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 (community mini grid developers, C&I energy project developers and standalone energy systems 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 achieved a minimum revenue threshold of $0.5 million in historical cumulative revenue over the previous five years.
Companies must be able to demonstrate facilitation of a minimum of 500 historical connections or cumulative deployed capacity of 500kw over the last five years.
Companies must have achieved Nigeria Electrification Project prequalification and possess an approved minigrid portfolio under the program (with the exception of 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 show evidence of clear and sustainable governance frameworks, with procedures, controls and systems in place to demonstrate effective management and ensure project viability.
Companies must demonstrate an understanding of risks (political, economic, environmental, social, technology, reputation, health and safety) and the ability to mitigate these risks in a cost‐effective manner.
Women-owned and / or operated companies and companies with indigenous founders will be given priority.