All On Invests $5M in Nigeria's PowerGen for Mini-Grids

All On, a renewable energy firm, has invested $5 million in PowerGen Renewable Energy Nigeria Limited to help bridge the electricity access gap in Nigeria. This investment, made through a mezzanine investment, will support the development of isolated and interconnected mini-grid projects for households, commercial, and industrial customers across the country.

Caroline Eboumbou, CEO of All On, stated that this funding closes the Series C capital raise by PowerGen’s parent company, WindGen Power USA Inc., along with contributions from ElectriFI, Impact Fund Denmark, Sustainable Energy Fund for Africa, and InfraCo. PowerGen has developed interconnected renewable energy infrastructure, including Nigeria’s first interconnected hybrid solar mini-grid at the Toto Community Mini Grid Project in Nasarawa State.

The investment is expected to facilitate up to 6,000 electricity connections, reaching around 41,000 beneficiaries, with a generation capacity of up to 9 MW and a combined energy impact of 17 MW + MWh. Aaron Cheng, CEO of PowerGen, emphasized the importance of this investment in supporting reliable electricity access in underserved communities.