About 13 startups have been listed for scaled up funding from All On and the U.S. African Development Foundation (USADF). The startups, mostly off-grid, were adjudged successful for their innovations in electricity access in the 4th edition of the Nigeria Off-Grid Energy Competition.
The selected 13 small companies include A1 Power Technologies, Alabaster Agro-Allied Industries, Bols N Sels Technologies, CeeSolar Energy, Elvees Engineering, and Enercity Smart Grid.
Others are First Electric, GreenPower Overseas, Manamuz Electric, Novel Integrated Services, PowerStove Off-Grid Electricity, Sendavis Nigeria and Uwana Energy.
The competition was organized by the U.S. African Development Foundation (USADF) and the investor All On, a Shell-funded impact investment company.
The initiative the USADF and All On aims to identify and scale innovative solutions to improve access to electricity in rural Nigeria.
These start-ups seeking funding will receive $100,000 in several packages. First, $50,000 will be provided in the form of convertible debt by All On, an investment company funded by the Anglo-Dutch oil company Shell and very active in the off-grid renewable energy sector in Nigeria. All On will accompany its loans with a $25,000 grant supported by the Rockefeller Foundation through the All On Hub.
According to the plan, the USADF will provide a $25,000 grant to the winning companies. Winners of the 2021 Nigeria Off-Grid Energy Competition will also receive technical management assistance from the two competition organizers, as well as All On Hub.
According to Travis Adkins, president and CEO of USADF, this support is expected to provide access to electricity for at least 16,000 people, including 4,000 smallholder farmers.
“Eight of the 13 winning companies have women in leadership positions. Another key feature of the 2021 edition of the competition is the emphasis on integrating elements of productive use with cleaner energy access technologies to improve the quality of life and businesses in the selected communities that the projects will serve,” say competition organizers.
All On and USADF, who are extending their partnership for a fifth edition in 2022, are implementing this initiative at a time when Nigeria is focusing on green and hybrid off-grid to accelerate the electrification of its rural areas.
This solution is at the heart of the Nigeria Electrification Project (NEP), implemented by the Rural Electrification Agency (REA) with funding from the World Bank and the African Development Bank (AfDB).
By Chibisi Ohakah, Abuja
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