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All On, a Lagos-based impact investor focused on renewable energy access, has announced a $5 million investment in PowerGen Renewable Energy Nigeria Limited (PowerGen), a developer of solar mini-grid and off-grid power infrastructure.
The capital, structured as a mezzanine facility, will support the development of isolated and interconnected mini-grid projects serving households, commercial and industrial customers in communities with limited or unreliable access to electricity.
The investment is expected to support up to 6,000 new electricity connections and reach an estimated 41,000 beneficiaries across Nigeria, while enabling up to 9 megawatts of generation capacity and a combined energy impact of more than 17 MW+MWh. All On said the projects are also expected to create approximately 470 jobs in the communities and businesses served.
“PowerGen has demonstrated that renewable energy solutions can be efficiently deployed to serve communities and businesses where reliable electricity remains a challenge. This investment reflects our confidence in the company’s ability to build on that experience and take its model further across Nigeria,” said Caroline Eboumbou, Chief Executive Officer of All On.
“For us, it is about backing a proven platform with the capital it needs to expand access to reliable power, while creating the conditions for more businesses and communities to participate in Nigeria’s economic growth,” she added.
Founded in 2011, PowerGen delivers commercial, industrial and off-grid solar energy solutions. The company says it has installed more than 325 renewable energy systems, representing roughly 34 MW+MWh of solar photovoltaic and battery storage capacity, across 12 countries, with operating teams in Nigeria, Kenya, Sierra Leone and the Democratic Republic of Congo.
In Nigeria, its portfolio includes the Toto Community Mini Grid Project in Nasarawa State, which All On describes as the country’s first interconnected hybrid solar mini-grid.
Unreliable grid power remains a major constraint for households and small businesses across Nigeria, forcing many to depend on diesel generators for electricity. PowerGen’s mini-grids are designed to displace diesel dependence with locally generated solar power, serving communities and businesses through standalone systems as well as grids interconnected with the national network.
All On, seeded by Shell and operating as an independent impact investment company, provides funding and non-financial support to businesses working to close Nigeria’s off-grid energy gap, with a particular focus on improving electricity access for households and small and medium enterprises.
Its mission aligns with PowerGen, and the firm made a similar investment in Eja-Ice Nigeria Limited, a manufacturer of solar-powered refrigeration and cold chain solutions. In June 2026. All On had also partnered with Energise Africa to invest $4 million in Maskh to expand solar mini-grid in Nigeria.
The investment effectively completes the Series C capital raise by PowerGen’s parent company, WindGen Power USA Inc., alongside capital from ElectriFI, Impact Fund Denmark, the Sustainable Energy Fund for Africa (SEFA), and InfraCo.
“All On’s investment is a strong endorsement of PowerGen’s platform and our ability to deliver reliable renewable power at scale. Nigeria remains an important market for PowerGen, and this investment will support our continued growth and our mission to expand access to reliable, affordable and clean energy,” said Aaron Cheng, Chief Executive Officer of PowerGen.
The investment will help accelerate the deployment of renewable energy projects across Nigeria, replicate its interconnected mini-grid approach in other parts of the country, and move more projects from development into delivery.
