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All On, USADF announce 9 finalists for US$100,000 Nigeria Off-grid energy challenge

All On, USADF announce 9 finalists for US$100,000 Nigeria Off-grid energy challenge

C.D. Glin, President & CEO of USADF.

The US African Development Foundation (USADF), and All On, on Monday, named nine wholly African-owned enterprises as finalists for the 2020 Nigeria Off-grid Energy Challenge.

The winners of the third edition of the Challenge are Allbase Global Technology, Ashdam Solar Company, Covenant Plus Engineering, Green Acres Microfinance Bank, Reeddi Technologies, Salpha Energy, Solarworld Alternative Energy Resources, Sunhive Limited and Vesselnet Integrated Services Limited.

All nine enterprises will be awarded $25,000 in grant capital from USADF, $25,000 in grant capital from All On via its support from the Rockefeller Foundation through the All On Hub and $50,000 in convertible debt from All On. In addition to funding, the winners will receive technical assistance from USADF and governance support from All On.

“Congratulations to all the finalists on joining an innovative group of local enterprises that have come through this Challenge and are now making impactful contributions in the Nigerian renewable energy sector,” said C.D. Glin, President & CEO, USADF. “We are also happy to announce that the Off-grid Energy Challenge partnership will be extended by an additional two years till December 2022.”

READ ALSO: Nigeria’s 2021 oil revenue at risk as OPEC’S new deal mandates 939,000 bpd cut

The annual Challenge is a multi-year partnership that identifies and helps scale innovative off-grid solutions to “power up” unserved and underserved areas in Nigeria, established by USADF, a founding member of the United States Power Africa Initiative and an independent United States Government agency established by Congress to support and invest in African-owned and led enterprises and All On, a Nigerian impact investing company seeded by Shell, that invests in off-grid energy solution providers in Nigeria.

“In spite of a remarkably difficult year, we are pleased that the Challenge is providing funding to the 2020 cohort of winners,” said Wiebe Boer, CEO, All On. “These emerging indigenous companies have demonstrated that they have what it takes to succeed and over time, scale innovations that will ultimately improve livelihoods and local economies by providing power to unserved and underserved communities.”

The winning enterprises are increasing sustainable energy access, specifically off-grid solutions, and extending the delivery of electrification to unserved and underserved communities in Nigeria.

“The Covid-19 pandemic has exposed the deep inequality in energy access and illustrated how essential reliable electricity is in homes, businesses, and health centres,” said Joseph Nganga, the executive director of The Rockefeller Foundation’s Power & Climate initiative in Africa. “Through the All On Hub, we will continue to support All On in identifying and nurturing innovative entrepreneurs and businesses that are addressing Africa’s energy poverty by scaling Nigeria’s off-grid sector.”

Isaac Anyaogu is an Assistant editor and head of the energy and environment desk. He is an award-winning journalist who has written hundreds of reports on Nigeria’s oil and gas industry, energy and environmental policies, regulation and climate change impacts in Africa. He was part of a journalist team that investigated lead acid pollution by an Indian recycler in Nigeria and won the international prize - Fetisov Journalism award in 2020. Mr Anyaogu joined BusinessDay in January 2016 as a multimedia content producer on the energy desk and rose to head the desk in October 2020 after several ground breaking stories and multiple award wining stories. His reporting covers start-ups, companies and markets, financing and regulatory policies in the power sector, oil and gas, renewable energy and environmental sectors He has covered the Niger Delta crises, and corruption in NIgeria’s petroleum product imports. He left the Audit and Consulting firm, OR&C Consultants in 2015 after three years to write for BusinessDay and his background working with financial statements, audit reports and tax consulting assignments significantly benefited his reporting. Mr Anyaogu studied mass communications and Media Studies and has attended several training programmes in Ghana, South Africa and the United States

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