- Nearly 500000 households and businesses to gain access to renewable electricity.
- US$83.2 million financing to support mini grids and distributed energy rollout.
- 2.9 million people to benefit from 315 solar hybrid mini grid installations.
Nearly 500000 households and businesses in underserved communities across Nigeria are set to gain access to reliable and renewable electricity under a new initiative led by the International Finance Corporation in partnership with Norfund.
The programme aims to scale off grid and distributed energy solutions, supporting economic activity, strengthening small enterprises, and driving job creation across local value chains.
Five Renewable Energy Service Companies including Darway Coast Nigeria Limited, GVE Projects Limited, Prado Power Limited, PriVida Power Limited, and StarTimes Energy will implement the rollout, focusing on last mile power access for communities not connected to the national grid.
To accelerate deployment, IFC and Norfund are providing a combined financing package of up to US$83.2 million. This includes US$35.3 million in concessional debt sourced from the IDA Private Sector Window Blended Finance Facility and IFC concessional capital.
The investment forms part of a broader push by the World Bank Group to expand energy access across Africa. Total capital expenditure for the supported projects is estimated at US$271 million, enabling the rollout of 315 solar hybrid mini grids and connecting approximately 2.9 million people to electricity.
Ethiopis Tafara, IFC Regional Vice President for Africa, said access to electricity remains fundamental to jobs and economic growth, adding that targeted investment and strong partnerships are critical to scaling proven solutions that strengthen local economies and expand opportunity.
Sanyade Okoli, Special Adviser to the President on Finance and the Economy in Nigeria, said closing the country’s electricity access gap requires scalable and sustainable solutions aligned with national priorities, noting that partnerships of this nature are key to accelerating access while supporting economic growth and job creation.
Mark Davis, Executive Vice President for renewable energy at Norfund, said the collaboration will help unlock additional investment into the sector while supporting high impact energy access projects and building a more resilient and inclusive energy market.
Henry Ureh, Chief Executive Officer of Darway Coast Nigeria Limited, said improved access to reliable electricity will enable the company to expand operations, support local businesses, and create jobs across the communities it serves.
Nigeria, Africa’s largest economy, continues to face a major energy access deficit, with more than 85 million people lacking electricity. The shortfall constrains productivity, limits private sector expansion, and restricts job creation, particularly in rural and underserved areas.
Even among grid connected users, supply remains inconsistent, leading to widespread reliance on costly and high emission diesel generation.
The initiative is expected to reduce energy costs, improve reliability, and support income generating activities by expanding distributed renewable energy systems.
The platform complements the World Bank Nigeria DARES programme and reflects a coordinated approach to mobilising private sector investment through aligned public and private sector interventions.
By expanding access to reliable electricity for productive use, the programme is positioned to support inclusive growth, create jobs across the energy value chain, and unlock new opportunities for small businesses, including women led enterprises.
Author: Bryan Groenendaal
