……..In 4yrs, Challenge awarded 37 firms US$3.7m in blended finance.
………Impacted 4,000 smallholder farmers through clean energy
All On, a Shell Nigeria funded green energy hub has opened the 2022 Nigeria Off-Grid Energy Challenge, whereas each successful enterprise will get US$100,000 as finance.
In the past, the Challenge has awarded funds to 37 companies totaling US$3.7million in blended finance. Also, the Challenge has impacted an estimated 16,000 people, including 4,000 smallholder farmers, through clean energy.
Shell said in a statement yesterday that it is collaboration with the United States African Development Foundation (USADF) in the project, while the Rockefeller Foundation, anchor partner of the recently launched Global Energy Alliance for People and Planet, is providing support to the All On Hub for the program.
Chief executive officer of All On, Wiebe Boer said in the statement that the companies have been encouraged that the challenge is able to fund another cohort of strong winners in spite of a continued challenging COVID environment.
He noted that there were eight women in leadership roles in the 13 winning enterprises in 2021, and expressed the hope that the number will increase in 2022.
“The annual challenge is a multi-year partnership that identifies and helps scale innovative off-grid solutions to “power up” unserved and underserved areas in Nigeria. The Challenge is delivered through a five-year partnership between USADF,” he said.
USADF is a founding member of the U.S.-led Power Africa Initiative and an independent U.S. government agency established by Congress to support and invest in African-owned and led enterprises.
All On, is a Nigerian impact investing company seeded and funded by Shell that invests in off-grid energy solution providers in Nigeria.
According to Wiebe Boer, the partnership is entering the final year of the recently expanded five-year partnership, the parties will jointly provide funding to 100% African-owned and operated small and medium enterprises that improve energy access through off-grid energy solutions spanning solar, wind, hydro, biomass, and gas technologies.
Chidi Ekpewerechi
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