A EUR 30 million country window dedicated to the Nigerian renewable energy market.
ElectriFI will focus on new and improved connections to electricity for populations living principally in rural, under-served or unreliably-served areas. The investment strategy will target captive power producers servicing commercial and industrial off-takers in urban areas, and on solar home systems and mini-grids developers and operators in rural areas.
Nigeria is the largest economy in sub-Saharan Africa, but limitations in the power sector constrain growth. While it has the potential to generate more than 12,000 MW of electric power from existing plants, is it usually able to generate only a third of it. Nigeria has an electrification rate of 45%. Households without power amount for 20 million and 90 million people live entirely off the grid.Renewabable energy offers great opportunities as in 2017, grid-connected renewable energy capacity was 2.6MW and off-grid capacity: 1.5MW.
“With ElectriFI Nigeria, the European Union allocates €30 million of investment capacity to partner with Nigerian businesses and project developers working to increase energy access from sustainable energy sources“. H.E. Ketil Karlsen, Ambassador of the EU in Nigeria