Off-grid Solar Company Lumos Gets $75 Million Grant from FG to Light a Million Nigerian Homes by 2025
Lumos Global, a Dutch-based off-grid solar power company, has gotten $75 million grant from the Federal government to light up over a million Nigerian households by 2025.
According to the FG, the grant was awarded to support Lumos’ business, as part of efforts to resolve the energy deficit issues in the country.
Alistair Gordon, Lumos Chief Executive Officer, said that the grant is a real help as the market in the country is enormous.
“The market is enormous. Having some assistance with that significant capex outlay and investment through these sorts of grants is a real help.”Alistair Gordon, Lumos Chief Executive Officer
Through a strategic partnership with MTN, Nigeria’s leading telecom operator, Lumos provides and distributes solar equipment and services to Nigerians.
Lumos charges about $60 for the equipment and installation, while customers subscribe about $15 by paying the monthly via MTN to keep the power on.
According to Gordon, the Lumos unit can run home appliances such as lights, fans, mobile phones and televisions.
He added that Lumos has fitted more than 100,000 solar home systems around Nigeria.
With the new influx of funds, Lumos is now planning to light over a million Nigerian homes by 2025. The grant for the off-grid solar systems is part of the $350 million raised by Nigeria from the World Bank to increase electrification rates in rural areas.
However, Lumos 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 partly on generators.
According to Grodon, families spend three or four times more than the $15 per month flat fee Lumos offers for power. With the help of the grant, Lumos can help support business in Nigeria as well as provide fast and simple energy solution to homes.
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