- Bboxx Energy Access signs Output-Based Fund grant agreement with REA Nigeria.
- The agreement will enable the deployment of solar home systems to thousands of Nigerian homes.
Bboxx Energy Access Nigeria has signed an Output-Based Fund (OBF) grant agreement with the Rural Electrification Agency (REA) under the Solar Home Systems (SHS) component of the Nigeria Electrification Project (NEP). Through this agreement, thousands of SHS units will be deployed by Bboxx Energy towards transforming the lives of Nigerians with clean, reliable and affordable electricity.
Speaking at the event, Ernest Akinlola, Managing Director, Bboxx Energy Access, noted, “I am honoured and privileged to represent Bboxx Limited and Bboxx Energy Access Nigeria at the signing of the output-based fund. The $60 million funds allow Bboxx Nigeria to receive grants in the form of subsidies for the installation of Solar Homes Systems (SHS) for households and micro, small, and medium enterprises in rural areas as part of Nigeria’s Electrification Project (NEP). With this development, we will significantly advance our commitment to providing sustainable, clean power to 20 million Nigerians in the next ten years”.
Bboxx, a next-generation utility tackling the global energy poverty crisis, officially launched in Nigeria in October 2021, provides a much-needed solution to Nigeria’s electrification challenges by increasing access to clean, affordable and reliable Solar Home Systems (SHS). Bboxx operations commenced in April 2021 and have rapidly expanded to Badagry, Ikorodu, Ijebu Ode, Abeokuta, Ogbomosho, and Ibadan and continuing to Osun, Ekiti and Ondo states.