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Nine off-grid developers have just been announced as winners of the last edition of the Nigeria off-grid energy challenge.
- The 2021 edition of the challenge have been announced with application closing on the 28th of February
- 20 companies will be chosen in this year’s challenge.
Nine off-grid energy developers have been announced as winners of the 2019 Nigeria Off-Grid Energy Challenge. The winners have received blended financing of US$100,000 from the American Foundation for African Development (USADF) and All On. According to the organisations at the start of the initiative, up to US$50,000 per selected company will be provided in the form of convertible debt from All On; as well as a capital grant of US$50,000 from USADF for each winner. Selected winners will also have access to technical assistance from the USADF. The competition has awarded funds to 24 companies for a total of $2.4 million in mixed financing.
Read also: All On and USADF Open 2021 Off-Grid Energy Challenge
Off-grid enterprises chosen include Allbase Global Technology, Ashdam Solar Company, Covenant Plus Engineering, Green Acres Microfinance Bank, Reeddi Technologies, Salpha Energy, Solarworld Alternative Energy Resources, Sunhive and Vesselnet Integrated Services.
One of the winners, Sandra Chukwudozie, Managing Director of Salpha Energy, stated that the funding would enable them to purchase and distribute solar home systems to Niger Delta communities.
USADF and All On have announced the opening of the Nigeria Off-Grid Energy Challenge 2021. The Rockefeller Foundation will also support this programme. Applications are expected by February 28th, 2021. This year, the competition portfolio is $2,000,000. This will allow 20 additional green businesses to receive funding, each worth $100,000 according to the USADF.