Lumos, Africa’s solar home system provider, has announced new financing from U.S. International Development Finance Corporation (DFC) to expand its existing market for reliable, accessible and clean solar power in Nigeria. The new financing will enable Lumos to produce an additional 160,000 solar home systems (SHS) to meet ever-increasing demand from homes and businesses across the country where it already has a majority of the market share.
Currently, over 160 million people in Nigeria have poor or no access to the electricity grid. Africa Business Community reports that hundreds of thousands of new Lumos solar home systems will enable close to a million people to switch to reliable, clean energy, contributing to economic growth and sustainable development in the country.
This is aligned with the Nigerian government’s plans announced in June to connect five million households to solar power. Alistair Gordon, Group CEO, Lumos, said: “This funding from DFC will enable people throughout Nigeria to seize the opportunities that come with access to reliable and affordable power…
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