A Rockefeller Foundation and Jeff Bezos-backed consortium has offered to invest in Nigeria’s electricity sector
The move will see the consortium invest about $25 million in loans and grants to mini-grid developers If successful, the scheme will end the country’s constant power outages caused by unstable national grid
A consortium supported by key personalities such as the Rockefeller Foundation and the Bezos Earth Fund is ready to invest in Nigeria’s energy sector to address Nigeria’s decades of constant power outages plaguing the country..…CONTINUE READING
The initiative, under the Global Alliance for People and Planet (GEAPP), a collaboration between the Rockefeller Foundation, Bezos Earth Fund, and Ikea Foundation, is driving the programme to deploy solar mini-grids to address the country’s continued power cuts.
The first mini-grid, launched three years ago, has already proven its potential to augment the erratic power supply from the national grid.
The decentralised energy systems use solar power to generate electricity to keep businesses and households operational.
Bloomberg reports that the group is building two more mini-grids and has received funding from a fourth partner to grow the projects across Nigeria. According to the report, Mohammad Wakil, country delivery lead for GEAPP, disclosed in an interview that one of the projects is sited in Ogun state.
