Investment firm All On announces a $1 million investment in Salpha Energy. The Nigerian company distributes solar home systems in rural Nigeria where access to electricity is lowest.
In Nigeria, Salpha Energy is receiving new financial support to accelerate its operations in rural areas. Recently, the Lagos-based company received a $1 million investment from All On, an investment company funded by Anglo-Dutch oil company Shell. The funding will allow the solar kit supplier to expand its range and stock of equipment dedicated to electrification.
According to All On, its investment will also help expand sales channels and customer service infrastructure, and test more flexible pricing models to sustainably manage rural customers in Nigeria’s states. “All On’s contribution will strengthen a highly scalable opportunity by rapidly deploying power assets to homes in Nigeria and facilitate the adoption of a sustainable power payment culture in the Niger Delta and beyond,” the Wiebe Boer-led investment firm says.