- The InfraCredit local currency debt mobilisation for renewable energy projects expands access to clean, affordable power in rural communities.
- Through this initiative, Nigeria moves closer to universal electrification and Sustainable Development Goal 7.
InfraCredit, a ‘AAA’-rated infrastructure credit guarantee institution, has mobilised local currency debt to finance renewable energy projects in Nigeria. Working with the Climate Finance Blending Facility (CFBF), the organisation supported CEESOLAR Energy Limited’s debt issuance. This marks the fifth transaction under the facility.
The initiative is backed by the UK’s Foreign, Commonwealth and Development Office (FCDO) and British International Investment (BII). Together, they provided concessional funding and a counter-guarantee facility. As a result, the partnership highlights strong global cooperation and a shared commitment to advancing Nigeria’s clean energy transition.
The funds will support the construction of four solar hybrid mini-grids with a total capacity of 760 kWp in underserved communities across Cross River State. Once completed, these mini-grids will deliver reliable electricity to about 3,600 households and small businesses.
Additionally, the project will create over 560 jobs and reduce carbon emissions by 737 tonnes annually. Consequently, it supports Nigeria’s electrification targets and contributes to Sustainable Development Goal 7, Affordable and Clean Energy.
Furthermore, the Climate Finance Blending Facility has already shown significant progress. It has deployed ₦9 billion across four renewable energy developers, Darway, Hotspot, ACOB, and Prado.
Collectively, these projects have benefited more than 25,000 people, created 2,300 jobs, and installed 1.7 MW of off-grid solar capacity. In addition, the facility now manages a ₦243.31 billion project pipeline across 23 developers, reinforcing its catalytic role in attracting private capital.
Through this milestone, InfraCredit continues to demonstrate that innovative financing and strong partnerships can accelerate the adoption of renewable energy. Ultimately, the initiative expands access to clean energy, drives inclusive economic growth, and strengthens Nigeria’s journey toward a sustainable, low-carbon future.