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All On Announces Mezzanine Investment in PowerGen Nigeria

lite News Desk 1 min read

At a glance

  • All On invested in PowerGen Renewable Energy Nigeria Limited.
  • The investment was announced on 14 September 2026 in Lagos.
  • Up to 6,000 new electricity connections are expected.

All On Partnerships for Energy Access announced a mezzanine investment in PowerGen Renewable Energy Nigeria Limited on 14 September 2026 in Lagos, Nigeria. The development is part of efforts to expand electricity access in the country through renewable energy projects.

The investment is expected to support the creation of up to 6,000 new electricity connections in Nigeria. According to All On, the projects are projected to benefit an estimated 41,000 individuals across various communities.

PowerGen operates renewable energy and distribution utility projects in Nigeria and other African countries. The company’s experience in Nigeria includes the Toto Community Mini-Grid Project in Nasarawa State, which is recognized as the country’s first interconnected hybrid solar mini-grid.

All On was established with support from Shell to encourage the growth of Nigeria’s off-grid energy sector. The organization aims to facilitate access to reliable and sustainable electricity in underserved areas.

What the numbers show

  • The projects are expected to deliver up to 9 MW of generation capacity.
  • Combined energy impact is projected at over 17 MW+ MWh.
  • Approximately 470 jobs are expected to be created.

Delphos served as the exclusive financial advisor to PowerGen for this transaction. The firm supported the structuring, negotiation, and execution of the investment deal.

The investment is designed to enhance electricity infrastructure and provide new connections for households and businesses. The anticipated job creation is expected to benefit communities served by PowerGen’s projects.

PowerGen’s operations in Nigeria and other African countries focus on renewable energy solutions. The company’s projects aim to address electricity access gaps and support local economic activity through improved energy supply.

* This article is based on publicly available information at the time of writing.

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