Sustainable Energy for All (SEforALL) has recently confirmed the approval of grants for 19 clean energy companies through its Universal Energy Facility (UEF) program. The Stand-Alone Solar for Productive Use (SSPU) initiative will focus on implementing solar battery storage systems in various businesses and institutions throughout Nigeria. Completion of the installations is anticipated by the end of this year. Joseph Nganga, the Interim CEO of GEAPP, expressed that signing the grant agreements is a major advancement towards a sustainable future.
The UEF is empowering clean energy developers to turn their innovative solutions into reality, making a positive impact. The UEF’s work fills Nganga with pride and anticipation for the transformative effect these projects will bring to countless individuals. Consistent and sustainable power sources for residences, small businesses, and organizations have a significant impact on everyday life. With uninterrupted Electricity supply, the use of harmful petrol and diesel generators decreases, leading to a reduction in indoor air Pollution and CO2 emissions. This results in efficient operation of equipment, allowing essential services such as healthcare and Education to operate smoothly.
In generating job opportunities, SSPUs play a vital role.
These improvements not only create economic prospects but also enhance the general Welfare of individuals. In February 2023, the UEF launched the SSPU programme with grants awarded to 10 developers to bring SSPU units to communities lacking access. The expansion since then has resulted in the installation of over 1,600 systems, benefitting more than 1,200 businesses, health centres, and schools. Over the last year, the UEF has made great strides in various African countries, including Nigeria, Benin, the Democratic Republic of the Congo, Madagascar, and Sierra Leone, bringing benefits to thousands of people.
Furthermore, SSPU systems revolutionize the game by delivering consistent electricity, offering a multitude of socio-economic advantages. Businesses have the opportunity to enhance productivity, extend operating hours, and elevate their product standards, resulting in enhanced revenue. Furthermore, SSPUs play a vital role in generating job opportunities through supporting local enterprises that depend on electricity. Shubham Chaudhuri, the World Bank’s Country Director in Nigeria, highlighted the DARES project’s ability to expand access to clean energy for communities and small businesses in Nigeria.
This project aims to support the growth of Small, and Medium Enterprises.
Through innovative financing options like the Universal Energy Facility, this project aims to support the growth of Micro, Small, and Medium Enterprises (MSMEs) that play a vital role in the country’s economy. At the event, participants will have an active conversation about the DARES project, the influence of the UEF, and how results-based financing and Climate Finance can contribute to reaching the SDGs. Ruth Badejo, a Fashion designer at the Ayangburen Market in Lagos, Nigeria, is a testament to the positive impact the UEF has had on business owners. Before becoming a beneficiary, Ruth relied on a petrol generator for her business, facing challenges such as high petrol prices, fuel shortages, and power outages.
Resultantly, these obstacles restricted her working hours and caused her to lose potential clients. One of the clean energy developers from UEF SSPU completely transformed Ruth’s business by installing a 5Kw solar storage system at her shop. Thanks to this system, Ruth now benefits from continuous, clean energy, enabling her to save money, work longer hours without generator issues, and enhance her work efficiency around the clock. Her clients appreciate the dependable power source, allowing them to recharge their devices and relax in a comfortable setting, ultimately enhancing customer loyalty.
Related Article: World Bank Approves $750M for Clean Energy
UEF is a funding program that aims to accelerate energy access in Sub-Saharan Africa and other regions by offering financial rewards to organizations that implement approved energy solutions and connect users to electricity, such as mini-grids and solar systems. This initiative aligns with SDG7 and the Paris Agreement. SEforALL oversees the management of the facility, which is backed by a diverse group of organizations including the Global Energy Alliance, Shell Foundation, The Rockefeller Foundation, Bezos Earth Fund, Africa Minigrid Developers Association, Power Africa, Good Energies, UKaid, Carbon Trust, IKEA Foundation, BMZ, and GIZ.