Abuja, Nigeria – The Rural Electrification Agency (REA) in Nigeria, led by Ahmad Salihijo Ahmad, the MD/CEO of REA, along with Abba Aliyu, Head of the NEP Programme, and Barka Sajou, REA’s Executive Director of Technical Services, has signed grant agreements with Energy Access Companies (EACs) under the African Development Bank (AfDB) component for NEP AfDB Productive Use Appliances & Equipment result-based financing. The objective of these agreements is to activate the market for energy-efficient productive use appliances and equipment.
One of the companies benefitting from this partnership is SolarCool, which provides solar-powered cold chain storage solutions to combat food and vaccine waste in regions with limited access to electricity. By harnessing solar energy, SolarCool contributes to reducing food waste, enhancing food security, and promoting circularity in off-grid environments. The productive use of energy plays a crucial role in the sustainability of off-grid energy infrastructure.
The Results-Based Financing for Productive Appliances & Equipment focuses on promoting the productive use of energy in remote communities by increasing access to efficient electric equipment. This component aims to empower 24,500 Micro, Small, and Medium Enterprises (MSMEs) and provide improved energy services to 1,050,000 individuals through productive use systems.
SolarCool is supported through the energy-efficient productive use subsidy program, which encourages the adoption of affordable appliances for productive use in underserved communities. The program aims to enhance rural productivity, stimulate economic growth, and create employment opportunities. SolarCool has set a vision to deploy 300 smart cold storage facilities in strategic areas across Africa within the next five years, with the primary objective of reducing and preventing food loss and waste in the agricultural value chain.
Ahmad Salihijo Ahmad, the MD/CEO of REA, emphasized the transformative impact of the productive use of energy in previously underserved communities. He highlighted the significance of the Nigeria Electrification Project (NEP) and its collaboration with the African Development Bank Group to catalyze the market for Productive Use Equipment and Appliances in the off-grid renewable energy sector. The signing of grant agreements with major energy access companies represents a significant milestone in this space.
Dr. Chris Edeh of SolarCool signing the AfDB grants in Abuja, NigeriaAhmad encouraged the energy access companies to continue exploring innovative products and solutions while collaborating with the REA to achieve the program’s objectives.
The AFDB country manager also expressed the bank’s commitment to fostering a robust, efficient, and sustainable fintech ecosystem across the continent. Recognizing the importance of energy access, the African Development Bank is accelerating the delivery of its strategic priorities, including access to energy, through various innovative interventions.
With the signing of these grant agreements, the partnership between the REA, the African Development Bank, and the Energy Access Companies sets the stage for the advancement of off-grid, renewable energy solutions, contributing to sustainable development and economic growth in Nigeria.
