The Mini-Grid Business

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Nigeria shows what happens when mini-grids move from pilot projects to infrastructure policy. With over 200 million people and a vast rural electrification gap, the country has built one of the most mature regulatory and financing ecosystems for decentralized power in Africa—and a living laboratory of what works and what breaks at scale.

In this episode, Nico is joined by Joanis Holzigel (COO, INENSUS) and Hannah Kabir (CEO, Creeds Energy) to unpack the success factors and challenges the Nigerian mini-grid sector faced on its path to scale. 

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The INENSUS team introduces ELECTR!FY, a real-data simulation game that allows players to run a virtual mini-grid company and experience the real-world trade-offs operators face every day. Stepping into the role of a mini-grid CEO, players navigate decisions around tariffs, site selection, staffing, digitisation, and financing—balancing profitability with customer satisfaction.

The episode explores how ELECTR!FY addresses talent gaps in the sector, challenges common misconceptions among policymakers and investors, and provides a hands-on learning tool for entrepreneurs, regulators, financiers, and mini-grid companies alike. By modeling real factors such as...

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When TAMARSO’s founder returned to Somalia after the end of the war, he knew exactly where to focus: solar minigrids.

A countdown to ten. Then a village lights up—and everything changes. Children study after dark. Fishers navigate safely at night. Refrigerators keep goods cold.

That moment captures the heart of TAMARSO’s story: a Somali minigrid company transforming sunshine into reliable, affordable electricity—and reshaping everyday life, one village at a time.

Tamarso | Clean Energy for Somalia

Minigrid Development in Africa - AMDA | Africa Minigrid...

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Sierra Leone has been one of the early large minigrid roll outs in Africa. A great success and milestone for the sector with a lot of learnings. 

Tariffs fell, demand jumped, and batteries died faster—that’s the uncomfortable arc of many rural mini-grids in Sierra Leone. 

We sit down with Dipta Majumder of INENSUS and Momori Kamara of MIK Energy to unpack how a pioneering regulatory framework, ambitious rollout programs, and political pressure on prices created both progress and pain. From RREP’s health-focused Work Package 1 to larger Work Package...

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Sigmar Gabriel — former Vice Chancellor of Germany, former Federal Minister for Foreign Affairs, and former Federal Minister for Economic Affairs and Energy, as well as former Federal Minister for the Environment, Nature Conservation and Nuclear Safety — joins us to discuss how Europe sees Africa’s development, its energy transition, and the geopolitical forces shaping both.

We explore how a shifting global order intersects with energy policy, why Europe often finds itself on the sidelines, and where decentralized renewables could enable African countries to industrialize on their own terms. Gabriel provides a pragmatic view o...

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Sigmar Gabriel — ehemaliger Vizekanzler der Bundesrepublik Deutschland, ehemaliger Bundesaußenminister sowie früherer Bundesminister für Wirtschaft und Energie und Bundesminister für Umwelt, Naturschutz und Reaktorsicherheit — spricht mit Nico Peterschmidt darüber, wie Europa auf Afrikas Entwicklung und Energiewende blickt und welche geopolitischen Kräfte beide prägen. 

Wir sprechen mit Sigmar Gabriel, darüber, wie eine fragmentierte Weltordnung mit dem dringenden Bedarf kollidiert, Afrika zu elektrifizieren und die Energie-Resilienz wieder aufzubauen. Die Nachkriegsordnung verblasst, die Vereinigten Staaten verengen ihren Fokus, und der Globale Süden tritt selbstbewusst auf die Bühne. Inmitten d...

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What if electricity didn’t stop at lighting a room but kick-started a local economy? We head to Nigeria to unpack CEESOLAR’s journey from a bold 2017 idea to a working blueprint for mini-grids that power livelihoods—milling grain, cooling goods, charging e-tricycles, and teaching digital skills in a rural computer lab. The result is a simple but radical mindset shift: energy is not the goal; income and opportunity are.

We walk through the hard realities of building mini-grids—patient capital, long payback cycles, and rough logistics—and how a USAID win funded a 2...

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Bas Hetterscheid from Wageningen University and Nico discuss Cold Chains in Africa and the role minigrids can play in their development. 

The growing urban middle class in many African countries is demanding more fresh products, which may not be available close to the cities. Cold chains are required to make sure the products arrive at the market in good condition. Traders and processers of food products will soon look out for opportunities to source these products from slightly more rural areas. Where minigrid companies align their electrification activities with these plans from t...

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Unlock the hidden complexities of mini-grid company valuation with the brilliant minds of Brian Lukera Wambani from Camco and Michael Feldner from the GET.invest Finance Catalyst. This episode promises to equip you with the nuanced understanding required to navigate the valuation challenges faced by mini-grid enterprises, which operate at the crossroads of traditional utilities and agile startups. We tackle the pivotal questions: How do investors perceive the value of these companies, and what factors should CEOs and CFOs weigh when determining their company's worth?

LinkedIn: https://www.linkedin.com/company/inensus-gmbh...

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In this episode, Benjamin Curnier from AfDB’s Sustainable Energy Fund for Africa (SEFA) breaks down AMAP 2.0—what it is, who it’s designed for, and how it works. If you’re a minigrid company looking to tap into technical assistance funding, this conversation offers the perfect starting point.

👉 Access the AMAP 2.0 guidelines and application documents here: AMAP — Sustainable Energy Fund for Africa

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Join us for a special episode featuring Nico’s State of the Sector address, delivered in Nairobi during INENSUS’ 20th anniversary celebration in September 2025. In this keynote, Nico reflects on two decades of impact, explores today’s challenges and opportunities, and shares a forward-looking vision for the future of the sector. 

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Results-Based Financing (RBF) is now the go-to model for mini-grid subsidy disbursement—but there’s a catch: the money only comes after the connections are in place. That means developers have to front the $400–800 per connection cost for construction and equipment, creating a serious funding gap.

In this episode, we chat with Fernando Valda from Energise Africa and Piyush Mathur from Odyssey Energy Solutions about how they’re solving this problem in creative ways. Odyssey links procurement with trade finance to unlock working capital, while Energise Africa taps into UK...

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What's the best way to house a mini-grid system in remote areas? Should developers opt for the plug-and-play convenience of containerized solutions, the flexible modularity of prefabricated structures, or the permanence of traditional powerhouses? This question lies at the heart of scaling sustainable energy access to millions without electricity.

Recorded live at the Energy Access Investment Forum 2025 in Kampala, this episode brings together Julie Roberts from SustainSolar and Abishek Bharadwaj from Equatorial Power for an illuminating debate on mini-grid infrastructure. Julie champions containerized systems where all components are pre-integrated and tested before...

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Minigrids need scale to become profitable — and mergers & acquisitions (M&A) can be a powerful way to get there fast. But what does it really take to acquire or merge with another mini-grid company? How do you structure a deal that works?

In this episode, host Kellie Murungi (INENSUS) sits down with Matthew Orosz (OnePower) and Prosper Magali (Ensol), who share firsthand insights from their recent M&A experience. Together, they unpack the challenges, breakthroughs, and practical lessons from the deal-making process.

We also hear from legal expert Cynthia Opakas (Gr...

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Join Kellie, Diego, and Nico from INENSUS' management as they peer into the future of the mini-grid sector for 2025 and beyond. If you're still shaping your strategy for the year, this episode could offer valuable insights to guide your planning.

Disclaimer: Projections discussed are speculative, and INENSUS assumes no liability for their accuracy.

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In recent years, DC mesh grids have gained recognition as a cost-effective and safe low-voltage solution for rural electrification, particularly for residential customers and small shops with power needs below 3-5 kW. In this episode, host Nico dives into the advantages and challenges of this emerging technology and the business models it enables. Joining the conversation are Afnan Hannan of OKRA Solar and Felix Boldt of Solarworx, two leading innovators in mesh grid solutions.

The discussion explores how mini-grid and solar home system companies are deploying DC mesh grids, examining how these...

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Migration remains a pressing issue in Europe and the United States, often spurred by conflict but increasingly influenced by climate change as a root cause. In this episode, Nico Peterschmidt and Jakob Schmidt-Reindahl from INENSUS explore how rural electrification and industrialization in Africa can strengthen resilience against climate impacts, potentially reducing migration pressures on Europe in the future. They delve into actionable steps for implementing large-scale rural industrialization and why the moment to act is now. 

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Community-owned electric cooperatives transformed rural electrification in the USA, raising access from 10% to 90% in just 15 years starting in the late 1930s. This successful model has since been replicated in regions like South America and countries such as the Philippines and Bangladesh. In Africa, this movement is now beginning to take shape. In this episode, Doreen Chipika Bwalya and Frank Bergh from NRECA International discuss how electric cooperatives - rooted in member ownership and democratic governance - offer inclusive energy solutions while keeping electricity costs low. They also compare these community-driven models with investor-owned alternatives...

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Minigrid scale-up efforts are currently falling short of meeting SDG 7 targets, particularly in Africa, where private minigrid companies must evolve and professionalize to achieve sustainable growth. With limited capital available for building the next generation of top-tier utilities, the sector faces a significant corporate financing gap. At the same time project finance tailored to minigrid needs remains scarce.

In this episode, we delve into the complexities of minigrid financing with experts Cliff Aron from GreenMax Capital and John Ouko from the Africa Minigrid Developers Association (AMDA). We explore the historical challenges of...

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Project finance has been instrumental in scaling large, grid-connected renewable energy projects, with well-established approaches that have facilitated trillions of dollars in lending to the sector. The result has been access to low-interest, long-term financing. This is exactly what mini-grids need to achieve similar success and growth. Like large-scale renewable power systems, mini-grids are critical infrastructure, yet they face unique challenges, particularly the risk associated with selling power at the retail level. Additionally, mini-grids differ from large-scale renewable projects in their stakeholder structures.

In this episode, Kellie Murungi, Head of Business Africa...

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Mini-Grid CEOs have long voiced concerns over the inconsistent and overly complicated funding methodologies that vary significantly across different funders and countries, leading to prolonged delays in electrification efforts. Similar frustrations are echoed in the processes of securing equity and debt.

Host Nico is joined by Kyle Schutter from Sunlight Reviews and Ashish Shrestha from the World Bank’s ESMAP to discuss these challenges. Kyle shares insights on how Sunlight Reviews is helping stakeholders better assess funder reliability and timelines, while Ashish explains how ESMAP is responding to industry feedback to improve pr...

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Interconnected Mini-Grids provide reliable electricity to underserved main-grid connected customers.
They are a new phenomenon in the mini-grid space and beyond that provide profitable investment opportunities to mini-grid companies thanks to significantly larger electricity demand in semi-urban areas, where interconnected mini-grids are typically situated compared to rural sites, where isolated mini-grids can typically be found.
Can interconnected mini-grids become the "leapfrogging" opportunity that the sector has been waiting for?
Aaron Cheng from Power Gen, operating an interconnected mini-grid in Nigeria and Chris Greacen who published a book covering the interconnected mini-grid...

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In this flagship episode, we uncover the transformative power of Rural Industrialization through mini-grids with insights from industry leaders Peter Nyeko of Mandulis Energy (Uganda), Camille André-Bataille of Anka (Madagascar), and Oluwatobi Soyombo of Havenhill Synergy Limited (Nigeria). The host Nico Peterschmidt of INENSUS (Tanzania, Uganda) contributes with his own experience in Rural Industrialization.

We discuss
- effort vs. profitability.
- risk increase vs. decrease through linking two businesses to each other while diversifying revenue streams.
- combining rural development with company profitability
- how to scale e...

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This is part 2 of the meeting between Olu from "The Energy Talk" and Nico from "The Mini-Grid Business". In this session, we delve into the complexities, breakthroughs and innovations within the mini-grid industry based on Olu’s extensive knowledge of the electrification landscape across Africa.

Below are some links to "The Energy Talk" -  listen to these highly informative and entertaining interviews!

https://podcasts.apple.com/us/podcast/the-energy-talk/id1467655589

https://open.spotify.com/show/4FQMxAZ43y6QIs5UtIHHfg

https://theenergytalk.simplecast.com/episodes

L...

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As a podcaster, you meet people and gain a good overview of what the sector is all about. Therefore, it is sometimes enlightening to talk to fellow podcasters and get their view on the sector. That is exactly what Olubunmi Olajide from the podcast "The Energy Talk" and Nico Peterschmidt from "The Mini-Grid Business" did during the Energy Access Investment Forum 2024 in Lagos.

This is part 1 of this recording, where Olu interviews Nico for his podcast "The Energy Talk".  As a listener of "The Mini-Grid Business," this might be more of a...

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Mini-grid consultants support the establishment of regulation or grant funding programs for the sector, advise on transactions or conduct due diligences. However, recent years have seen growing tensions between consultants and mini-grid companies. 
 
Host Nico confronts consultants Moses Kakooza (independent consultant, Uganda) and Maylis Bravard (INENSUS, francophone team) with some of the frustrations mini-grid companies express. 

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Mini-Grid Due Diligences are always complex and costly? - Wrong!

The Mini-Grid Due Diligence One-Stop-Shop established by INENSUS, DETAIL Solicitors and Steinbeis Consulting Impact Investing reduces complexities by providing one contact point for all parts of a mini-grid due diligence (demand, technical, commercial, legal, environmental, etc.). Efficiency and quality gains from this coordinated approach to mini-grid due diligences are the result and may even unlock financing for portfolios of projects that have so far been too small to run through a financing process.

Listen to the commercial lawyer Dolapo Kukoyi...

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In this episode, Aaron Leopold and Edwin Kwesiga from EnerGrow discuss the impact of introducing productive electricity in rural areas. The conversation covers the challenges and strategies of providing asset financing in rural small businesses in Africa, particularly for entrepreneurs and individuals with modest incomes.

EnerGrow's approach, which combines technology with financial literacy, aims to improve accessibility and foster sustainable economic growth. The guests discuss building relationships with energy providers and the importance of scalability.

The future of rural economies, with a focus on electric cooking and e-mobility, is also...

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Learn from Lynne Wesonga of Crossboundary Access and Gillian-Alexandre Huart from ENGIE Energy Access about the untapped potential of integrating mini-grids, solar home systems and other power supply technologies under one unified management and financing structure. This innovative approach aims to harvest synergies, reduce costs, and improve profitability, thereby attracting new capital flows from climate financing and large-scale impact financiers.

For this integrated approach to rural electrification to materialize, there is a clear need for adaptability in policy frameworks and tender designs. Governments and grant providers must consider these factors in the...

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Explore with us Renewable Energy Certificates (RECs), a potentially lucrative revenue stream for operators of renewable mini-grids. We delve into the various forms of RECs, including I-RECs, P-RECs, D-RECs, and R-RECs, breaking down their characteristics, differences, and unique features.

Our expert guests Linda Wamune (P-RECs), Stuti Dubey (D-RECs) and Nicholas Selby (R-RECs) provide valuable insights into the appropriate contexts for using each type of REC and discuss which are the easiest to manage and which ones are best integrated into the marketplace. Additionally, we examine which RECs offer the highest potential revenues...

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Embark on a journey to the heart of Africa's energy business, where the intricate dance of numbers in financial modeling for mini-grids is demystified. This episode brings the expertise of Kellie Murungi and Diego Perez to the table, guiding listeners through the numerical narrative that underpins the viability and strategic direction of renewable mini-grid initiatives. Uncover how these models serve as a compass, pointing towards the most promising project locations, robust implementation plans, and astute pricing tactics, ensuring that the light of sustainable energy continues to spread across the continent.

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In this episode, my guests Penny-Jane Cooke and Brian Kawuma from Power for All, Abraham Mudasia from AMDA, and William Brent from Husk Power, unravel the intricacies of establishing professional campaigns and advocacy to amplify the mini-grid sector's voice among policymakers, funders, financiers, and investors. We explore the synergies between marketing and advocacy, underscore the importance of backing mini-grid proponents within government ministries and regulatory bodies, and deliberate on potential sources of funding for these crucial activities. Finally, we discuss what effective messaging and appropriate communication channels might entail, aiming to craft strategies that...

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Join us as we explore the future of solar mini-grid technology with INENSUS experts Dipta Majumder and Mike Arasa Ratemo. This episode illuminates the advancements in solar mini-grids, highlighting the shift from diesel generators to more eco-friendly solutions. We delve into component market price trends, the emergence of sodium-ion batteries, and the increasing influence of Chinese inverters, all pivotal in shaping the scalability and design of mini-grid systems.
 
 Dipta, Mike and host Nico provide a deep dive into solar mini-grid technology, discussing everything from the technical aspects of battery systems to designing di...

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The complexity of the mini-grid business stands at the forefront of Tobias Engelmeier from VIDA and Emily McAteer from Odyssey Energy's discussion, hosted by Nico Peterschmidt from INENSUS / MicroPower Manager Open Source. They explore how software can be a pivotal tool in managing the multifaceted challenges of this sector. Emily particularly highlights that the trajectory of mini-grid software development doesn't deviate significantly from patterns observed in other industries. Typically, individual companies start by developing their own bespoke solutions. However, as the industry matures, enterprise software becomes more prevalent, offering enhanced services at a...

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Every mini-grid construction is a high-stakes adventure, where the unexpected lurks at every turn. In this gripping podcast episode, my guests Chris Rollins and Davide Ceretti, take listeners on a thrilling journey into the heart of constructing solar mini-grids in Africa's most remote and challenging terrains. They reveal the daunting obstacles they face, from navigating harsh landscapes without proper machinery to the unpredictability of transportation. They present solutions to some of the largest challenges in mini-grid logistics and construction.

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Explore the African mini-grid sector's pivotal moments in 2023 in this year-end episode. Join Joanis Holzigel, COO of INENSUS, and host Nico Peterschmidt as they reflect on the year's significant developments in mini-grids. Tune in for insights and see you in 2024!

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Here is PART 2 of "Where to go next – Which countries are at the top of the funders’ list?". Enjoy!

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Ever wondered how mini-grid grant funders think, decide and act?

In this insightful episode, we're thrilled to host a panel of experts from the forefront of funding Africa's mini-grid sector. Join us as Benjamin Curnier from AFDB SEFA, Tatia Lemondzhava from World Bank ESMAP, and Dennis Nderitu from GEAPP delve into the mechanics of driving mini-grid initiatives across Africa. They'll illuminate the strategic differences in funding pivotal projects by major institutions and the critical role of client governments in these endeavors. This is PART 1 of the discussion. PART 2 will be published one...

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In this enlightening episode, join Jakob Schmidt-Reindahl and Nico Peterschmidt, co-founders of INENSUS and pioneers in the mini-grid domain, as they guide us through the evolution of third-generation mini-grids since the early 2000s. They delve into the significant developments in mini-grid policies, technological advancements, and funding over the past two decades.

Our speakers highlight the transformative journey of the mini-grid sector, transitioning from being driven primarily by NGOs, cooperatives, and development cooperation to a domain where the private sector assumes a pivotal role as mini-grid operators. They fondly revisit the inception of...

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In this episode, we're graced by the presence of Anita Otubu from SE4All's Universal Energy Facility and Lamide Niyi-Afuye from the Africa Mini-Grid Developers Association. They offer a rich dialogue on the intricacies of the Universal Energy Facility, the dynamics of performance-based grants, and the strategy behind minimum subsidy tenders.

Our exploration digs into the core of RBF schemes, weighing the pros and cons of uniform vs. personalized strategies within the mini-grid sphere. With precision, our guests unravel the convolutions of these funding mechanisms and the formidable task of mini-grid upscaling...