The International Finance Corporation, IFC, in collaboration with the Government of Canada, has committed a $5 million investment to Husk Power Systems Nigeria to expand access to clean and reliable electricity through solar hybrid mini grids in underserved parts of the country.
Disclosed in a statement on Thursday, the investment is the first under IFC’s new Distributed Access through Renewable Energy Scale-up Platform—a \$200 million debt facility aimed at accelerating private sector-led energy access in West and Central Africa.
The platform works in synergy with the World Bank-backed Nigeria DARES Project, a \$750 million national electrification programme launched in 2023 and implemented by Nigeria’s Rural Electrification Agency.
The latest funding will enable Husk Nigeria to develop and operate up to 108 new solar hybrid mini-grid sites across Northern Nigeria, providing electricity connections for around 115,000 people and small businesses.
The effort is expected to result in roughly 28,750 new connections, making a significant dent in the country’s energy access gap.
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With an estimated project cost of \$25 million, IFC’s contribution includes a \$2.5 million senior loan and a \$2.5 million concessional subordinated loan through the Canada-IFC Renewable Energy Programme for Africa.
The facility is structured as a revolving loan, which means Husk can draw, repay, and re-draw funds as the project progresses—allowing for agile expansion and rapid scaling.
Ethiopis Tafara, IFC’s Regional Vice President for Africa, described the DARES Platform as a transformative mechanism for addressing one of the continent’s most critical development issues—energy access. “This project goes beyond lighting homes; it powers economies and uplifts entire communities,” Tafara stated.
Manoj Sinha, Husk’s Co-Founder and CEO, hailed the initiative as a game-changer for the renewable energy sector in Africa. “Affordable, long-term, and blended finance like this is essential for mini-grid developers to scale operations sustainably,” he said.
Olu Aruike, Country Director of Husk Nigeria, added that the initiative marks a significant milestone in their mission to deploy 250MW of decentralised renewable energy across Nigeria. “With this support, we are moving closer to energising hundreds of communities that have been left off the national grid,” he said.
In addition to clean energy expansion, the DARES Platform promotes gender inclusion by prioritising female-led businesses, women-headed households, and job creation for women in the renewable energy value chain.
The initiative is part of the World Bank Group and African Development Bank’s broader “Mission 300” campaign, launched in April 2024, which aims to connect 300 million Africans to electricity by 2030.
The project underscores how collaborative efforts between development institutions and the private sector can yield scalable, sustainable solutions to Africa’s energy crisis—paving the way for a more inclusive and climate-resilient future.
NAN
