Nigeria has signed a $200 million agreement with WeLight to deploy renewable mini-grids, expanding electricity access in rural areas.
The initiative aims to increase Nigeria’s renewable energy share from 22% to 50%, attracting private investments for sustainable energy development.
Supported by the World Bank and the African Development Bank, the project will establish 400 mini-grids and 50 MetroGrids nationwide.
These installations are expected to provide electricity access to nearly two million people, improving livelihoods and boosting local economic activities significantly.
WeLight, backed by Axian Group, Sagemcom, and Norfund, signed a Memorandum of Understanding with Nigeria’s Rural Electrification Agency.
The agency is tasked with ensuring millions of Nigerians without access to electricity benefit from this ambitious renewable energy initiative.
“This MoU strengthens efforts to deliver clean electricity in Nigeria while advancing WeLight’s goal of becoming a pan-African company,” said Villeneuve.
