Port Harcourt — Nigerian off-grid energy investment company, All On, has signed pacts with three firms for accelerated access to affordable and sustainable energy sources in the Niger Delta.
The firm said its target is to provide electricity to over 1,000 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 All On and its partners, Lumos, Cold Hubs and GVE Projects Limited.
The Chief Executive Officer, of All On, Dr. Boer Wiebe, after signing the agreement in Port Harcourt, said, the move demonstrates its belief that energy is indispensable in the improvement of Nigeria's energy narrative, adding that power deserves adequate attention, and financial backing from both the public and private sectors.
Wiebe explained 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 noted that Cold Hubs in the agreement would provide solar power to help preserve perishable products in rural communities.
He 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."
He further regretted that "The DISCOS are under performing. This investment will give more opportunity for individuals and big firms to provide electricity for themselves."
Meanwhile, the Programmes and Investments Manager, All On, Florence Okoli, disclosed that All On was seeded with funding from the Shell Petroleum Development Company, SPDC.
She added: 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 and that is why they gave the seed capital as empowerment for this investment. What we invested in is what the project needs; the investment is significant enough to make the partners scale up."
The Chief Executive Officer, All On, Nnaemeka Ikegwuonu, pointed out that the firms in the agreement would use renewable energy to preserve perishable agricultural produce in markets.
He noted that the investment would meet the needs of Nigerians in the area of food preservation, regretting that preservation was the problem of farmers and traders.