Nigeria - Business creation project

Describe your project or startup in a few words

Terawatt installs solar assets for businesses and manages their efficiency using software.

01.01 Describe your project in more detail

Terawatt is a renewable energy service provider. We are building the technology to install, manage and optimize lifecycle performance of solar assets for businesses (commercial & industrial) in Nigeria. Our mission is eponymous, to unlock 1 terawatt renewable energy generation capacity with assets under our management.

01.02 What is the main problem you are trying to solve?

Nigeria (and Sub-Saharan Africa) is starved for electricity. The country (and region) needs power and lots of it (up to 1600 terawatt hours by 2040) to fulfil its economic and social promise. Today, businesses bear the brunt of Nigeria's significantly underdeveloped power sector: 1. Grid - unstable electricity supply and high electricity tariff 2. Generator - outrageous fuel expenses and recurring maintenance costs

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

Terawatt enables businesses to stay running and never run out of electricity with three offerings as one solution: 1. 24/7 clean energy supply: Our installations are designed to meet the unique needs of every customer, providing them with clean and stable electricity. 2. Optimized performance of assets: We use software technology to monitor installed solar assets, guarantee optimal performance at all times, improve their lifecycle, and increase ROI. 3. Outsourced management of assets: Businesses can focus on their core activities and leave their electricity burden to us.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

Terawatt is focused on serving Commercial and Industrial businesses. In the future, we hope to explore renewable energy farms to support the Grid and serve Residential purposes at scale.

01.05 When did you start working on your project?

2024-04-01

01.06 How many other partners are associated with your business venture?

2

01.07 Among the other partners, how many are female?

1

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

1. Chidinma Akunwa Role: Product and Technology Lead Core skill: Full-stack Software Developer Experience: 4 years Gender: Female Background: B.Eng. Electronics and Computer Engineering (UNIZIK) 2. Osinachi Nwairo Role: Service and Technical Lead Core skill: Solar Engineer and Installer Experience: 7 years Gender: Male Background: B.Tech. Quantity Survey (FUTO)

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

https://www.terawattenergies.co

01.10 Which industry best describes your project?

a) Energy (equipment, services, sustainable energy and fuel)

02.01.01 My project contributes to the No poverty goal

4

02.01.02 No poverty - Justification

Through job creation and economic development, Terawatt contributes to poverty alleviation by providing sustainable livelihoods and economic empowerment.

02.02.01 My project contributes to the Zero hunger goal

4

02.02.02 Zero hunger - Justification

Through job creation and economic development, Terawatt indirectly supports food security by increasing household incomes and strengthening local economies, which can improve access to food and nutrition.

02.03.01 My project contributes to the Good health and well-being goal

5

02.03.02 Good health and well-being - Justification

Access to reliable electricity provided by Terawatt to businesses, including Hospitals can contribute to improved healthcare services and outcomes. We also provide energy through a clean source, leading to better air quality and reducing health issues related to air pollution.

02.04.01 My project contributes to the Quality education goal

4

02.04.02 Quality education - Justification

Access to reliable electricity can improve educational facilities by providing consistent lighting, powering educational technology, and enabling remote learning opportunities.

02.05.01 My project contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification

Terawatt has both male and female co-founders, we strongly encourage the participation of women in the renewable energy workforce, fostering inclusivity and diversity within the sector.

02.06.01 My project contributes to the Clean water and sanitation goal

4

02.06.02 Clean water and sanitation - Justification

Solar energy can power water treatment and desalination plants, as well as water pumping systems, improving access to clean water and sanitation. As well as commercial projects, Terawatt specializes in such industrial energy installations.

02.07.01 My project contributes to the Affordable and clean energy goal

7 - Strongly Agree

02.07.02 Affordable and clean energy - Justification

Terawatt contributes directly to expanding access to affordable, reliable, and clean energy. Solar energy reduces reliance on fossil fuels, mitigating air pollution and greenhouse gas emissions. Terawatt's mission reflects our very commitment to provide energy services at scale only through renewable and clean sources.

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

Terawatt's activities create employment opportunities in the renewable energy sector, fostering economic growth and promoting decent work for local communities.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

Our technology-driven approach to managing and optimizing solar assets demonstrates innovation in the renewable energy sector. By building infrastructure for solar energy generation at scale, Terawatt contributes to resilient and sustainable industrialization.

02.10.01 My project contributes to the Reduced inequalities goal

4

02.10.02 Reduced inequalities - Justification

By exploring renewable energy farms to support the Grid and reach underserved areas, Terawatt helps reduce economic inequalities; improving access to electricity, essential services, and fostering inclusive growth.

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

Solar installations by Terawatt promote sustainable urban development by reducing carbon emissions and reliance on centralized power grids. This contributes to building resilient and environmentally friendly cities.

02.12.01 My project contributes to the Responsible consumption and production goal

5

02.12.02 Responsible consumption and production - Justification

Terawatt promotes responsible consumption and production by fostering the use of renewable energy, which is more sustainable and less resource-intensive compared to fossil fuels. Additionally, Terawatt helps businesses reduce their carbon footprint and operational waste, encouraging more sustainable business practices and resource efficiency.

02.13.01 My project contributes to the Climate action goal

7 - Strongly Agree

02.13.02 Climate action - Justification

Terawatt's activities with solar assets aligns closely with efforts to combat climate change by reducing greenhouse gas emissions and promoting renewable energy sources. Solar installations mitigate the effects of climate change and contribute to global efforts to limit temperature rise.

02.14.01 My project contributes to the Life below water goal

4

02.14.02 Life below water - Justification

By reducing carbon emissions and mitigating climate change, Terawatt's focus on renewable energy indirectly supports efforts to preserve marine ecosystems and biodiversity, ultimately benefiting life below water.

02.15.01 My project contributes to the Life on land goal

5

02.15.02 Life on land - Justification

Reduced emissions from Terawatt's renewable energy projects help protect terrestrial ecosystems by minimizing habitat destruction and pollution associated with fossil fuel extraction and use.

02.16.01 My project contributes to the Peace justice and strong institutions goal

4

02.16.02 Peace justice and strong institutions - Justification

Access to affordable and clean energy can promote social stability and economic development, indirectly supporting efforts to build peaceful and inclusive societies and strengthen governance institutions.

02.17.01 My project contributes to the Partnerships for the goal

7 - Strongly Agree

02.17.02 Partnerships for the goal - Justification

Terawatt's mission to unlock 1 terawatt of renewable energy generation capacity highlights the importance of partnerships between governments, businesses, and communities to achieve sustainable development objectives. We encourage and acknowledge that collaborative efforts are essential for scaling up renewable energy infrastructure and achieving universal access to clean energy.

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

1 - Strongly Disagree

05.02 The product/service we envision creating represents an entirely new type of product/service.

7 - Strongly Agree

05.03 The product/service we envision creating could be described as a new technology.

4

05.04 The product/service we envision creating is an improvement on an existing product or service.

7 - Strongly Agree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

3

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

5

05.08 Justification

While there are companies offering solar installations or asset management separately, few provide a comprehensive, technology-driven solution that combines both aspects as Terawatt does. Our integrated approach significantly improves upon existing services by offering a differentiated solution that extends asset lifecycle, enhances performance, and increases return on investment for businesses. The need for reliable, cost-effective, and efficiently managed solar energy solutions in Nigeria and Sub-Saharan Africa is significant and largely unmet. The evolving demand for power-generation capacity is projected to reach 1.2 terawatts, excluding solar, and 10 terawatts, including solar, by 2040. (https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/east%20africa%20the%20next%20hub%20for%20apparel%20sourcing/brighter_africa_the_growth_potential_of_the_sub%20saharan_electricity_sector.pdf). We are solving this need for businesses first, then everyone else at scale.

05.09 Who are your main potential competitors and what makes you stand out from them?

Our main potential competitors include Empower New Energy, Starsight Energy, Equator Energy. They are the leading C&I (commercial & industrial) solar installers in Nigeria with regional operations across Africa. Terawatt is re-imagining commercial & industrial solar installation for businesses, through our differentiation in post-installation support. We are building proprietary technology to efficiently manage the installed solar assets at scale.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

I have been a keen supporter of the #WomenInTech and #WomenTechpreneurs initiatives. I am an active sponsor through the Synthera Fellowship, a platform that empowers aspiring creatives to learn and improve their tech skills, with a pay-what-you-can model. I pay $10 tuition support for at least 1 female creative in each cohort. I believe these tech creatives are true entrepreneurs because they innovate, develop, and market new technologies or digital products to meet market needs and generate business value. They go on to become not just career experts but also self-sufficient, successful freelancers. https://www.joinsynthera.com/