Firm, IFC sign deal to build 500 mini-grids in three years

Virtuitis Solaris (VS), a subsidiary of MOJEC International Holdings, has announced that it will deploy 500 mini-grids over the next two years, beginning with 100 in the first year.

The initiative aims to connect at least 200,000 customers across 10 to 15 states in Nigeria, significantly improving electricity access in underserved areas.

Speaking at the signing of a partnership agreement with the International Finance Corporation (IFC) during the recently concluded Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, Chantelle Abdul, group managing director of MOJEC Group and chief executive officer of Virtuitis Solaris, said,

“We are proud to be part of this transformative initiative that aligns with the Nigerian government’s vision to enhance energy access. This partnership with the IFC underscores the critical role of development partners in supporting Distributed Energy Solutions (DES) programs, ensuring that clean, reliable electricity reaches those who need it most.”

The partnership aims to accelerate the rollout of mini-grid projects across Nigeria as part of the IFC’s broader initiative to support distributed renewable energy (DRE) companies in closing the country’s electricity access gap while transitioning to a sustainable and economically viable power supply.

Virtuitis Solaris is also a key participant in the World Bank-funded Nigeria Distributed Access through Renewable Energy Scale-Up Programme (Nigeria DARES), implemented by the Rural Electrification Agency (REA).

Through this programme, the company is set to deliver clean and reliable electricity to up to 400,000 households across underserved communities.

Building on its existing commitments, the company signed a Memorandum of Understanding (MoU) with the REA in October 2024, in which it was selected as one of 22 developers responsible for deploying decentralised renewable energy projects across nine states in Nigeria.

Abdul further commended the IFC’s role in supporting renewable energy expansion through bridge financing, stating, “This financing enables companies like Virtuitis Solaris to fund capital expenditures (CAPEX) and establish the necessary physical infrastructure for developing the proposed mini-grid sites, thereby creating a meaningful impact on communities”.

“The Mission 300 agenda, as outlined by the Minister of Finance, is a cause we deeply resonate with, and we are committed to playing our part in connecting 300 million Africans, including Nigerians, to electricity,” she added.