The announcement was contained in a statement issued in the early hours of Monday to the media by the All On.
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The new Demand Aggregation for Renewable Technology programme will ensure that affordable, high quality solar products reach the communities most in need in Nigeria, before piloting the program in four additional countries in Africa.
The investment will be used to increase Salpha’s inventory and product range, expand sales channels and customer service infrastructure, and test more flexible pricing models to sustainably manage rural customers in states across Nigeria, including in the Niger Delta.
Olusola Owoyemi, Infibranches CEO, said he is enthusiastic about the potential of this deal to fill the gap.
This was announced in a statement on Tuesday by the organisers.
These seven companies represent start-up businesses from around the country, whose innovative products span a variety of renewable energy services from mobile solar-powered charging systems, battery operated solar generators, waste to gas technologies and a patented solar inverter system to name a few.
CEO of NXT Grid, Fabio De Pascale, said: “We are extremely excited about partnering with All On.
“This investment would guarantee the expansion of Auxano’s solar panel assembly capacity by over 50 percent and is a great win for local content,” said All On Programmes and Investments Manager, Afolabi Akinrogunde.
Nigerian off-grid impact energy investment company, All On, on Wednesday announced a postponement of all Q2 2020 interest payments on current interest-bearing investments.
All On, a Shell-funded off-grid energy impact investment company, will be funding scholarships for up to 120 professionals affiliated to the Niger Delta.
The Bank of Industry and All On have announced the establishment of a N1 billion Niger Delta Off-Grid Energy Fund.
The US African Development Foundation 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 the successful applicants.
The Nigeria Climate Innovation Center has announced a grant funding partnership with All On to support the 2018-2019 Climate Launchpad winning teams’ incubation, the NCIC’s inaugural incubation programme.
The Off-Grid Energy Challenge is a joint effort by the USADF and All On to develop, scale-up or extend the use of renewable off-grid energy technologies to reach communities not served by existing power grids.
Nigerian off-grid energy investment company, All On, has announced its partnership with the African Development Bank, Nordic Development Fund, Global Environment Facility and Calvert Impact Capital towards a $58 million first close for the Off-Grid Energy Access Fund.
Seeded with funding from Royal Dutch Shell (Shell), All On works with partners to increase access to commercial energy products and services for underserved and unserved off-grid energy markets in Nigeria, with a special focus on the Niger Delta.