The US African Development Foundation (USADF) and All On have officially opened the application window for the 2019 Nigeria Off-Grid Energy Challenge, which will provide up to $100,000 in blended finance per enterprise for successful applicants.
The 2019 application window opened on February 1st and will close on March 15th, 2019.
USADF, a founding member of Power Africa and an independent US government agency established by Congress to support and invest in African-owned and led enterprises and All On, an impact investing company backed by Shell investing in off grid energy solution providers in Nigeria, established the challenge as a multi-year partnership to identify and help scale innovative off-grid solutions to “power up” underserved areas in Nigeria.
Now in the second year of an initial three-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.
The enterprises may be developers of their own technology or acquiring and implementing technologies developed elsewhere.
According to Washima Mede, CEO of Prado Power Limited, “It has not been easy bootstrapping and trying to gain traction as a new business. Thankfully, there are organizations like USADF and All On who have the development of this sector at heart.
“The USADF/All-On grant-loan has given us the chance to amplify our work, and we see ourselves on the path to making reasonable impact on the quality of life for the people in terms of the energy situation,” he stated.
Source: Daily Trust