The Nigeria Sovereign Investment Authority (NSIA) has teamed up with All On, a Nigerian impact investor focusing on renewable energy, to introduce solar power solutions to energy-deprived communities across Nigeria. This collaborative effort aims to utilize Distributed Renewable Energy (DRE) approaches, such as solar mini-grids and home systems, to reach areas that traditional grid infrastructure has left behind.
Aminu Umar-Sadiq, Managing Director/Chief Executive of NSIA, highlighted the project’s potential and urged continuous investment from development partners, emphasizing the importance of both capital and technical support. He challenged the private sector to innovate and develop scalable, affordable DRE solutions while pledging the authority’s support.
“We are dedicated to spearheading this collective effort, collaborating with partners to overcome barriers hindering DRE adoption and to expand its implementation across Africa. DRE isn’t just an answer to energy poverty; it’s a catalyst for a sustainable, fair, and prosperous future,” stated Umar-Sadiq.
DRE plays a pivotal role in NSIA’s Renewable Investment Platform for Limitless Energy (RIPLE), aiming to broaden energy access for underserved population segments. The platform targets displacing diesel-powered generation for commercial and industrial consumers.
NSIA demonstrates commitment through initiatives like the Construction Finance Warehouse Facility (CFWF), a N10 billion fund in partnership with InfraCredit, enabling long-term capital for sustainable infrastructure projects and attracting further domestic investment.
However, Umar-Sadiq stressed the necessity for enabling policies, financial incentives, and streamlined regulations to unleash the full potential of DRE.
Caroline Eboumbou, Managing Director of All On, highlighted DRE’s agility and efficiency in illuminating long-overlooked remote villages and towns. She pointed out that DRE, particularly mini-grids, has the potential to uplift millions of low-income households and small businesses while generating significant annual revenue.
To harness this potential, Eboumbou emphasized All On’s Demand Aggregation for Renewable Technologies (DART) program. Launched in 2022, DART serves as a catalyst, uniting multiple DRE developers, negotiating favorable prices for renewable energy components, and securing financing from commercial lenders.
In under two years, DART has supported 12 companies, facilitating over 40 mini-grids and 47,000 connections, positively impacting over 230,000 lives and businesses. Notably, the Chito Community project in Benue State, a 350KW mini-grid, stands as a testament to DRE’s transformative impact, benefiting over 7,000 households and businesses.
DRE’s influence transcends illumination, fostering economic development, entrepreneurial empowerment, improved healthcare services, and enabling community members, especially women, to actively participate in shaping their economic destinies.
