Government awarded part of a $75m World Bank grant to Lumos Global as part of effort to back quick and simple solutions to energy deficitLumos Global, a Dutch company specialising in off-grid solar power, plans to light up more than a million Nigerian households by 2025 as it expands in Africa’s most populous country of more than 200-million where only 60% have access to electricity.
“The market is enormous,” Lumos CEO Alistair Gordon said of Nigeria’s fast-growing population. “Having some assistance with that significant capex outlay and investment through these sorts of grants is a real help.” The Amsterdam-based company isn’t targeting only rural areas that are not served by the electricity grid but also towns and cities where power outages are frequent and households rely, at least partly, on generators. Lumos’s offering of solar panels and a battery enables families to spend a flat fee of about $15 per month rather than three or four times as much on kerosene or diesel, Gordon said. The company expects to sign up more than a million households by the middle of next decade, he said.
The grant for standalone systems is part of $350m raised by Nigeria from the World Bank to increase electrification rates in rural areas. The largest portion of $150m is dedicated to developing solar mini-grids.
And how Lewis Hamilton ending the season is related to a dutch solar company powering up Nigerian households
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