Nigeria has signed a $200 million agreement with WeLight, a pan-African Distributed Renewable Energy (DRE) company, to deploy hundreds of renewable mini-grids across rural and peri-urban communities. This ambitious project aims to bring reliable electricity to millions of Nigerians, especially in underserved regions.
The initiative, supported by the World Bank and the African Development Bank, is part of Nigeria’s strategy to boost its renewable energy capacity from 22% to 50% of its electricity mix. Through the installation of 400 mini-grids and 50 MetroGrids, the project is expected to provide power to 1.5 to 2 million people, stimulating local economies and improving living standards.
This deal is a crucial step toward Nigeria’s broader goal of enhancing its renewable energy infrastructure and securing private investment for sustainable growth in the energy sector.
Source: World Bank, African Development Bank
