By Sebastine Obasi

Nigeria’s quest for renewable energy as a means of boosting the country’s energy supply received a boost as demand aggregation for renewable technology, DART 3.0, programme takes off.

An initiative aimed at accelerating the deployment of renewable energy in Nigeria, with its variation of equipment and facility, the programme offers expanded opportunities for distributed renewable energy (DRE) companies to acquire essential equipment at affordable prices and with attractive financing terms.

Prior to the initial launch of DART in 2022, many DRE companies, particularly small and medium-sized enterprises (SMEs), faced challenges accessing affordable equipment due to their limited negotiation power. DART addresses this by aggregating demand, allowing companies to benefit from economies of scale and secure equipment at a discounted rate of up to 30%, and providing working capital financing to support equipment.

Launched in 2022 with an initial programme size of $10 million, DART quickly expanded to $25 million due to the significant demand witnessed from DRE companies. DART 2.0 further amplified its impact by expanding the scope of the program to address DRE areas not previously captured and partnering with leading financial institutions to offer even more comprehensive financial solutions. Now, DART 3.0 builds on this success with a renewed focus on DRE companies, offering them additional procurement solutions tailored to their specific needs.

“We are thrilled to have reached DART 3.0 which builds upon the program’s incredible success in accelerating the deployment of renewable energy in Nigeria,” said Chief Executive Officer, Caroline Eboumbou. “The challenges faced by DRE companies in accessing equipment and financing are significant, but DART 3.0 demonstrates the power of collaboration. Through this program, we are working together with strong partners to unlock the potential of renewable energy and make a real difference in the lives of Nigerians.