Nigeria and WeLight Sign $200 Million Deal for Renewable Mini-Grids Expansion

Nigeria has signed a significant $200 million agreement with WeLight, a pan-African Distributed Renewable Energy (DRE) company, to deploy renewable mini-grids across the country. This initiative, aimed at enhancing electricity access in rural and peri-urban areas, marks a major step in the country's transition to clean energy.

The deal will see the development of 400 mini-grids and 50 MetroGrids, supported by the World Bank and the African Development Bank. These grids are expected to provide electricity to an estimated 1.5 to 2 million people in underserved regions, contributing to economic growth and improved quality of life.

The Memorandum of Understanding (MoU) was signed by WeLight's CEO, Romain de Villeneuve, and Nigeria's Rural Electrification Agency (REA). The agency is responsible for expanding electricity access to Nigerians who do not have grid connections.

The project aligns with Nigeria's goal of increasing the share of renewables in its electricity mix from 22% to 50%. It also represents an effort to attract private investment and accelerate the country's clean energy transition.

This partnership not only aims to improve energy access but also supports WeLight's ambition to expand its footprint across Africa, contributing to the broader goal of advancing renewable energy solutions across the continent.

Source: solarquarter.com