The Federal Government, through the Nigeria Sovereign Investment Authority, and its development partners have commercially launched a $300 million investment fund aimed at expanding off-grid electricity and distributed renewable energy projects across Nigeria.
The Nigeria Distributed Renewable Energy Fund, jointly managed by the NSIA and Africa50, is expected to mobilise public and private capital for mini-grids, standalone solar systems and other decentralised electricity projects, particularly in communities and businesses underserved by the national grid.
The NSIA, Africa50 and Sustainable Energy for All announced the commercial launch on the sidelines of the United Nations General Assembly, according to a statement issued by the NSIA on Monday.
The partners said the launch marked the transition of the $300m fund from its structuring phase to active capital deployment, providing a dedicated financing platform for investments in Nigeria’s distributed renewable energy market.
The initiative comes amid Nigeria’s persistent electricity supply deficit, which has forced
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