CEESOLAR Energy Limited is a renewable energy company committed to deploying sustainable energy solutions including mini-grids and Stand-Alone Solar for Homes and Businesses across Nigeria.
The CEESOLAR Project is one of the transactions under InfraCredit’s Clean Energy Funding Programme which seeks to aggregate, de-risk and support eligible clean energy projects in Nigeria to contribute towards meeting the country’s 90% electrification goal by 2030 and the SDG 7 target of ensuring access to affordable, reliable, sustainable, and modern energy for all.
Project Highlight
CEESOLAR, through a special purpose vehicle, is looking to develop and operate four (4) solar mini grids in Cross River state with total capacity of 701kWp and up to 3,257 connections. The solar PV will be complemented by a battery storage system and inverter with capacities of 1,423kWh and 390kVA respectively as a backup energy source.The Company has signed Power Purchase Agreements (“PPA”) with the various communities to provide power for a tenor of 20 years.
1.7
Billion Naira
Transaction Details
The transaction was 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 synergy between the NSIA-funded CFWF and the FCDO-funded CFBF underscores InfraCredit’s integrated approach to bridging the financing gap for sustainable infrastructure projects across Nigeria.
The transaction was 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 synergy between the NSIA-funded CFWF and the FCDO-funded CFBF underscores InfraCredit’s integrated approach to bridging the financing gap for sustainable infrastructure projects across Nigeria.
|
Co-Obligor |
CEESOLAR ENERGY LIMITED |
|
Principal Amount Outstanding (NGN) |
1.7 Billion |
|
Sector |
Renewable Energy |
|
Location Of Operation |
South South Nigeria |
|
Asset Size/ Capacity |
701KW |
