Nigeria’s Solar Energy Startup, Salpha Energy, lands US$1mn Investment
All On, a Shell-backed impact investing company, has announced a $1mn investment in Salpha Energy Nigeria to help the company develop its solar home systems distribution business in rural and peri-urban areas across Nigeria, including the Niger Delta.
The funds will be used to expand its inventory and product line, expand its sales channels and customer support infrastructure, and develop more flexible pricing structures to better manage rural clients in Nigeria’s states, particularly the Niger Delta.
Read also: GFA to become outreach partners for the Rise up Summit ’21
“We are very excited about this support from All On which is an indication of their growing confidence in our vision,” said Salpha Founder/CEO Sandra Chukwudozie. “This additional support will allow us to deliver on our strategy to provide products for customers across the range of their developing energy needs.”
“We are thrilled about this investment which is the continuation of a journey and would provide Salpha inventory needed to supply its expanding network of distributors and a platform to cement its competitive advantage and respond to growing market demand for Solar Home Systems,” said All On Senior Investment Associate, Goziem Okubor. “It’s also an opportunity to support young indigenous female entrepreneurs in building an exciting and fast-growing solar business.”
In addition, Salpha will receive a $50k investment as one of the winners of the USADF/All On Off Grid Energy Challenge in 2020. The monies were utilized to test Pay-As-You-Go contracts for Niger Delta clients.
By quickly deploying power assets to families in Nigeria and facilitating the development of a sustainable power service payment culture in the Niger Delta and beyond, All On’s contribution would boost a highly scalable opportunity.
All On, an independent impact investing firm founded with Shell money, collaborates with partners to expand access to commercial energy products and services for Nigeria’s unserved and underserved off-grid energy markets, with a particular focus on the Niger Delta. All On invests in off-grid energy alternatives such as solar, wind, hydro, biomass, and gas, which are deployed by both international and domestic access-to-energy companies in Nigeria to supplement available grid power and assist close the country’s substantial energy gap.
What You Need To Know About Salpha Energy
Founded in 2017, Salpha has a nationwide distributor network of over 350 individuals, cooperatives, and traders, as well as strategic alliances with payment collection enablers like InfiBranches, Paga, and Interswitch.
Read the original article here
