USADF,All On Open 2020 Edition of $100,000 Energy Challenge
Peter Uzoho
The US African Development Foundation (USADF) and All On have officially opened the application window for the 2020 Nigeria Off-Grid Energy Challenge, which will provide up to $100,000 in blended finance per enterprise for the successful applicants.
The 2020 application window opened on January 15th and is expected to close on February 29th, 2020.
A statement explained that the Rockefeller Foundation is also providing funding support for the 2020 edition of the program.
USADF, a founding member of Power Africa and an independent United States of America Government agency established by Congress to support and invest in African owned and led enterprises and All On, an off grid energy impact investing company seeded by Shell in Nigeria, established the challenge as a multi-year partnership to identify and help scale innovative off-grid solutions to, “power up” unserved and underserved areas in Nigeria.
Now in the third year of the partnership, the parties would jointly provide funding to 100 per cent African owned and operated small and medium enterprises that improve energy access through off-grid energy solutions spanning solar, wind, hydro, biomass and gas technologies.
“The enterprises may be developers of their own technology and/or acquiring and implementing technologies developed elsewhere.
“To benefit, applicants need to be legally registered in Nigeria, demonstrate the capacity to track and manage project resources and operate in good standing with the local governments in their areas of operation.
“Up to $50,000 per selected company will be provided in the form of convertible debt along with up to $50,000 of grant capital.
“Sixteen Nigerian companies have been selected through the 2018 and 2019 editions,” the statement explained.
The winners of the 2019 Nigeria Off-Grid Energy Challenge were ICE Commercial Power, Sosai Renewables, Greenage Tech, Pirano Energy, Sholep Energy, Entric Power Systems, ACOB Lighting, NexGenEnergy and Protergia Nigeria.
In the first edition of the Challenge in 2018, the recipients were PradoPower Ltd, Darway Coast, Auxano, Eastwind, Alyx, Creeds Energy and iKabin.
According to 2018 Challenge winner Ola Abraham, CEO of EastWind Labs, “The USADF-All
On blended finance has enabled my company EastWind Labs to profitably provide solar-powered Refrigeration as a Service (RAAS) to Ile-Ife, touching hundreds of families and businesses daily.
“The USADF and All On due diligence process is brutally thorough. You’d think they want to deny you the funding. On the contrary, that’s just the secret sauce for your business success. APPLY, COMPETE, WIN.”
Also, the CEO of Enugubased 2019 Challenge recipient Greenage Energy, Aaron Esumeh, said, “The selection process for the USADF - All On Off Grid Challenge was very detailed and transparent and winning the challenge has inspired us greatly. This opportunity will make us more impactful to the society, providing electricity to the underserved.”