The International Finance Corporation (IFC) and the Government of Canada have announced a $5 million investment in Husk Power Energy Systems Nigeria Limited (Husk Nigeria), bringing clean, affordable electricity to underserved communities across northern Nigeria.
The funding will support the construction and operation of 108 solar hybrid mini-grids that will provide reliable power to approximately 115,000 people and businesses. The initiative is expected to result in around 28,750 new electricity connections and reduce dependence on diesel generators cutting both costs and carbon emissions.
This investment is the first under the Distributed Access through Renewable Energy Scale-up (DARES) Platform, a new $200 million IFC-led facility designed to scale private sector renewable energy projects across West and Central Africa. It complements the $750 million Nigeria DARES Project, backed by the World Bank and implemented by the Rural Electrification Agency, which aims to reach over 17.5 million Nigerians with decentralized energy systems.
For communities long stuck in energy poverty, this investment offers more than just light. It brings the potential for small businesses to grow, clinics to operate consistently, and children to study at night.
“This is more than just infrastructure it’s about opportunity,” said [Ethiopis Tafara, Regional Vice President for Africa], IFC.
“By backing Husk Power through the DARES Platform, we’re laying the groundwork for a sustainable energy model that empowers local economies and improves lives.”
The $5 million package includes a $2.5 million senior loan from IFC and a $2.5 million concessional loan from the Canada-IFC Renewable Energy Program for Africa. Structured as a revolving facility, Husk will be able to repay and reuse the funds over time, accelerating the pace of rollout.
Husk Power, a global leader in renewable mini-grids, has ambitious plans in Nigeria. With this support, it’s one step closer to its goal of deploying 250MW of decentralized energy capacity nationwide.
“Affordable, long-term financing like this is exactly what the mini-grid sector needs to scale,” said Husk CEO Manoj Sinha.
“It enables us to grow faster and serve more communities that have been left in the dark for too long.”
“With IFC’s support, we are adding 108 new communities to our network,” added Olu Aruike, Husk Nigeria’s Country Director.
“It’s a big step in our mission to power rural Nigeria sustainably.”
Nigeria, despite being Africa’s largest economy, has the world’s largest electricity access deficit. Over 85 million people still live without power, and millions more rely on expensive, polluting diesel generators due to poor grid reliability.
The DARES Platform also aligns with the Mission 300 campaign launched in April 2024 by the World Bank and the African Development Bank, which aims to connect 300 million Africans to electricity by 2030. Gender inclusion is also a key component of the project, with a special focus on supporting women-led businesses, female-headed households, and job creation for women in the energy sector.
As implementation begins, the light at the end of the tunnel is becoming more real for many rural Nigerians one solar panel, one mini-grid, and one powered village at a time.
