Renewable energy firm All On has invested $5 million in PowerGen Renewable Energy Nigeria Limited to support the development of mini-grid projects across Nigeria. The investment was made through a mezzanine investment and aims to serve households, commercial, and industrial customers. According to All On's CEO, Caroline Eboumbou, the investment effectively closes PowerGen's Series C capital raise, alongside contributions from ElectriFI, Impact Fund Denmark, the Sustainable Energy Fund for Africa (SEFA), and InfraCo. PowerGen's experience in Nigeria includes the development of interconnected renewable energy infrastructure, such as the Toto Community Mini Grid Project.
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