Nigeria has secured a $200 million agreement with WeLight, a pan-African Distributed Renewable Energy company, to bring electricity to millions of people living in rural communities.
The deal will deploy hundreds of renewable mini-grids across the country, providing reliable power to rural areas and communities surrounding urban centres.
For Nigeria, Africa’s most populous nation, this agreement represents a significant step toward increasing its renewable energy share from 22% to 50% of its total electricity mix. The country is actively seeking private investment to finance this energy transition.
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With backing from the World Bank and the African Development Bank, the project will develop and operate 400 mini-grids and 50 MetroGrids throughout Nigeria’s rural regions. These installations are expected to provide electricity access to approximately 1.5 to 2 million people and stimulate local economic growth.
WeLight, which is supported by major international organizations including Axian Group, Sagemcom, and Norfund, signed the Memorandum of Understanding on Monday with Nigeria’s Rural Electrification Agency. This government agency is responsible for helping millions of Nigerians who currently lack electricity access.
“This MOU not only represents a leap toward providing clean electricity to millions in Nigeria but also supports WeLight’s ambition to become a truly pan-African company,” said Romain de Villeneuve, Chief Executive Officer of WeLight in a statement.
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