FG, Renewable Energy Company Seal Deal to Boost Solar Power in Nigeria

The Rural Electrification Agency (REA) and Anfani Energy Limited at the weekend signed a Memorandum of Understanding (MoU) to bridge the affordability and accessibility gap for renewable energy solutions in Nigeria.Along with several other firms, the deal is to boost the funding and technological innovation for the implementation of 1,500mw renewable energy projects in the next three years.

Anfani is a renewable energy brokerage platform that tackles affordability of, and access to renewable energy solutions for micro, small, and medium scale enterprises in sub-Saharan Africa.It partners with financial providers and energy suppliers to offer increased affordability to high quality renewable energy solutions while at the same time handling customer acquisitions for these providers.An energy broker for the unbanked and underserved, Anfani’s says its mission is to develop the ecosystem to resolve the clean energy access and financial inclusion challenges in Africa.

Speaking at the event in Abuja, Managing Director of  the private firm, Mr. Ishaq Bolarinwa, said his company was set to bridge the gap of affordability and accessibility for renewable energy solutions.According to him, Anfani’s role in the MoU is the removal of constraints and catalysing financing for the projects.“We bridge the affordability and accessibility gap for renewable energy solutions in Nigeria and sub-Saharan Africa. It is about igniting dreams, empowering communities, and catalysing growth from the ground up. That is what renewable electrification is all about.

 “Regarding the MoU, we are treating it as an opportunity free from constraints. Catalytic financing is one aspect we want to source,” he stated.Bolarinwa said the process and project improvement were vital as the stakeholders  embark on the project, stressing that the firm also focuses on technological innovation.

“Anfani is all about positivity, advantage, benefits and opportunity. And for us as a company, that’s what we tend to strive to do. We’re not just here to sign the documents. This is something bigger. We are here to ignite the beacon of hope for REA and all the change-makers in this room.

“Catalytic financing is one thing that we want to source and process and project improvement is one thing to start a project,” he added.

Also, Head, Nigerian Electrification Project (NEP)  Mr. Olufemi Akinyelure, said the REA developed the Renewable Energy Service Companies (RESCOs) strategy as part of its broader efforts to scale up improved energy access, particularly in underserved and off-grid rural areas.

According to him, the RESCO model plays a crucial role in the deployment and operation of off-grid electrification projects, specifically through public-private partnerships.