- Solar PV
- Business model
Contract Signature date: July 2019
Total ElectriFI Financing: 0.75 M EUR
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
Project overview: Green Village Electricity (GVE) is considered as the first and foremost mini-grid developer in Nigeria and it is supported by various local and international institutions. GVE’s business footprint covers the design, sales, installation and maintenance of renewable energy solutions for residential, commercial, industrial and rural off-grid or under-served communities through commercially sustainable business models in line with our clients’ needs. ElectriFI will support the completion of 17 projects benefiting communities who had either no access to electricity or access to costly and polluting gensets.
Funding objective and impact: ElectriFI finances the construction and operations of rural mini-grids across Nigeria, and contributes to the finalization of the First Phase of the Company’s medium term expansion plan which consists in the development and operations of 17 mini-grid sites for a total of 800kWp and about 4,000 new electricity connections.
Why ElectriFI wants to fund this project:
This project perfectly fits with ElectriFI’s mandate of financing new clean and reliable electricity connections in challenging environment. ElectriFi’s additionality is high as mini-grids are not yet financed by commercial banks and the sector is not attracting yet the same level of capital as other off-grid electrification sectors may.
GVE at a glance
- Number of beneficiaries
- Annual output (MWh/y)
- GHG avoidance (tCO2eq/y)