Developers are able to enjoy an efficient ordering process, economies of scale and better priced products through the aggregator’s higher bargaining leverage with the suppliers that would ordinarily not be available to them.
The program makes funds available to developers at a relatively cheaper rate compared to what is offered by commercial banks and other financiers.
As the DART equipment facility is denominated in USD, developers have access to the foreign currency required to purchase solar components from foreign suppliers.
The program will enable developers to obtain better payment terms from suppliers.
Eligibility requirements for potential applicants to the Demand Aggregated Renewable Technologies Program:
Companies must be operating in the Nigerian off‐grid energy market; C&I Solar energy project developers, Mini-grid developers, and Small-Scale for Productive Use (SSPU) or Standalone Solar Energy Systems(SES) developers.
Companies must prove that they possess the relevant skills, experience, and track record in deployment of Distributed Renewable Energy solutions in Nigeria or other jurisdictions.
Companies must have been operational for a minimum of two (2) years.
Companies must have achieved Nigeria Electrification Project (or a similar grant) prequalification and possess a finalized grant agreement under the program (except for eligible Commercial and Industrial energy developers).
Companies must provide at least two years audited financial statements.
Eligible Commercial and Industrial project developers must provide credible, sustainable power purchase offtake contracts.
Companies must be in good financial and statutory standing, with no adverse credit history or existing default on credit facilities.
Eligible Companies must show clear policies and adherence with Anti‐Bribery and Corruption, Anti‐Money Laundering, Ethics & Compliance, and tax regulations.
Companies must submit a financial model and well-defined business plan showing a clear growth plan, funding need, plan for use of proceeds and evidence of commercial viability of repayment sources.
Companies must demonstrate ability to complete projects, with funding from other sources, including internal equity or external financing.
Companies must show evidence of clear and sustainable governance frameworks, with procedures, controls, and systems in place to demonstrate effective management and ensure project viability.
Women-owned and / or operated companies and companies with indigenous founders will be given priority.