The Nigeria Sovereign Investment Authority (NSIA) has partnered with All On, a Nigerian impact investor specializing in renewable energy, to bring solar power solutions to energy-deprived communities nationwide. The collaborative effort focuses on implementing Distributed Renewable Energy (DRE), employing small-scale solutions like solar mini-grids and home systems to reach areas without traditional grid infrastructure.
Transformative Solution for Underserved Areas
Recognizing the significant potential of the project, Aminu Umar-Sadiq, Managing Director/Chief Executive of NSIA, urged ongoing investment from development partners, emphasizing the need for both capital and technical support. He challenged the private sector to innovate and develop scalable, affordable DRE solutions.
NSIA’s Commitment to Renewable Energy
Umar-Sadiq highlighted the centrality of DRE to NSIA’s Renewable Investment Platform for Limitless Energy (RIPLE), aiming to enhance energy access for unserved and underserved population segments. RIPLE intends to displace diesel-powered generation for commercial and industrial consumers.
Financial Initiatives and Commitment to Enabling Policies
NSIA demonstrates its commitment through initiatives like the Construction Finance Warehouse Facility (CFWF), a N10 billion facility in collaboration with InfraCredit. Umar-Sadiq emphasized the need for enabling policies, financial incentives, and streamlined regulatory processes to maximize DRE’s potential.
All On’s Role in the Transformation
Caroline Eboumbou, Managing Director of All On, stressed the agility and efficiency of DRE in illuminating overlooked remote villages and towns. The Demand Aggregation for Renewable Technologies (DART) program, launched in 2022, acts as a catalyst, bringing together DRE developers, negotiating favorable prices, and securing financing for projects.
DART’s Impact on Communities
In less than two years, DART has funded 12 companies, facilitating over 40 mini-grids and 47,000 connections. Notably, the Chito Community project in Benue State, a 350KW mini-grid, is set to positively impact over 7,000 households and businesses, fostering economic growth and new possibilities.
The collaborative commitment of NSIA and All On to DRE marks a transformative journey for Nigeria’s energy-deprived communities, offering not just illumination but a pathway to economic growth, empowerment, and a brighter future for millions.
Source：thisdaylive.com
