A Nigerian impact investment company, All On, Odyssey Energy Solutions, and Global Alliance for People and Planet have announced the launch of a global aggregated procurement programme for renewable energy companies, supported by a $10m financing facility, in Nigeria. They said in a statement that the new Demand Aggregation for Renewable Technology programme would ensure that affordable, high-quality solar products reach the communities most in need in Nigeria, before piloting the programme in four additional countries in Africa. It said the All On-managed finance facility would provide debt funding for solar companies already approved by the Rural Electrification Agency for the Nigeria Electrification Program to purchase lower-cost solar equipment through the DART. “We are particularly excited about this deal which will inject much-needed capital into the renewable energy sector in Nigeria,” said All On Chief Executive Officer, Wiebe Boer. The statement said Odyssey Energy Solutions would provide aggregated procurement services in five pilot countries in Africa, starting in Nigeria.

Source: Punch November 25, 2021 02:12 UTC