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Nigeria Infrastructure Debt Fund (NIDF) will invest in Havenhill for the deployment of 22 mini-grids
- The African Development Bank (AfDB) was also involved in the latest funding round for Havenhill.
- Havenhill is also going to provide healthcare facilities with electricity services u
Nigeria Infrastructure Debt Fund (NIDF) will invest ₦1.8billion ($4.6million) in Havenhill to deploy 22 mini-grids under the Nigeria Electrification Project. The solar mini-grids are expected to provide electricity access to over 70,000 people and power SMEs and businesses in rural communities. As Nigeria increasingly adopt off-grid electrification for its rural communities, Havenhill is one company that is will help address the electricity challenges by deploying solar mini-grids in rural communities.
Anshul Rai, the CEO of NIDF, noted that it is fulfilling that the fund can significantly improve energy access in Nigeria. “NIDF prides itself in being the leader in financing clean energy and energy access projects in Nigeria and thus contributes to the achievement of the UN’s Sustainable Development Goals. In multiple projects, such as Havenhill, our unit-holders can see their capital in action and generating not only financial returns but also making a strong, positive impact on the daily lives of their fellow citizens”, Rai said.
Read also: Chapel Hill Denham Boosts Havenhill’s Mini-Grid Roll Out with $4.6M funding.
The African Development Bank (AfDB) was also involved in the latest funding round for Havenhill. Wale Shonibare, AfDB Director of Energy Financial Solutions, Policy & Regulation, believes that the investment would complement the Bank’s support to the federal government in implementing the Nigeria Electrification Project.
Havenhill will also provide healthcare facilities with electricity services under the Energising Healthcare Initiative of the USAID’s Power Africa Off-Grid Project (PAOP) and United States African Development Foundation (USADF).