The Nigeria Sovereign Investment Authority (NSIA) and All On, a Nigerian investor with focus on renewable energy, are joining forces to light up energy-deprived communities across the country.
The partnership is to be undertaken by deploying Distributed Renewable Energy (DRE) that utilizes small-scale solutions like solar mini-grids and home systems to reach communities without national grid infrastructure.
Managing Director of All On, Caroline Eboumbou said in Abuja that DRE would offer agility and efficiency, capable of illuminating remote villages and towns overlooked for far too long.
Her words: “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.
“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.
Recognizing the immense potential, Aminu Umar-Sadiq, NSIA’s MD/CEO, 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. 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.
The Sovereign Wealth manager said that the N10 billion facility would unlock long-term capital for sustainable greenfield infrastructure projects and would attract further investment through domestic capital markets.