BY EDMOND ODOK – Energy-deprived communities across the country are set for cheering news with the Nigeria Sovereign Investment Authority (NSIA) engaging All On, a Nigerian impact investor focused on renewable energy, in a robust partnership that offers them light and growth opportunities.
In joining forces, both organisations will be deploying Distributed Renewable Energy (DRE), a transformative approach that utilizes small-scale solutions like solar mini-grids and home systems to reach areas abandoned by traditional grid infrastructure.
Giving insight about the partnership, 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.
She explained that; “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” which is a tantalizing prospect for a nation grappling with energy challenges.
Eboumbou however stated that unlocking this bright future requires more than just technology, adding; “This is where All On’s Demand Aggregation for Renewable Technologies (DART) programme steps in.”
According to her; “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.
“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.”
The statement announcing the collaboration between the two bodies further stated thus; “One shining example is the Chito Community project in Benue State. 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.”
This is even as the statement emphasized that the impact of DRE extends far beyond mere illumination, because clean, reliable energy fosters economic development, empowers entrepreneurship, and strengthens healthcare services, even as it also equips communities, particularly women, to participate meaningfully in the economy and shape their destinies.
Speaking on the partnership, NSIA’s Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, said given the project’s immense potential, there is an urgent need for continued investment from development partners, in terms of providing both capital and technical assistance.
While also challenging “the private sector to innovate and develop scalable, affordable DRE solutions”, the NSIA boss said; “We are committed to leading the charge in this collective effort. 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 described DRE as being central to NSIA’s Renewable Investment Platform for Limitless Energy (RIPLE) which seeks to achieve expanded energy access to the unserved and underserved segments of the population, adding; “RIPLE is expected to target the displacement of diesel-powered generation for commercial and industrial consumers.”
For him; “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.”
However, advocating that more enabling policies, financial incentives, and streamlined regulatory processes are essential for DRE to reach its full potential, Umar-Sadiq said; “This commitment to DRE by NSIA and All On marks a new dawn for energy-deprived communities in Nigeria.
“As DRE illuminates villages and towns across the country, it signifies more than just access to electricity, it represents a pathway to economic growth, empowerment, and a brighter future for millions.”
