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Providing distributed renewable energy via solar hybrid minigrid solutions

Home » Portfolio » Providing distributed renewable energy via solar hybrid minigrid solutions
PRADO POWER LIMITED (“PRADO POWER”)

Providing distributed renewable energy via solar hybrid minigrid solutions Prado Power Limited (the “Company”) 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.

Providing distributed renewable energy via solar hybrid minigrid solutions

Prado Power Limited (the “Company”) 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.

Project Highlight

Prado Power Limited, through a special purpose company, is looking to develop and operate hybrid solar mini grids across four (4) communities (or sites) with a total Solar PV capacity of 850 kWp to serve up to 15,801 connections in Benue and Akwa-Ibom States. In addition to the provision of power to the communities, the Company has identified productive use activities (including threshing, hammer milling, dehusking, etc.) within these communities which would drive the demand for the power generated and is seeking to invest in the required productive use capex.

1.95

Billion Naira

Transaction Details

With InfraCredit’s guarantee, Prado Power was able to access the domestic capital markets for the first time and raised NGN1.95 Billion 7-year Guaranteed Fixed Rate Senior Green Infrastructure Sukuk.

“On November 22, 2024, Prado Power Limited (“Prado Power”) issued an  NGN 1.95 billion 7-Year Guaranteed Fixed Rate Senior Green Infrastructure Sukuk Due 2031 (“the Prado Power Green Sukuk”). The Sukuk is blended with NGN1.95 billion in first loss subordinated concessionary loan capital from the Foreign, Commonwealth, and Development Office  (FCDO).

Issue Date

22 November 2024

Co-Obligor

Prado Power Limited

Rental Amount (NGN)

1,950,000,000

Sector

Renewable Energy

Tenor

7-Year

Location of Operation

North-Central and South-South

Asset Size / Capacity

850kW

Investor Distribution

Development Impact

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