Nigeria: $5 million for 6,000 connections and 41,000 beneficiaries

The investment is expected to support up to 9 MW of production capacity and contribute to the creation of around 470 jobs in the communities and businesses served, according to data provided by All On.

The funding, structured as a mezzanine investment, will be used for the development of isolated and interconnected mini-grids aimed at households, businesses, and industrial customers facing limited or irregular access to electricity.

All On states that its contribution complements the Series C funding round of PowerGen’s parent company, WindGen Power USA Inc. Additional capital has been provided by ElectriFI, Impact Fund Denmark, the Sustainable Energy Fund for Africa, and InfraCo.

PowerGen already has assets in Nigeria, including the community mini-grid in Toto, Nasarawa State. The project is presented by All On as the country’s first interconnected hybrid solar mini-grid.

The company develops renewable energy and distribution infrastructure in Nigeria as well as in several other African markets. The new investment will enable it to expand both off-grid and grid-connected solutions in Nigeria.

PowerGen’s CEO, Aaron Cheng, stated that Nigeria remains a priority market for the group and that the new capital will help accelerate the deployment of reliable and affordable renewable electricity.