DART 3.0 INITIATES, PROVIDING DRE COMPANIES WITH ACCESS TO AFFORDABLE EQUIPMENT AND FINANCING
The launch of the DART program, dedicated to expediting the implementation of renewable energy in Nigeria, has announced the commencement of DART 3.0, featuring a diverse range of equipment and facilities.
This initiative extends opportunities for Distributed Renewable Energy (DRE) companies to procure essential equipment at affordable prices and with attractive financing terms.
Before the introduction of DART in 2022, numerous DRE companies, particularly small and medium-sized enterprises (SMEs), encountered challenges accessing reasonably priced equipment due to their limited negotiation power.
DART addresses this issue by consolidating demand, enabling companies to benefit from economies of scale and acquire equipment at a discounted rate of up to 30%. It also provides working capital financing to support equipment procurement.
Launched in 2022 with an initial program size of $10 million, DART quickly expanded to $25 million due to substantial demand from DRE companies.
DART 2.0 enhanced its impact by widening the program’s scope to address previously overlooked DRE areas. It also collaborated with leading financial institutions to offer more comprehensive financial solutions. Now, DART 3.0 builds on this success with a renewed focus on DRE companies, offering tailored procurement solutions to meet their specific needs.
Caroline Eboumbou, the Chief Executive Officer, expressed excitement about reaching DART 3.0 and emphasized the program’s collaborative nature. She highlighted the significant challenges faced by DRE companies and noted how DART 3.0 aims to make a tangible difference in the lives of Nigerians through collaboration with strong partners.
Henrik Axelsson Lilja, Lead Strategic Initiative at Odyssey, discussed improvements made in response to feedback, streamlining processes, and expediting the procurement process in collaboration with the DART program and All-On.
Fauzia Okediji, the Manager of Utility Innovation at GEAP, expressed excitement about DART’s success and emphasized the need for united multi-sectoral coordination to address gaps in green energy transition.
Ayo Ademilua, the President of the Renewable Energy Association of Nigeria (REAN), assured continued support for the partners and developers.
DRE companies interested in participating in DART 3.0 can visit the Odyssey’s website. The program welcomes applications from companies across various DRE segments, including solar mini-grids, off-grid systems, and clean cooking solutions.
(from the news source; Techeconomy)
