REA Signs two Grant Agreements for Output-Based Funds
The REA MD/CEO Salihijo Ahmad signed two Grant Agreements under the Output-Based Funds of the Standalone SOlar System component of the Nigeria Electrification Project (NEP), implemented by the Rural Electrification Agency (REA). The beneficiaries of the grants are Emel Solar Solutions Limited and Pas BBOXX Limited.
The REA MD/CEO, congratulated and commended the grantees for scaling through the rigorous process and encouraged them to be good ambassadors of this grant window and testify to the transparent nature of the NEP grant procedures.
The MD/CEO stated that the grant signing event will go a long way to show REA’s determination in making private sector participation very vital in electrifying rural communities.
This fund will provide fixed incentive grants in the range of 20% of the retail cost of the system to the grantees, per each eligible system installed and verified. This support will enable the firms to finance the required investment in people, training, advertising, processes, and logistics inclusive of gender workforce integration and disaggregation as informed by the NEP gender program.
The grantees expressed satisfaction with the entire process and pledged their support in closing the electricity gap through the installation of SHS.