British International Investment, the United Kingdom’s development finance institution, in partnership with Odyssey, has launched a Seven point five million dollars financing facility to accelerate the deployment of mini-grids across Nigeria.
Report says the facility is expected to expand access to clean and reliable energy for underserved communities, strengthen Nigeria’s energy transition agenda, and support rural electrification initiatives.
According to the partners, the new funding will help developers scale up mini-grid projects, which are regarded as cost-effective solutions for electrifying off-grid areas, thereby fostering economic growth and improving livelihoods.
Speaking on the initiative, the Deputy British High Commissioner, Jonny Baxter, said the investment reflects the UK’s confidence in Nigeria’s clean energy sector.
Also speaking, BII’s West Africa Regional Director, Benson Adenuga, noted that mini-grids will be key to addressing Nigeria’s energy access gap.
