March 20 (Renewables Now) - The African Development Bank (AfDB) and the Africa Growing Together Fund (AGTF) are jointly providing USD 200 million (EUR 186.1m) in financing to direct private sector investments into mini-grid and off-grid solutions, including solar, in Nigeria.
The AfDB has said the financing will support the National Electrification Project (NEP) it recently launched with the Nigerian government to address energy poverty in underserved communities.
The NEP project will reach more than half a million people, providing them with around 76.5 MW of installed power, of which 68 MW will be solar generated, according to the press release.
The project will be implemented by Nigeria’s Rural Electrification Agency as part of efforts to achieve universal energy access by 2030.
(USD 1.0 = EUR 0.93)