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
Project Description
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).
- Rural Electrification
- Rural Telephony
- Rural Electrification & Rural Telephony
- Mini Grids - Markets
- Default
Financing StructureThe project was financed through a blended instrument, with the UK funded Climate Finance Blending Facility enabling a 7-year fixed rate local currency debt financing for the project by investing in the subordinated debt tranche.
The transaction was further supported by InfraCredit’s Construction Finance Warehouse Facility (CFWF) — a bridge financing instrument funded by the Nigeria Sovereign Investment Authority (NSIA) which enables developers to access short-term construction liquidity ahead of long-term refinancing through InfraCredit-guaranteed bonds
The project on completion will electrify up to 3,597 unserved households and small businesses, create up to 561 temporary and permanent jobs whilst enhancing access to renewable energy for productive uses, and avoid 737 tCO2e of GHG emissions.
The 4 hybrid-solar mini-grids will have environmental benefits of climate change mitigation, energy savings and greenhouse gas reduction and simultaneously have a positive direct contribution to the United Nations Sustainable Development Goals (SDGs) 7, 8, 9, 11, 13 and 17 as identified in the Green Bond Framework.
Technical Assistance Support
funded the upfront due diligence costs for the Project through its technical assistance facility for climate aligned infrastructure bonds established with InfraCredit