Bboxx Energy Access Nigeria signs OBF grant agreement with REA Nigeria

Bboxx Energy Access Nigeria, last week Friday, signed an Output-Based Fund (OBF) grant agreement with the Rural Electrification Agency Nigeria (REA Nigeria), under the Solar Home Systems (SHS) component of the Nigeria Electrification Project (NEP). 
 
By this signing, thousands of SHS units will be deployed by Bboxx Energy Access Nigeria towards transforming the lives of about Nigerians with clean, reliable and affordable electricity.

Speaking at the signing event, Mr. Ernest Akinlola, Managing Director, Bboxx Energy Access Nigeria said, “I am honoured and privileged to represent Bboxx Limited and Bboxx Energy Access Nigeria at the signing of the output-based fund. The $60million fund allows Bboxx Nigeria to receive grants in the form of subsidies for the installation of Solar Homes Systems (SHS) for households and micro, small, and medium enterprises in rural areas as part of Nigeria’s Electrification Project (NEP). With this development, we will significantly advance our commitment to providing sustainable, clean power to 20 million Nigerians in the next ten years.

As part of the qualification process, Bboxx met all the requirements for inclusion into the scheme. This is also a testament to the hard work and effort of the global team at Bboxx Limited, Bboxx Capital, and Bboxx Energy Access Nigeria Limited. I would like to acknowledge the excellent support from the REA and NEP PMU team in helping us achieve our common goal of providing energy access to the most needy.”

Bboxx, a next generation utility tackling the global energy poverty crisis, officially launched in Nigeria in October 2021, provides a much-needed solution to Nigeria’s electrification challenges by expanding access to clean, affordable and reliable Solar Home Systems (SHS). Bboxx operations commenced in April 2021 and has rapidly expanded to Badagry, Ikorodu, Ijebu Ode, Abeokuta, Ogbomosho, and Ibadan and continuing on to Osun, Ekiti and Ondo states. With 45 per cent of Nigerians living without access to electricity, rising to 74 per cent for the rural population, there is a significant opportunity to positively impact the lives of millions through clean energy provision. Supporting rural underserved communities remains a core focus, in addition to low-income families, small business owners and market traders.

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