The Nigeria Sovereign Investment Authority (NSIA) and All On, a Nigerian impact investor focused on renewable energy, have synergised to bring light and opportunity to energy-deprived communities across the country.
Both parties say they will achieve this by deploying Distributed Renewable Energy (DRE), a transformative approach that utilises small-scale solutions like solar mini-grids and home systems to reach areas abandoned by traditional grid infrastructure.
L-R Caroline Eboumbou – MD All On, and Aminu Umar-Sadiq, MD/CEO, NSIA
Caroline Eboumbou – MD All On noted that DRE offers agility and efficiency, capable of illuminating remote villages and towns overlooked for far too long. According to her, “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” – a tantalizing prospect for a nation grappling with energy challenges.
However, unlocking this bright future requires more than just technology. 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 and negotiating advantageous prices for renewable energy components and secure financing from commercial lenders.
On his part, Aminu Umar-Sadiq, NSIA’s MD/CEO, called for continued investment from development partners along with provision of both capital and technical assistance. He also challenged “the private sector to innovate and develop scalable, affordable DRE solutions”.
DRE is central to NSIA’s Renewable Investment Platform for Limitless Energy (RIPLE) which wants to achieve expanded energy access to the unserved and underserved segments of the population. RIPLE is expected to target displacement of diesel-powered generation for commercial and industrial consumers.
NSIA is actively demonstrating this commitment through initiatives like the Construction Finance Warehouse Facility (CFWF), established in collaboration with InfraCredit. This NGN10 billion facility unlocks long-term capital for sustainable greenfield infrastructure projects, attracting further investment through domestic capital markets.
Umar-Sadiq called for more enabling policies, financial incentives, and streamlined regulatory processes that are essential for DRE to reach its full potential.
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