The Rural Electrification Agency (REA) and Lotus Bank N100 billion Memorandum of Understanding (MoU) is set to power a 7MW mini-grid in Ebonyi State that will provide renewable power to more than 30,000 homes and businesses.
Under the partnership, Ventura Logistics Services secured N7.4 billion in financing to deploy renewable energy infrastructure across eight key sites in Ebonyi State.
This funding, backed by the Distributed Access through Renewable Energy Scale-up (DARES) Program’s Performance-Based Grant (PBG) framework, marks the first major drawdown from the Lotus Bank facility.
The deployment will reach across the communities of Okposi, Mebiokpa, and Ohaozara within the Ohaozara Local Government Area, extending to Ebunwana in Edda Local Government Area, according to a statement by the agency.
Additionally, the project will cover Unwana and Afikpo in Afikpo North, as well as Iboko in the Izzi Local Government Area.
Reacting to the speed of the deployment, the Managing
Abba Aliyu, Director of the REA, emphasized that this milestone is evidence that the agency is actively working on partnerships that deliver real and tangible results to Nigerians.
According to Aliyu, this specific project stands as a prime example of how strategic alignment can yield immediate benefits for the public.
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