DART 3.0 Kicks Off, Offering DRE Companies Access to Financing and Affordable Equipment

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    The Demand Aggregation for Renewable Technology, DART, program, an initiative aimed at accelerating the deployment of renewable energy in Nigeria, announced the commencement of the DART 3.0, with its variation of equipment and facility. This 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 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 program 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. Thank you to all our partners and the companies we work with for your feedback, this helps us to ensure that each year gets bigger and better,” she said.

    Speaking at the launch, Lead Strategic Initiative, Odyssey, Henrik Axelsson Lilja said, “At Odyssey, we constantly think about how we can improve our services and offerings. We heard feedback from some companies wanting the processes more streamlined, faster, and simpler. We are happy to announce that we have worked closely with the DART programme and All-On to allow companies to fast track their procurement process, as well as developed partnership agreements with manufacturers and supply chain partners to ensure quick and smooth equipment deliveries. Once your application is approved, Odyssey will handle the equipment ordering and delivery process.”

    The Manager, Utility Innovation, GEAP, Fauzia Okediji said, The Manager, Utility Innovation, GEAP, Fauzia Okediji said, “We are excited to see the success that DART has attained to date. Our collaboration with All On and Odyssey to provide innovative financing solutions for the programme is a demonstration of the need for bold, united multi-sectoral coordination, calling on the strengths of diverse actors to address the gaps that persist in bringing about green energy transition across Africa and charging a new trajectory for a renewable energy future that is just, equitable and enduring. We look forward to continuing working together as we scale this work further, to drive access to energy for more people that need it most.

    Also present at the kick-off was the President, Renewable Energy Association of Nigeria, REAN, Ayo Ademilua who assured the partners and developers of the association’s continued support.

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