The International Finance Corporation (IFC) and Norway's Norfund are jointly providing up to $83.2 million in financing to expand off-grid and distributed energy systems in Nigeria, backing five renewable-energy firms in deploying 315 solar hybrid minigrid sites nationwide.
The five developers
The financing is split across:
- Darway Coast Nigeria Limited
- GVE Projects Limited
- Prado Power Limited
- PriVida Power Limited
- StarTimes Energy
Together, the rollout is projected to enable 494,189 new electricity connections — the bulk in rural communities currently un-served or under-served by the national grid.
Toward the 1,000 minigrid mark
Combined with the World Bank–funded DARES initiative, four federal-capital systems coming online under the Korea Energy Project, 39 mini-grids in the federal pipeline, and 23 more under the Africa Mini-grid Programme, Nigeria's national minigrid count could push past 1,000 active sites in 2026.
A typical site
A typical hybrid minigrid combines solar panels, lithium battery storage, local distribution lines, and smart prepaid meters — delivering power when it is needed rather than when the grid allows. For SMEs in agro-processing, light manufacturing, and cold storage, the difference between intermittent grid power and a reliable minigrid often determines whether a business stays open.