Dr. Wiebe Boer
CEO, All On / Shell
Groundbreaking of All On’s investee company Auxano Solar 100MW Auto Solar Panel Assembling Factory at Ibeju Lekki, Lagos. All On in September 2020 committed to a $1.5 million investment deal with Auxano to scale its operations over the next five years.
What energy solutions have you or your company been working on?
As an impact investing company, All On only invests in clean energy companies whose products and services are focused on closing the access to energy gap in Nigeria, by increasing access to products and services for off-grid communities that are unserved and underserved. This makes our constituency tens of millions of Nigerians with little or no access to grid power.
All On has invested in 30 companies and two off-grid focused funds, representing a diverse group of sub-sectors within the off-grid sector including Solar Home Systems, Solar Energy Systems, mini-grids, cold storage, battery as a service, and component manufacturers. Our portfolio companies are providing affordable clean power to low income households and small businesses across the country and have directly turned lights on in tens of thousands of Nigerian homes and businesses since 2017.
All On is the largest private investor in solar hybrid mini-grids in Nigeria by number of companies invested in, with operational mini-grids in communities like Oloibiri, Bayelsa State, a community not currently connected to the national power grid. The All On financed mini-grid is owned and operated by Renewvia, and currently serves homes, health centers and numerous businesses in Oloibiri, providing critical street lighting that facilitates a night economy and improves security. Feedback received from members of the community, NGOs and government officials continue to confirm the positive human impact of this investment.
All On has either fully or partly funded over 20 other solar hybrid minigrid projects which are either operational or being built across primarily rural and peri-urban communities across Nigeria, thereby impacting lives, growing local economies and creating jobs. All On is also committed to finding and financing high-impact and easy-to-roll-out energy solutions in rural and peri-urban communities in Nigeria. We have invested in technologies which did not even exist in Nigeria three years ago, such as the battery-as-a-service business model.
Why is the High-level Dialogue on Energy important at this time?
Global action to drive the implementation of energy-related goals and targets of the 2030 Agenda for Sustainable Development has come at the right time. Nearly 760 million people still lack access to electricity. Fostering an effective energy transition would create opportunities for energy poor communities to prosper and ultimately close the energy gap. The expected objectives of the dialogue are laudable and will go a long way in accelerating strong commitments globally. All On is excited to be part of this dialogue that sets the agenda for the energy discussions. This opportunity also directly aligns with our mission to accelerate the closing of the energy access gap in Nigeria.
Can you give a preview of what commitments you might include in a potential Energy Compact by your company?
As the largest private clean energy investor in Nigeria, we recognize an opportunity to help drive the energy transition in Africa’s largest country by population and economy. The entire purpose of All On is a long-term commitment to strategically addressing Nigeria’s energy access gap through impact investing, strengthening the enabling environment, and providing technical support to energy access businesses through the All On Hub. This is and will always be our commitment as a company.