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 the first mini-grid business models, notably discussing the early micro power economy and the innovative split asset model. Throughout the episode, Jakob and Nico offer invaluable lessons from their extensive experience. They explore the regulatory challenges and innovative solutions in African markets, where frameworks initially struggled to keep pace with the rapidly emerging mini-grid technology. Hear their firsthand accounts of navigating the regulatory terrain, engaging with the Nigerian Electricity Regulatory Commission (NERC), developing rules that protect mini-grids from main grid encroachment, and contributing to the development of the interconnected mini-grid concept. They also discuss the synergy between mini-grids and healthcare infrastructure, exemplified by their impactful work in Sierra Leone post-Ebola crisis. As the dialogue unfolds, they examine the latest advancements, tracing the evolution from third to fourth-generation solar mini-grids and the achievement of vital profitability levels for scaling. The episode wraps up with strategic insights on mitigating demand risks for mini-grid operators. Learn about the innovative use of artificial intelligence and deterministic optimization in addressing these challenges, setting the stage for the future of mini-grid development. This episode is a must-listen for anyone keen on understanding the past, present, and future of the mini-grid business. It's packed with knowledge and insights from two of the industry's foremost experts.