Energy Capital & Power

Germany’s DFI Grants Funding for Solar Micro-Grids in Nigeria 

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DEG, Germany’s development finance institution, has awarded $750,000 in funding to U.S.-based Husk Power Systems for the construction of eight community solar micro-grids in Nigeria.

The loan is the first debt raised by Husk Power Systems for its Nigerian portfolio and falls under the DEG’s Up-Scaling Program. 

Through the Up-Scaling Program, DEG finances innovative investments of small and medium-sized enterprises in developing countries in partnership with Germany’s Federal Ministry for Economic Cooperation and Development. According to a press release from Husk Power Systems, the company currently operates 12 micro-grids in Nigeria and is aiming to expand this number to 500 by 2026.

The off-grid market in Nigeria has rapidly expanded in recent years, able to deliver electricity to rural and dispersed populations, help meet carbon reduction goals and avoid the construction of capital-intensive transmission lines.

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Grace Goodrich

Grace Goodrich

Grace Goodrich is a Publications Editor at Energy Capital & Power, where she writes about the intersection of energy, policy and global finance in sub-Saharan Africa's fastest-growing economies. Grace produces our Africa Energy Series investment reports in Angola and Equatorial Guinea (2019), as well as co-authored African Energy Chamber: Road to Recovery (2021).