AllOn, an impact investor, has sealed three different deals to provide off-grid electricity to communities in the oil rich Niger Delta region.
The firm said its target was to provide electricity to over 1000 homes in the region in the first phase of the agreement on the off-grid investment.The agreement which is expected to give power to communities including markets was between Allon and its partners, Lumos, Cold Hubs and GVE Projects Limited.
Speaking in Port Harcourt after the signing of the agreement, the Chief Executive Officer of All On, Dr. Boer Wiebe, said the deals would give an accelerated access to affordable and sustainable energy sources in the region.Wiebe stated that the purpose of the agreement was to resolve the problem of poor electricity in the Niger Delta, adding that individuals would have the opportunity of generating their own power at low cost.
He said the the deal would address the electricity need in the region, noting that Cold Hubs in the agreement would provide solar power to help preserve perishable products in rural communities.The AllOn CEO said, “We have signed three deals focused on off-grid power generation. The investment will provide off-grid electricity to communities. It is for people to solve their power problems individually, on this, we have signed three deals in Port Harcourt.”
Wiebe further regretted that the Distriburion Companies (DISCOS) are underperforming, stressing that soon off-grid would take over the market.
She said, “The DISCOS are under performing. This investment will give more opportunity for individuals and big firms to provide electricity for themselves. When the takes over the DISCOS may on left with customers who cannot pay for their service.”
In her speech, the Programmes and Investments Manager, All On, Florence Okoli, disclosed that Allon was seeded with funding from Shell Petroleum Development Company (SPDC) adding, “We are working with the three partners to increase access to commercial energy products and services for under-served and un-served off-grid energy markets in Nigeria with a special focus on the Niger Delta.“Power is important to SPDC that is why they gave the seed capital as empowerment for this investment. What we invest is what the project needs,the investment is significant enough to make the partners scale up.”
However, the Chief Executive Officer, Nnaemeka Ikegwuonu, pointed out that the firms in the agreement would use renewable energy to preserve perishable agricultural produce in markets.Ilegwuonu noted that the investment would meet the needs of Nigerian in the area of food preservation, regretting that preservation was the problem of farmers and traders.
He said the firm would install solar powered refrigerator in rural markets, adding that farmers would be given the opportunity to preserve their produce within the period of 5 to 21 days.
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