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
Project Description
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).
- 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 over 20,000 people and 400 new businesses, create up to 305 jobs, including 35% for women, whilst enhancing access to renewable energy for productive uses, and avoid approximately 1,200–1,500 tCO2e of GHG emissions annually.
The 9 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) 3, 7, 8 and 13 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
funded the upfront productive use assessment costs for the Project through its technical assistance facility for climate aligned infrastructure bonds established with InfraCredit.
Rating Agency
Green Verifier
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