All On, USADF seal $10m deal for off-grid energy access --[Reported by Umva mag]

All On Partnerships for Energy Access and the United States African Development Foundation have announced the renewal of their partnership to expand off-grid energy access in Nigeria, with a focus on underserved communities.

This new initiative, according to the statement, will see both organisations commit a combined $10m over the next three years to support innovative, African-owned businesses providing sustainable energy solutions.

To commemorate the renewal, a signing ceremony was recently held in New York, attended by All On Chief Executive Officer, Caroline Eboumbou and the USADF President and CEO, Travis Adkins, alongside representatives from both organisations.

“Through the All On-USADF Nigeria Energy Challenge, the partnership will continue investing in off-grid energy companies to increase access to clean energy for low-income communities, while contributing to Nigeria’s socio-economic development. The programme will drive the localisation of the energy value chain,” the Punch newspaper report on Thursday quoted the statement as saying.

It added that the initial cycle of the challenge was said to have delivered $3.6m in blended finance to 36 companies that have since established over 100,000 connections, improving more than 500,000 lives through access to clean energy.

The USADF President and CEO of Travis Adkins, stated, “Our collaboration with All On has shown the transformative impact of off-grid energy solutions in improving lives and livelihoods in rural and underserved regions of Nigeria. We are excited to continue this partnership’s important work, advancing clean energy technologies while addressing essential needs like health, education, gender inclusion, and economic empowerment.

“The new funding will target both existing grantees and new businesses, focusing on addressing key challenges identified from previous cohorts. USADF will provide up to $250,000 in grant funding per selected project, while All On will contribute up to $750,000 per recipient through various investment mechanisms to support businesses in Nigeria’s energy sector.”

The CEO of All On, Eboumbou, maintained that the partnership had already made a significant impact on energy access in Nigeria.

GIK/APA

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