Storytelling Shapes the Energy Transition: Olubunmi Olajide on Powering Africa’s Clean Energy Future | Tangelic Talks S03E10 - video Dailymotion

Tangelic Life

🎙️ Can storytelling change how we power the world? In this inspiring episode of Tangelic Talks, co-hosts Victoria Cornelio and Andres Tamez sit down with Olubunmi “Olu” Olajide — a commercial energy professional and host of The Energy Talk podcast.  Olu shares his journey from petroleum engineering to becoming one of Africa’s most passionate voices in the clean energy transition. He discusses how storytelling, finance, and policy can work together to accelerate sustainable energy access and drive climate innovation across Sub-Saharan Africa.  🌍 Episode Highlights: ⚡ From oil & gas to clean energy — Olu’s career transformation 🎧 The story behind The Energy Talk and its impact 💰 Financing sustainable energy — aid vs. private capital ☀️ Solar power and decentralized access 📊 Policy gaps shaping Africa’s green economy 🤝 The rise of blended finance and just transitions 💬 Storytelling as a bridge between urgency & opportunity 🌱 Empathy and human-centered transition  📌 Timestamps: 00:00–01:28 Incremental Steps: How to Tackle Big Problems Piece by Piece 01:29–02:57 Meet Theo Minne: Turning Vision into Action Across Africa 02:58–04:46 From Apprentice to Telecom Pioneer: The Early Career Journey 04:47–06:41 Evolution of Telecom: Complexity, Costs & the Human Factor 06:42–09:03 Conscious Capital: Rethinking Finance for Real Impact 09:04–11:53 Generational Shifts: Youth, Innovation & New Capital Models 11:54–14:42 The Promise and Peril of AI: Innovation, Risk & the Future of Work 14:43–18:13 Systems Thinking: Simplifying Complexity Without Losing Depth 18:14–24:05 Scaling Challenges in Africa: Logistics, Access & Rural Realities 24:06–29:46 Leadership Lessons: Persistence, Mentorship & Building with Vision 29:47–33:55 Final Reflections and Closing Outro  🔹 Guest Bio: Olubunmi “Olu” Olajide is the founder of The Energy Talk and a commercial manager at Odyssey Energy Solutions, leading efforts in solar mini-grids and EV projects across Africa.  ✨ Watch, Learn & Connect: 🌐 Website: www.TangelicLife.org 📸 Instagram: https://www.instagram.com/tangeliclife/ 🐦 Twitter/X: https://x.com/Tangelic_ 💼 LinkedIn: https://www.linkedin.com/company/tangelic/ 👍 Facebook: https://www.facebook.com/tangelic.org  💬 Join the Conversation: How can storytelling shape Africa’s energy future? Comment below 👇  ✅ Subscribe to Tangelic Talks for more insights on energy, equity, and empowerment.  🌱 Support our mission: TangelicLife.org  🔖 ##TangelicTalks #CleanEnergyAfrica #EnergyTransition #StorytellingForChange #AfricaRising #ClimateInnovation #SustainableDevelopment #RenewableEnergy #SolarPowerAfrica #GreenEconomy #ClimateFinance #EnergyAccess #JustTransition #ClimateJustice #SustainabilityLeadership #BlendedFinance #PoweringAfrica #PodcastForImpact #CommunityEmpowerment #ClimateStorytelling #EnergyForAll #EquitableFuture

Transcript

00:00I was like, one of the most compelling things about solar is not necessarily its sustainability aspect, which is good, but it is the energy independence, right?

00:07If you live somewhere where infrastructure isn't good, or it's just not reliable, or you just don't have access to energy, you can have it basically now, right?

00:18A problem that your audience might not be very familiar with is on the African continent, only about 60% of the continent has access to energy, and the energy that they do have access to sometimes might not be very reliable.

00:31So there's a very large population, over 600 million, that have that energy gap.

00:36So essentially, we're trying to figure out how to get relatively expensive solar equipment to communities, how to finance those, how to make sure that it's affordable for the end users using the combination of grants, subsidies, private.

00:50A lot of work really has to go to make sure that you're first of all communicating to the end users, to the community, to the community heads that, hey, this is the reason why things have to cost this much, because long term, we can sustain this, and it all comes back to what kind of capital can you raise.

01:20Welcome to Tangelic Talks, a podcast at the intersection of energy, equity and empowerment, with your co-host,

01:50this is Victoria Cornelio and Andres Thames, and another podcaster, Olu, so he's from the Energy Talk, and you'll be able to find that on the blog, but he's here because he's a commercial energy pro by day and a podcast host by passion.

02:05We're going to be talking to him about stories from the green sector, what that means, and how we look at bold ideas, and how serious storytelling has very, very strong powers for us to talk in this sector.

02:19So welcome, Olu.

02:20Thank you, thank you very much, very happy to be here.

02:23Yeah, it's nice to talk to a fellow podcaster who gets it, you know.

02:28Exactly.

02:30And this might be your best sounding episode as well.

02:33No, this is so fun.

02:35So, commercial energy pro by day, podcast host by passion.

02:39Walk us through that.

02:40What does your, how did you end up here?

02:43That's a very good one.

02:44I think it, it goes back to my university degree.

02:48So, my background is actually in petroleum engineering.

02:51I had very heavy contracts to what I do right now in the clean energy space, but I graduated into probably one of the worst downturns in the oil and gas sector.

02:59So, basically, there was a massive hiring freeze for entry-level roles.

03:02And while trying to, like, brainstorm on what to do with my career, I had a conversation with a non-profit based in Peru.

03:11And they were doing some very interesting work in the sustainability space.

03:15And that was my first time really speaking to someone who made a career out of climate change and sustainability.

03:20And I was like, I love what these guys are doing.

03:23Is there a way for me to switch since I'm having this problem?

03:26And that was probably one of the best decisions that I ever made.

03:30So, the way I made that switch in my career was to start a podcast.

03:33I was like, I don't know anybody.

03:36Everybody's ignoring my messages.

03:37My CV isn't getting anywhere.

03:39I'm going to start a podcast.

03:40And one thing I discovered is people love being invited on podcasts.

03:44They were like, they would ignore everything else.

03:46But I said, oh, by the way, would you like to be a guest?

03:48They're like, oh, perfect.

03:49Yes.

03:50So, as you can imagine, I made a lot of friends that way.

03:54To my surprise, people actually listened to the podcast episodes that we made.

03:59That part was a bit unexpected.

04:01That started about six years now that I've been running the Energy Talk podcast.

04:06We're focused on telling the story of South-Saharan Africa's energy transition.

04:11We cover everything from policy, financing, and operators as well,

04:16whether that is private or public companies.

04:19And we've been doing that work for a very long time.

04:22My career has also followed the progression of the podcast.

04:26I've gone from working with a nonprofit.

04:28And for the last four years, I've been working with startups as a commercial manager.

04:32I'm working to deploy and finance sustainable energy projects on the African continent.

04:39Wow, that is so cool.

04:41So, you were able to fully pivot, blend all your passions into one.

04:46And that's what you do.

04:47I think that's really inspiring.

04:48A lot of people feel stuck when they've chosen a path that suddenly doesn't feel right.

04:53So, what gave you that impulse?

04:56How did you find the motivation to do it or the security to do it?

05:00Because it can be quite scary.

05:01That's a very good question.

05:02And I think it's always been about just kind of the way I'm wired.

05:08I think I have a bit of ADHD.

05:10And I can't really focus on something unless I really, really like doing it.

05:14And that has really made a lot of the career decisions I've made very intentional because

05:18I want to work on something that's very high impact.

05:21And the most high impact thing that I could think of was to be part of the push towards

05:25deploying really long-term infrastructure projects that can last like the next 10, 20,

05:32100 years, hopefully.

05:34And that was like the key pivot.

05:36And one very interesting story of how I did this is, as you can imagine, when I first got

05:40out of university, I was a broke, unemployed graduate.

05:43And I had no money.

05:45So, I had to go to my mom and I wrote her a business plan and asking her for $100 loan

05:50to start my podcast.

05:51And I was like, this is going to be the thing.

05:54I was like, I'm going to stop applying for jobs and I'm going to start this podcast.

05:58And this is how I'm going to start my career.

06:00So, you can imagine that it was a bit crazy at that moment.

06:05I think probably she would say that was a very profitable investment.

06:11Yeah.

06:12Yeah.

06:12And it's kind of led to everything.

06:15And I feel very privileged to be able to do what I do.

06:18And it's not very often that you get to truly take a lot of satisfaction in the work that

06:25you have to do to survive, I guess.

06:27Yeah.

06:29100%.

06:29And how has the podcast helped you sort of shape your own understanding of the clean

06:34energy transition?

06:35It's been very instrumental.

06:37So, it's one of the things that has really helped me kind of go beyond just my regular

06:43role because I get to speak one-on-one with people who are doing things well beyond my

06:48level of experience or exposure.

06:50I guess it started up pretty small.

06:54So, I was just speaking to people within my network, people that I found on LinkedIn.

06:57Soon after, we say, speaking to a lot of CEOs, a lot of finances, whether that's in the VC space

07:04or on the infrastructure asset managers.

07:08And it's very interesting to see how different perspectives really come together to solve one particular problem.

07:14And then, first of all, it gives you a lot of appreciation for the scale of the challenge.

07:19But then, it kind of introduces you very early to a lot of nuance.

07:23I think social media, sometimes, depending on how you get information, you can get very quick soundbites

07:31that sound pretty good but lack a lot of nuance.

07:34But it's really hard not to get your positions challenged or to learn something new where you're

07:39having a 30- to one-hour conversation with somebody who is doing something that you haven't

07:43done as well.

07:44So, professionally, it's been great because it's been an amazing networking tool.

07:48But personally, it's really shown me how a lot of appreciation for the work that goes

07:54into just setting up a simple power grid, for instance, or setting up a piece of policy

07:59or to launch a simple program or to raise $1,000 for a youth event in an underrepresented

08:06community.

08:07The entire spectrum, and I've gotten to meet people, really great people across that.

08:12Yeah.

08:13And that's part of your day job as well, right?

08:15So, working in that commercial energy and deploying infrastructure, what does that look

08:21like?

08:22Yeah.

08:22So, I think that's also something else.

08:24So, usually, people tend to pick their hobby and their careers at separate things.

08:29Unfortunately, my day job is more of the same.

08:32So, currently, I work as a commercial manager for a startup called Odyssey Energy Solutions.

08:37There, we directly finance solar mini-grid projects and also EV assets across the African continent.

08:46So, what that looks like is if a developer, that's what we call companies that actually

08:51build these assets.

08:52If a developer wants to deploy a fleet of 1,000 two-wheel EVs, that's electric motorcycles,

08:58or if they want to build a mini power generation plant that's powered by solar, we would essentially

09:06come in, look at the transaction, and decide whether or not that we can back that financially.

09:12And we do pretty large ticket sizes for that on the infrastructure side.

09:16Before this, I was working with an OEM.

09:19So, that's an original equipment manufacturer.

09:21So, they essentially made low-cost solar equipment for rural electrification.

09:27A problem that your audience might not be very familiar with is on the African continent,

09:31only about 60% of the continent has access to rural energy, and the energy that they do have access to

09:38sometimes might not be very reliable.

09:40So, there's a very large population, over 600 million, that have that energy gap.

09:44So, essentially, we're trying to figure out how to get relatively expensive solar equipment

09:51to communities, how to finance those, how to make sure that it's affordable for the end users

09:56using the combination of grants, subsidies, private capital, and some sort of concessional loans.

10:03So, it's kind of like two sides to the same coin, right?

10:09You're really driven by the climate change aspect and the end user aspect of trying to make an impact,

10:17but then you're dealing with all the commercial sides of the reality that people want to invest money

10:22and make a return, and it's very difficult to actually get people to commit capital to things

10:27that might be driven by impact more than profits.

10:31But that's where I sit, and it's not always easy, but it's something I get up and do every day.

10:37Yeah, no, and you sound really passionate about it, so I can imagine it really gets you out of bed.

10:42Yes, it does. Yes, it does.

10:44And that kind of goes back to what I said earlier, that I need to enjoy what I do,

10:50and that's why I feel like I'm in the perfect industry.

10:53I was going to ask earlier when you were telling us about your education background,

10:57do you think that your background in petroleum engineering, do you think that gives you an –

11:06is that an asset, especially when you're talking to people on the more renewable energy side that –

11:12we have to be honest.

11:13You know, a lot of the times people on one side don't really understand what goes on on the other

11:18and the benefits of one side over the other.

11:21And so you can see the benefit of traditional energy, right,

11:26and how it can be used and leveraged to maybe help sustainability, right?

11:33Like, do you think there's an advantage there from your background, the things you know?

11:37Yes, definitely.

11:39So first of all, I always make this joke that I probably have the least useful engineering degree

11:44because in petroleum engineering, we really focus on how to get oil out of the ground.

11:49So that's a lot of work around geology, fluid dynamics,

11:53and all of the things that don't really apply to day-to-day life.

11:57So in terms of the technical learnings from my engineering degree,

12:00it hasn't been very useful in my day-to-day career.

12:03But just the engineering training, knowing that how to work with numbers,

12:07I think that has translated very well to working with financing because it's just numbers.

12:12You're just, like, working on returns and risk of certain assets.

12:18So there's been some pretty good translation there.

12:20But one thing that I think has been even more beneficial is just the appreciation

12:25for how complex energy systems are.

12:29A lot of people who might just start it up on the renewable energy side

12:32might think that the oil and gas industry is, like, just completely unnecessary

12:39or completely evil or whatever it is, there's a lot of nuance.

12:44And I think that the analogy that I'd like to give is if you were in a remote community

12:49and you've not had power for the last three months and you had to do something really important,

12:54you wouldn't care if the electricity comes from solar, oil, coal.

13:01It could be burning ducts.

13:03It's like, at that point, you would take anything, right?

13:07And we need to understand that, like, for some people, that's their reality.

13:11So we're really trying to come up with the best low-cost solution that can meet that need,

13:16but also be sustainable long-term.

13:20The reality right now is that the best means to do that is via solar.

13:25That might change in the next few years.

13:27But this is the best solution that we really need to be pushing more on that particular front.

13:32So nuance is probably very important.

13:34It kind of gives me a big appreciation for the role that other people play in the energy system

13:40just outside of the renewable energy sphere and also just engineering training

13:45to know that you can find solutions and you can, like, work with people as well

13:49to come see free outcomes.

13:52Why solar?

13:52Is it just because of how I think it's very accessible right now compared to others

14:00which the upfront cost could be a lot larger, right?

14:04Like nuclear, for example.

14:07Is that one of the main reasons?

14:09Like, why is solar the solution?

14:11That's a very good question.

14:12And the reason why solar has emerged as such a big solution,

14:16especially for developing communities and Africans in particular,

14:21or sub-Saharan Africa in particular,

14:23is because it allows you to deploy assets in a decentralized manner.

14:26The way that the U.S., the U.K., and most other developed nations

14:30have built their energy systems is they have a central large power generation unit

14:35and that's usually either coal, most likely coal, natural gas,

14:39and that central generation point you connect all your transmission lines to

14:43and that spreads out the energy across pretty large distances.

14:46That works in a lot of developed countries because those infrastructures have been in place

14:53for many, many years.

14:55But when you come to sub-Saharan Africa, for instance, I'll use Nigeria as an example.

15:01The central grid infrastructure is not very good.

15:05It's not enough to even facilitate energy to the coverage area.

15:09So the ones that already have transmission lines,

15:12the ones that have meters in their homes,

15:14they're not getting enough from the main grid.

15:15So you have an option.

15:17Either you expand the central grid, which is very, very expensive.

15:21There's a lot of policy that can really tie things up

15:23and make it even more expensive in the long term.

15:26Or you want to bring in more complicated technology like nuclear,

15:30which has a lot of ramifications that a developing country,

15:34quite frankly, might not be technically, socially,

15:39or politically able to really develop.

15:41Solar really comes in as an option that really fits that perfect spot

15:47because the cost of solar equipment has been reducing drastically in the last 10 years.

15:51So you have a relatively low cost equipment.

15:54And more importantly, it can be deployed in pockets, in a decentralized nature.

16:00So the industry for solar energy in Africa is called decentralized renewable energy

16:06because you can build relatively small mini grids, about like 500 kilowatts to 4 megawatts.

16:13These skills might not really mean much to the audience,

16:15but just keep that in mind as kind of like an anchor.

16:20And you can just spread this out across communities that actually need them.

16:24The communities that are actually able to afford them

16:26or communities that have some sort of grant financing that would further reduce the cost of deployment.

16:32Because again, if they've not had access to energy for a very long time,

16:35most likely the ability to pay for power is also reduced or suppressed.

16:39So you need to give them something where they can actually afford to pay

16:42so the people going in buying the equipment can actually make money.

16:45And that's how you get a sustainable infrastructure like landscape that really grows.

16:51So a lot of more complicated reasons, but just for a snapshot,

16:55that's the reason why solar has really grown and continues to grow

16:58as the best solution to really close that energy access gap.

17:02That's a really compelling snapshot.

17:05Like one of the things that me and Vic talk about is,

17:07I was talking to you the other day and we were like,

17:10I was like, one of the most compelling things about solar

17:13is not necessarily its sustainability aspect, which is good.

17:15But it is the energy independence, right?

17:18If you live somewhere where infrastructure isn't good

17:21or it's just not reliable or you just don't have access to energy,

17:25you can have it basically now, right?

17:29You just have it shipped to you, kind of, your own way of generating electricity.

17:33And I think a lot of times people underestimate how important it is

17:37to sell that exact story that you just told, that energy independence, that angle.

17:42Because I think a lot of times you get inundated with the climate change aspect,

17:46which is all very real and it's very important.

17:48But again, it really depends on who you're trying to sell to.

17:52Someone who needs energy like right now from whatever source,

17:56they really care about, is this going to be cheaper than what I'm currently using,

18:00which in most cases is going to be either diesel or petrol for generators.

18:05So that beats that by far, right?

18:08So you really want to incentivize them by their biggest pain point.

18:13And I think there's been a lot of really good progress from private organizations

18:17that are really able to do that.

18:19And that also contributes to the huge boom that solar has been experiencing,

18:23especially in Africa.

18:24Yeah, that makes sense.

18:25And you've mentioned policy a couple of times.

18:27And I'm just wondering, do you think there's like a gap in understanding

18:31between policymakers and the people building these green solutions on the ground?

18:36Like, is there something that, you know, they're just not getting it?

18:40So I'll backtrack for your audience.

18:42So maybe it'd be easy to follow along.

18:44I'm an engineer by training.

18:46So I was kind of, my mindset for a very long time is,

18:50as far as it technically makes sense and it's economically feasible,

18:53why should you not do it, right?

18:55Now, as someone who has actually worked for a very long time,

18:59I know that there are actually many reasons why and many valid reasons why.

19:03So I have a very much stronger appreciation for the role that policy plays

19:07and how complicated it can be to actually set up the right kind of policy.

19:11Because a lot of times when it comes to policy,

19:13which is basically the rules that the private sector

19:16and everybody else has to operate by,

19:18a lot of the government officials are very well-meaning.

19:22They want to come up with a solution that kind of like serves everybody.

19:26But when you're working in a space that you're working with other new technology,

19:30new business models,

19:31you're working with really complex players within the space,

19:36it takes a very long time to get like really good, thoughtful policy laid out.

19:40So they need a lot of support.

19:42There are lots of organizations that do these kinds of supports.

19:45RMI does a lot of really fantastic work.

19:48Sustainable Energy for All does some really fantastic work.

19:50because once we have the right policy frameworks in place

19:54and everybody knows the rules,

19:56then people can like take more risks.

19:58Finances can come in and put in more money

20:00because you know the boundaries they are working at.

20:04I've had a lot of conversations with policymakers

20:06and sometimes they're in a very difficult spot

20:08because there's a lot of pressure on them as well.

20:12And it's something that, to be honest,

20:15I'm still growing a bit of appreciation for

20:17because I sit on the private side and a lot of times I'm like,

20:20they could just move like a little bit faster,

20:23like every time.

20:24I think for any private operator,

20:26the right amount of policy will probably be none.

20:29But it's a delicate balance

20:31that everybody kind of like has to work together,

20:34be collaborative and long-term,

20:36have rules that are set,

20:37that not just incentivizes people to go in,

20:40make investments,

20:41and be beneficial for the end users.

20:44But so it's done in a way that it's equitable

20:46and you don't have like five years,

20:4810 years on the line where you're like,

20:49oh, wow,

20:50this has been a complete and utter failure

20:53because these incentives weren't aligned

20:56or there was this loophole

20:58that allowed exploitation of the system

21:00or like whatever else.

21:02Yeah, we don't want to get ahead of ourselves, right?

21:05And within your platform,

21:07you talk, like you said,

21:08to a lot of high-level people,

21:11but what stories do you think

21:13aren't being told enough right now

21:15in the green sector?

21:16What are some conversations we're not having?

21:19I think something that's really powerful for me

21:21and that I have been a bit more intentional about

21:23featuring on my podcast

21:26is the private players

21:28that are coming into the sector.

21:29I think Africa has a lot of stories being told,

21:32particularly around aid and grants.

21:34And as helpful as that is,

21:36because it has been a really good capital pool

21:39that's really poured into the continent,

21:41not just in energy,

21:42but in other social aspects as well,

21:44education and health.

21:46But it only takes you so far

21:48because the incentives of someone providing

21:51donor capital, for instance,

21:52might be not aligned

21:54with what's needed for a private company

21:57to go in and scale,

21:58which is why you have loans from banks

22:00and VC, for instance, venture capital.

22:03But once those options aren't available,

22:05you kind of incentivize

22:07a different kind of industry to build.

22:09But a recent change that's been happening

22:11is there's been a lot of more private capital,

22:14which means that they're putting in money

22:16solely to make back more money.

22:18And that's always a good thing

22:19because that means that the sector

22:21has very high potential

22:23because then people are seeing this

22:24as a way for them to generate returns.

22:27And that incentivizes more capital to come in

22:30and more players to help the market.

22:32Yeah, exactly.

22:33That is when you can have the capital system

22:36for better or worse work

22:38to the benefit of end users.

22:41Obviously, there are like lots of caveats to that,

22:43but in general,

22:44that has been a recent trend

22:45that's been emerging,

22:46especially from companies being set up.

22:49It's focused on climate tech in Africa

22:51and being backed by some creative financing

22:54from VCs.

22:55And the trend there is

22:56there's a lot of specialized financiers

22:59and investors

23:00that are propping up

23:01just to support those kind of companies.

23:04And that's very exciting for me

23:05because a lot of times

23:06local founders and local companies

23:09really struggle to get access to capital.

23:12And because most of the capital

23:13has been concessional or donor-led,

23:17they've been pushed in a particular direction.

23:18But now they can actually think more about skill,

23:21about growth,

23:21and about not just filling up for the end user,

23:24but growing their organizations.

23:26And also it attracts people, right?

23:28Because if they see that the sector is growing,

23:31more people would want to come in

23:32and that's how you get a healthy ecosystem.

23:35Do you think it's also a thing of

23:37long-term having a healthy market is just better

23:40because this is sort of a stereotype

23:42and it sort of exists in my brain

23:43about like the sort of aid slash side of things.

23:50they'll come in,

23:52they'll do something,

23:52it's really awesome,

23:53but they don't have that long-term view

23:56of sustaining it, right?

23:58Yes, they have a vision,

23:59a long-term vision,

24:00but unlike the private sector,

24:03which installs it,

24:04and now it has to be generating money

24:06basically forever.

24:07And so they have a really strong incentive

24:09to maintain it.

24:10It's different on the other side.

24:11Do you think that stereotype is kind of true?

24:13That it's just in the long-term,

24:15it might be better?

24:16Yeah, and I'll give an example

24:18of how this can play out in the real world.

24:19So let's say that I am a private developer

24:23and I want to build a solar mini grid

24:26that's one megawatt.

24:28And just for context,

24:29that can serve at least like a thousand households.

24:31So let's say that there's a community

24:32of a thousand households

24:34and that's going to have a beneficiary base

24:36of about like 50,000 people

24:38across those thousand households, right?

24:40That's what I want to do.

24:41So I go out to the market,

24:44I have my plan,

24:45I've done my feasibility studies,

24:46I have the design for the actual grid

24:49and now I need to raise money to go build it.

24:52The kind of capital that I raise

24:54affects a lot of decisions

24:55that I have to make down the road, right?

24:58So let's say that I raise money from a donor,

25:03like aid money.

25:04So think about USAID,

25:06even though they probably don't have

25:07any more money to give out

25:08or any other source.

25:09And they give me money to build the grid

25:14and they give me really great terms,

25:16but they tell me that I can only charge the tariff

25:18to the households a certain amount

25:20just so that from their impact reports,

25:23they can say that the houses

25:25are getting affordable energy.

25:27And that's perfect.

25:28Like that is a really good intention.

25:30But if the amount that I'm charging the households

25:33is not enough for me to keep up

25:35with the operation and maintenance costs

25:36for the grid,

25:37after the aid money runs out,

25:39which is basically what I need

25:41to actually build the asset.

25:43If I'm not making enough money from that asset,

25:45then long-term,

25:47it becomes very difficult to justify

25:49from a business sense

25:50to keep operating that asset.

25:51The incentive for me as a developer

25:53is to just go build a new one,

25:56get the aid money to build it,

25:58and then rinse and repeat

25:59because the incentives aren't aligned

26:01to actually operate that asset

26:03because there's a cap to how much I can charge, right?

26:06And this is where a lot of the nuance gets left out

26:09because if you raise money from a private source,

26:12you need to be able to operate that asset profitably.

26:14Otherwise, it's not economically viable.

26:17And that means that you have to charge more money

26:19to the end user.

26:21But long-term, there's a lot of benefit.

26:24So a lot of work really has to go

26:26to make sure that you're first of all

26:28communicating to the end users,

26:29to the community,

26:31to the community heads that,

26:32hey, this is the reason why things

26:33have to cost this much

26:34because long-term, we can sustain this.

26:37And it all comes back to

26:38what kind of capital can you raise?

26:41And I think that kind of like,

26:43I hope that puts a picture

26:44in your audience's mind

26:46of why it's important to raise

26:48either a certain type of capital

26:50or a certain blend of capital

26:52and how it affects long-term decisions

26:54that private companies will make

26:56because they have to make those decisions.

26:57And it's all based on what incentives they have.

27:00Yeah, I think you explained that really well

27:03because it really does paint that picture.

27:06And if we weave in storytelling here,

27:08like you said,

27:09we have to be able to communicate that.

27:11When you look at the green economy today,

27:13do you think we're telling the story

27:14of opportunity enough

27:15or are we kind of stuck

27:17on this crisis narrative?

27:19I feel like there's been a switch

27:22like probably in the last,

27:24since I've became very aware,

27:27probably in the last five years,

27:28there's been a switch on really sounding the alarm

27:31on climate change

27:33and the large amount of population

27:36that aren't being served

27:37and don't have access to energy.

27:38There was initially like a tone change,

27:41I think in the last two to three years specifically,

27:43where we've changed that story

27:45to like we need to provide aid

27:48and help to these communities

27:50to there's an opportunity here

27:52to actually make money, right?

27:54And tonally, it's very important

27:56because depending on what version

27:58of that message you're using,

28:00you're going to attract different kind of people.

28:01If you say you want to go in

28:05and provide like an aid service, right?

28:09You'll most likely get volunteers.

28:10You get people who want to do some good,

28:13really well-intentioned,

28:14but there's a limit to what they can actually do

28:16when they're working on a volunteer basis, right?

28:19But if you present it as an opportunity, right?

28:21You're telling people that, hey,

28:23I believe if you invest money in this place,

28:25you can build generational wealth.

28:27Then most likely you attract people

28:31who are very, very intelligent,

28:33young, driven, looking to make an impact,

28:35looking to actually work hard and build.

28:38And I think like that tone change

28:40has been very important

28:41to a lot of local founders

28:43and private capital coming into the space

28:45because long-term with the analogy I gave earlier,

28:49you can see how it affects on a 10 to 20 year scale.

28:55So all these things also compound.

28:57And so I like that you mentioned that.

28:59So that attracts the local money, right?

29:02That attracts the local interest.

29:03Would you say that that's way more important

29:05than a lot of these like

29:07to the long-term viability of it, right?

29:10Because it seems like it would be.

29:12Yes.

29:13Because you have people that care

29:14about the community in a way.

29:16Yeah.

29:16So one thing that I think it's always good

29:18for people to keep in mind

29:19is that capital only cares about returns.

29:22I think like once you come to terms with that,

29:25I feel like a lot of things

29:26would probably fall off your back a bit easier.

29:29But there is a right blend

29:31and the structure that's emerging

29:33as preferred within the energy

29:36slash climate tech ecosystem in Africa

29:37is what's called blended finance funds.

29:39So that is when you have

29:41some sort of concessional loan.

29:43So let's say you get a grant

29:45or you get like a low interest loan

29:47like below market rates,

29:48really great deal.

29:50And in some cases,

29:51they can be forgiven.

29:52You attract some sort of private capital

29:55and then you attract like a blend of debt

29:58or whatever it is, right?

29:59So that basically allows you

30:01to deploy money into assets

30:03that are deemed risky

30:05or more risky than traditional assets

30:07and allow you to based on

30:09what the return expectation is

30:11because if you're a grant provider,

30:14for instance,

30:15you really don't expect

30:16to make any of your money back, right?

30:18So you can like just give that money,

30:20get your impact report

30:21and the impact report

30:22is basically your return

30:23because that's what you care about.

30:25But if you're a private capital provider,

30:28you want to make like 5% to 20%,

30:31whatever it is on the money you put in.

30:33So you have that expectation going in, right?

30:35So what blended finance funds really do,

30:38it allows you to pull money

30:39from a lot of different players

30:40and meet them where their return profile is

30:43and make sure that everybody gets

30:45what they want

30:46while still deploying money

30:48into quote-unquote

30:49more risky private assets.

30:51So that way you can back founders,

30:53you can back local teams,

30:55you can back teams

30:56that probably don't have

30:57a lot of track record

30:57rather than consolidating capital

31:00and what will be the bigger,

31:02less risky enterprises.

31:04Yeah, that makes sense.

31:05So then looking ahead,

31:06what narratives do we need to amplify

31:08if we're going to, you know,

31:10accelerate a just and sustainable transition

31:12that you're talking about?

31:14I think for me, right,

31:15the narrative that at least I try to push,

31:19I'm not sure,

31:20depending on who you ask,

31:21the answers might be very vastly different,

31:23is I like to focus on the people

31:25who are actually out there doing it.

31:27I think that's something

31:28that I kind of caught myself on

31:31is because I'm so deep on the weeds

31:33on these things.

31:33I've been in the industry for so long,

31:34I assume everybody knows

31:36like the people who are doing well,

31:38but really like we don't,

31:40there's kind of like a lid

31:41that the industry news

31:42doesn't really break through.

31:43But when you have like a Nigerian founder

31:46whose company has raised

31:47a 50 million Series B round, right?

31:50You want to celebrate those stories

31:52because those stories are very rare.

31:54When you have 10 companies

31:56tackling climate change within Africa,

31:58you want to make sure

31:59that they're able to get enough visibility

32:01for them to go raise their seed rounds.

32:03Or if you have a developer

32:05that wants to build a mini grid

32:07in a community

32:08that's been overlooked for many years,

32:10you want to make sure

32:10that they're able to have

32:11the right kind of visibility

32:12to go out and raise

32:14the kind of money that they need.

32:15So that's kind of the work

32:17that I've been focused on on my podcast,

32:19really trying to amplify the right voices,

32:21trying to make sure

32:22that we celebrate the wins we have

32:24because the people working

32:25really hard in these sectors.

32:27And for me,

32:27that's kind of narrative

32:28that really makes me happy.

32:30And by default,

32:32like I want to have more of them,

32:34like any chance I can get on my podcast.

32:36I love that.

32:37Well, and we'll be linking the podcast

32:39on the blog section.

32:41We're going to stay on with Ulu

32:42for a couple more minutes,

32:43talk about some more technical things.

32:46And you can check out that blog

32:47at TangelicLife.org.

32:49But thank you so much for being here.

32:51It's so nice to hear you

32:52so passionate and so driven.

32:54And you explain things

32:55that are very technical really well.

32:57So I commend you for that

32:59because that can be quite hard.

33:01So we'll catch you guys on the next one.

33:03Make sure to check out the Energy Talk

33:05if you want more sustainable,

33:08green energy, green sector content.

33:11And we'll catch you guys on the next one.

33:13See ya.

33:13Let's talk power, let's talk change

33:23For rural lights to brighter days

33:26Equity rising, voices strong

33:29We're building tomorrow where we all belong

33:33Tangelic talks, energy, equity, pride

33:37Empowering the world side by side

33:40A spark becomes a fire

33:42A vision that's true

33:43Together we rise

33:45It starts with you

33:47Oh

33:53Oh

Storytelling Shapes the Energy Transition: Olubunmi Olajide on Powering Africa’s Clean Energy Future | Tangelic Talks S03E10

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