Solar-as-a-service provider launches first solar project in Nigeria

ecoligo solar project Nigeria
  • Solar-as-a-service provider ecoligo implements first solar power project in Nigeria
  • 178-kWp plant supplies manufacturing company TLM INVESTMENT LIMITED
  • Private investments enable sustainable and secure power generation in Africa’s largest economy

Berlin/Lagos, July 11, 2022. ecoligo, the solar-as-a-service provider that develops and implements crowd-funded projects in emerging markets, is expanding to Nigeria with a first solar project. For this project, ecoligo equips the Lagos-based manufacturing company TLM INVESTMENT LIMITED with a 178 kWp solar system.

After Ghana, Kenya, Côte d’Ivoire and Uganda, Nigeria is the fifth African market that ecoligo has entered. Africa’s most populous state is considered the continent’s largest economy and offers good climatic conditions for solar. However, large parts of the population and the economy are not yet connected to the grid, often relying on diesel generators for their electricity supply. These generators are not only environmentally harmful, but also prone to breakdowns. Producing their own solar power offers local businesses the opportunity for a low-cost, environmentally friendly and reliable energy supply.

This is exactly where ecoligo comes in. To further exploit the potential for solar energy and enable more Nigerian businesses to use renewables, the solar-as-a-service provider continues to expand its local network in the country. Soon, more solar projects shall follow, driving the country’s energy transition forward.

ecoligo’s impact investors will be able to finance the company’s first solar project in Nigeria in two campaigns. Each campaign will finance about half of the system, with a funding volume of roughly €92,000.

“Switching to solar energy is often associated with major hurdles, especially financial ones, for companies in emerging markets. Typically, financing of prosumer plants by domestic banks encounters difficulties and the technical know-how is also not widely available,” says CEO and co-founder Martin Baart. “That’s why ecoligo is committed to Nigeria to drive solar expansion there through private investment and in cooperation with local EPC partners.”