DRE adoption and to scale up its deployment across Africa. We believe that DRE is not just a solution to energy poverty, but a catalyst for a more sustainable, equitable, and prosperous future, he stated.
He noted that DRE is central to NSIA’s Renewable Investment Platform for Limitless Energy (RIPLE) which targets expanded energy access to the unserved and underserved segments of the population.
He added that RIPLE is expected to target the displacement of diesel-powered generation for commercial and industrial consumers.
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