“My Favorite Part of the Job? Bringing Customers’ Dreams to Life with Electricity.”
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Nicole Poindexter founded Energicity in 2015 to solve the problem of bringing sustainable electricity to unserved rural communities in Africa. She spoke to EnergyNet about her latest projects in Liberia, the power of partnerships – and why it’s critical to bring Africa to the United States.
You have just commissioned two mini-grids in Liberia – congratulations and please tell us more (especially about the firsts!)
We are super excited to have commissioned two mini-grids in Totoquelleh and Farwenta, Gbarpolu County.
Liberia is a new market for us, and these are the first private-sector-led renewable energy mini-grids under the country’s new regulatory framework.
With Liberia being one of the first countries to establish a National Energy Compact under Mission 300, it's exciting for us and for them to start delivering on this so quickly.
It is also a first as they've never had electricity in this part of Liberia.
This is probably the favorite part of my job – listening to customers' dreams and then watching them come to life with electricity.
One of our customers used to spend 31,000 LRD (about 150 USD) each month to run his bar using a generator and solar home system. Now, he will pay just a fraction of that, cutting his monthly energy costs by 90% and significantly increasing his profits.
Others have spoken about starting businesses, children being able to study, and the potential improvements in healthcare.
Ultimately, this milestone represents a transformative impact on people's lives.
What makes a successful partnership?
That’s an interesting question. We are very focused on building partnerships, particularly with governments. In Liberia, we have a 20-year contract with the government to provide electricity, and we invest a lot of effort into developing strong partnerships – not just with the government but also with the local community.
Good partnerships require active listening and a deep understanding of people’s needs. At the same time, you must be able to express your own needs, be prepared to compromise when possible, and, when compromise isn’t an option, clearly communicate why.
In this case, our partnership also included the Beyond the Grid Foundation, which is supported by the Swedish embassy in Liberia.
A successful partnership is built on mission alignment and clear, consistent communication. Everyone involved shared a common goal: expanding electricity access to as many people as possible.
The government was still in the process of defining its regulations when we started the process.
This was also one of the first implementations of Liberia’s land reform law, which required us to work closely with the communities.
We established community groups with equal representation of men and women to agree on the land use and to be sure that the project would benefit the community.
It was a great process, but since it had never been done before, it took time.
That leads me to another key ingredient of a successful partnership: commitment. There may be setbacks – but true partnership means having the persistence to push forward and keep going.
How has Mission 300 impacted your work?
Mission 300 is new and evolving, and we are all in the process of fully understanding its scope.
And the important thing in our industry is that we continue to innovate in order to solve the long-standing challenge of energy access.
Mission 300 will require ongoing innovation, but it is already shaping the way governments define their energy access goals and plans.
The first step of Mission 300 involved governments developing compacts that outlined their energy access targets and high-level plans.
To illustrate the impact, when I first started in Liberia, a study conducted by one group identified 4,000 mini-grid connections across the entire country. The communities listed were very small and unlikely to be successful candidates for mini-grids.
This didn’t pass my smell test, so I disregarded it, and we went ahead anyway.
Now, under Mission 300, the government has conducted a far more extensive study of the energy landscape.
The new data shows a significantly higher demand, with an estimated 15,000 new mini-grid connections required per year for the next five years – totaling 75,000 households, businesses, and families that need electricity.
This level of planning creates a dramatically different outcome and makes it much easier to invest. It improves alignment between stakeholders and shows that the market opportunity is actually large enough to meet investor requirements.
This is going to open up the market for investment.
We’re also very excited about Zafiri, the investment company launched by the World Bank Group and the African Development Bank Group.
Creating viable environments for private capital investment is essential, and initiatives like Zafiri play a crucial role in making this market more attractive.
Supporting private-sector investment is a really worthwhile mission and critical to achieving the energy access goal.
Last year, you were looking to raise up to $30 million for West Africa solar expansion – did you succeed?
We are currently in year one of a two-year fundraising process, so not yet – but we are hopeful and have received some very positive market feedback
One of the challenges we face is that the pool of potential investors is quite small.
There are a handful of funds, many of which are DFI backed, while others focus on sustainability. However, when it comes to investing in energy access in Africa – specifically mini-grids – there are only a handful of active investors.
Part of the challenge is that mini-grids are a unique hybrid of capital investment and operational investment, which doesn’t fit neatly into traditional investment categories.
Investors often struggle to classify us – are we an infrastructure investment or a venture investment? Plus, there’s the broader issue of misperceived risk when it comes to investing in the continent.
I genuinely believe that if anyone actually cares about climate, they really need to be thinking about investing in Africa.
To help address this challenge, I organized an event during New York Climate Week in 2023 and 2024 to try to bridge the gap between Africa and the U.S. investment market.
Right now, most funds overlook investment opportunities in Africa, and we want to change that.
What do you see as the importance of this summit for Africa?
It’s critical that we bring Africa to the United States.
There are conferences on the African continent for those who already know they want to invest in Africa.
The real challenge is reaching those who may not yet realize the opportunities. This is where PAS25 comes in.
This is the premier event in North America for discussions on investing in African energy assets. That alone makes it critical.
But beyond that, with the change in U.S. Administration, this is a unique opportunity to tell the story of why investing in Africa and Africa’s infrastructure is such a significant opportunity for American investors.
The fact that the U.S. Secretary of Energy will be attending is fantastic.
What conversations are you are most looking forward to having at PAS?
A conversation with Chris Wright would be one – although I may not have the opportunity.
The administration’s initial moves might suggest that Africa is, at best, an afterthought. As demonstrated by my own life, I think that’s a mistaken perception.
The opportunity in Africa is tremendous, and the risks of not investing – and not investing responsibly – are equally significant.
Talking with the administration on how to engage effectively would be a really exciting and important discussion to have.
I’m certainly looking forward to speaking with investors.
Plus, one of the great aspects of EnergyNet conferences is the number of policymakers attending from African countries.
This is a really exciting opportunity too.
Nicole Poindexter will be speaking in two sessions at PAS25: The Game of RISK!, and Investment Requirements & Regulatory Reforms
in West Africa's Electricity Sector.