- Exim loans Sun Africa $1.5billion for solar electrification in Nigeria.
The Nigerian government and the American company Sun Africa recently signed a contract to install solar energy production equipment in a dozen underserved areas of the country. The project will be implemented owing to a $1.5 billion loan from Exim Bank.
Sun Africa will deploy several renewable energy projects, mainly solar photovoltaic stations, over twenty years. Regarding the contract, the President of the Republic of Nigeria noted thus, “the federal government is continuing to work with the private sector to improve access to energy, create jobs, and develop the industry.” Still, he has not yet disclosed the technical information or the communities that will benefit from these investments.