Local Currency Blended Climate Finance for Renewable Energy Access in Nigeria.
ABOUT
The Climate Finance Blending Facility is a catalytic facility capitalised with USD21.3 million concessional funding by the UK Foreign, Commonwealth & Development Office (“FCDO”) and the British International Investment (“BIl”) to mobilise additional funding from development partners to co-finance off-grid clean energy investments alongside InfraCredit’s local currency guarantees in Nigeria.
Anchor Funders:
Co-Financing Partner:
Domestic Institutional Investors
Theory of Change
Clean Energy Access
Unlock affordable financing for private sector enterprises providing renewable energy solutions such as solar mini grids, solar home systems, solar lanterns, fridges, pumps, driers and clean cooking products, small medium enterprise coolhubs for unserved and underserved markets.
Domestic Institutional Investors
Catalyse green investments in local currency from domestic private institutional investors such as insurance companies, local pension funds, and other asset managers including low carbon energy focused funds from the domestic debt capital markets.
Development Assistance
Innovative blended finance approach for donors and concessional financiers, to make smart use of impact-seeking capital to de-risk, reduce the capital cost and mobilise private sector financing towards increasing clean energy access in Nigeria in line with Nigeria’s Nationally Determined Contributions
Green Economy
Theory of Change
Clean Energy Access
Unlock affordable financing for private sector enterprises providing off-grid energy solutions such as solar mini grids, solar home systems, solar lanterns, fridges, pumps, driers and clean cooking products, small medium enterprise coolhubs for unserved and underserved markets.
Domestic Institutional Investors
Catalyse green investments in local currency from domestic private institutional investors such as insurance companies, local pension funds, and other asset managers including low carbon energy focused funds from the domestic debt capital markets.
Development Assistance
Innovative blended finance approach for donors and concessional financiers, to make smart use of impact-seeking capital to de-risk, reduce the capital cost and mobilise private sector financing towards increasing clean energy access in Nigeria in line with Nigeria’s Nationally Determined Contributions
Green Economy
Promote green growth and climate resilient development by enhancing access to renewable energy for productive uses and boosting agricultural development whilst transitioning to a low-carbon economy that will create jobs, reduce poverty, promote gender diversity and stimulate local economic growth.
RECENT PROJECTS
Electrify Microgrid Limited
Deal Size:
₦3.6 billion
Financial Close:
August 2026
Project Status:
Under Construction
Sector:
Energy Supply (Renewable Energy)
4577 Number of
Connections
305 Jobs
to be Created
1500 Tonnes of emissions
to be reduced per year
609kWp
Capacity
Tenor
7 years
The Project will deploy nine mini-grids with a combined solar generation capacity of 609.0kWp across nine communities in Jigawa State, providing reliable electricity to approximately 4,557 residential, commercial and productive-use connections, reaching more than 20,000 people and 400 businesses. The solar PV systems will be supported by battery storage and inverter systems with estimated capacities of 2,685.0kWh and 770.0kW, respectively, to provide backup energy.
In April 2025, EML entered into a Joint Developer Agreement (JDA) with the Distributed Renewable Energy Enhancement Facility (DREEF) LLC* to strengthen the bankability, technical robustness, and investment readiness of its mini grid pipeline. This partnership significantly enhances the Company’s institutional depth and supports its AssetCo operating model, positioning EML to deliver technically sound, commercially viable, and investment-ready mini grid projects that meet lender and funder requirements.
*DREEF, is a specialised project development facility designed to eliminate operational and financial hurdles faced by Distributed Renewable Energy (DRE) projects. Its mandate is to accelerate access to long-term local currency capital and support DRE developers in transitioning into fully mature Renewable Energy Service Companies (RESCos).
Magnificent Catalytic Inclusions Limited
Magnificent Catalytic Inclusions Limited
Financial Close
April. 2026
Under
Construction
N2.0b Private
Capital Mobilised
710KW
Capacity
7,032 Number
of Connections
1,095 Jobs to be Created
2000 Tonnes of GHG emissions to be reduced per year
The project will construct 710kWp total capacity of solar-hybrid mini-grid in four communities without grid access within Benue and Kogi states, that will connect 7,032 households and small businesses. Construction is planned to commence in 2026 and commercial operations for 2027. Magnificent Catalytic Inclusions Limited delivers decentralised clean energy across Nigeria. To date, the Company has constructed and currently operates three (3) mini-grids with a combined PV capacity of 97kWp, providing electricity to approximately 270 connections across Kogi and Enugu states.
First Electric Power and Automation Services Limited
First Electric Power and Automation Services Limited
Financial Close
Dec. 2025
Under
Construction
N1.70b Private
Capital Mobilised
725KW
Capacity
5,156 Number of Connections
616 Jobs to be Created
762 Tonnes of GHG emissions to be reduced per year
The project will construct 725kWp total capacity of mesh grid electricity networks in 20 communities without grid access across Gombe, Nasarawa and Ondo states, that will connect 5,156 households and small businesses. Construction is planned to commence in 2025 and commercial operations for 2026. First Electric Power and Automation Services Limited delivers decentralised clean energy across Nigeria, with 800kWp installed since 2017. Its mini-grids and stand-alone solar systems now serve over 250 active Energy-as-a-Service (EaaS) connections across Lagos, Abuja, and Ondo States.
CEESOLAR Energy Limited
Green Finance for Off-Grid Rural Electrification in Nigeria
Financial Close
Nov. 2025
Under
Construction
N1.70b Private
Capital Mobilised
760KW
Capacity
3,597 Number of Connections
561 Jobs to be Created
737 Tonnes of GHG emissions to be reduced per year
The project will construct 760kWp total capacity of solar-hybrid mini-grid in four communities without grid access within Cross Rivers state, that will connect 3,597 households and small businesses. Construction is planned to commence in 2025 and commercial operations for 2026. CEESOLAR Energy Limited delivers decentralised clean energy across Nigeria, with 729.5kWp installed since 2017. Its mini-grids and stand-alone solar systems now serve over 695 connections in seven states and the Federal Capital Territory (FCT).
Prado Power Energy Limited
Green Finance for Off-Grid Rural Electrification in Nigeria
Financial Close
Oct. 2024
Under
Construction
N1.95bn Private
Capital Mobilised
Green
Certified
850kW
Capacity
15,801 Number of Connections
740 Jobs to be Created
893.53 Tonnes of GHG emissions to be reduced per year
The project will construct solar-hybrid mini grid with a total capacity 850kWp in four communities without grid access across Akwa-Ibom and Benue State. The mini grids are expected to connect about 15,801 households, small businesses and agro-processors. The project is expected to commence commercial operations by 2025. Prado Power Limited is a renewable energy company founded in 2014 to provide electricity access to unserved and underserved communities in Nigeria. The Company also provides Engineering, Procurement & Construction (EPC) and consultancy services on renewable energy projects.
Hotspot Network Limited, Nigeria
Green Finance for Sustainable Rural Telephony
Financial Close Jun. 2023
Under Construction
₦955m Private Capital Mobilised
Green Certified
324kw Capacity
120 Sites
720 Jobs to be Created
8.34 Tonnes of GHG Emissions to be reduced
The project will construct, install and commission solar powered base stations (sites) in 120 communities across 22 States in Nigeria. Hotspot is a telecommunication infrastructure and solar-powered rural telephony network provider, using renewable energy and climate-smart technology in operating telecom sites in off-grid rural parts of Nigeria. Under the Project, Hotspot established the special purpose vehicle, Micropolitan Mobile Connectivity Limited to raise local currency finance from the debt capital markets, to build, own, and operate solar-powered mobile network base stations in select rural communities in collaboration with MNOs in Nigeria.
BUSINESS MODEL
PROJECT PIPELINE
EXPECTED IMPACT
Number of Communities
Jobs
to be Created
(USD 282 Mln) Private capital mobilised
(USD 34.4 Mln) Private capital mobilised
CREDIT APPROVED PIPELINE PROJECTS
EXPECTED IMPACT
No. of Projected Connections to Energy Access
18.66
Projected Capacity (MW) to be installed
Number of Communities
to be Created
76207
CLOSED PROJECTS
The 4 Closed Projects will report on energy access, number of connections, MW installed and private finance mobilised, and will have a positive contribution to the following United Nations Sustainable Development Goals (SDGs)
EXPECTED IMPACT
No. of Projected Connections to Energy Access
Number of Communities
to be Created
URBAN PIPELINE PROJECTS
EXPECTED IMPACT
Projected Capacity (MW) to be installed
Number of Communities
to be Created
URBAN CREDIT APPROVED PIPELINE PROJECTS
EXPECTED IMPACT
Number of Households and Businesses
Projected Capacity (MW) to be installed
Local Government Area
to be Created
No. of Projected Connections to Energy Access
Geographical Distribution
Collectively, renewable energy projects located in 35 states across the six geo-political zones in Nigeria have been approved for co-financing by the Facility.
Aiming for Net Zero
The Facility will use its impact seeking capital to blend the cost of Eligible Green Projects aimed at fulfilling two main environmental objectives: climate change mitigation and energy transition to a low-carbon economy.
Energy Efficiency
Energy-efficient appliances and equipments that lead to reduced energy consumption.
GHG Emissions Reduction
Renewable Energy Projects that reduce or avoid annual GHG emissions in tons of CO2 equivalent
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Featured Videos
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How It Works
The Facility will use its impact-seeking capital to provide blended first loss and low-interest funding to eligible renewable energy companies
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Development Impact
Private capital invested is ploughed back into the local economy creating a continuous cycle of job growth and innovation
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Projects
The projects will report on energy access, number of connections, jobs created, MW installed, gender inclusion, emissions avoided and private finance mobilised.
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Eligibility Criteria
Got a project? Check our eligibility criteria on how we choose, and conduct a self-assessment
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