A Dutch company specializing in off-grid solar power, Lumos Global BV, plans to light up over 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 Federal government announced last week that it awarded a share of a $75 million World Bank–funded grant to Lumos to support its business as part of efforts to back quick and simple solutions to the country’s energy deficit due to an absent or unreliable electricity grid.
Lumos Chief Executive Officer, Alistair Gordon, 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.”
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.