A private firm, Emel Solar and the Rural Electrification Agency (REA) have signed grant offer agreement under the Output Based Fund (OBF) for the firm to sell Solar Home Systems (SHS) to Nigerian households and businesses.
The project is implemented by REA and supported by the World Bank. Daily Trust reports that in January 2019, REA signed pacts with 26 firms to deliver similar projects to rural communities through a N1.952 billion grant.
The REA Managing Director, Ahmad Salihijo Ahmad signed the pact along with the e Acting Head of REA’s Project Management Unit (PMU), Nigerian Electrification Project (NEP), Anita Otubu in Abuja.
The REA boss commended the grantee as he hoped they would implement the projects successfully.
Ahmad in a statement by the developer REA was determined to secure Nigeria’s economic growth because electricity remains a serious issue in need of innovative solutions.
The MD of Emel Solar, Onye Mba Uzoukwu said the process for the grant application was seamless but rigorous, noting that it is great opportunity for the firm to achieve its focus on bridging the electricity gap in Nigeria.
The Marketing Manager of Emel Solar, Olubunmi Olowu who assured of delivering quality project, lauded REA, the World Bank and other parties for the innovative access to electricity financing scheme.
The SHS Component Lead of the Nigerian Electricity Project (NEP) at the World Bank, Ifunanya Nwandu-Dozie said SHS helps millions of underserved Nigerian households and Micro, Small, and Medium Enterprises (MSMEs) access better energy services at lower cost.
The firm said within four years of its existence, it has provided over 280,000 SHS connections with support from the World Bank and the International Finance Corporation (IFC) across 30 states.