In partnership with the Canadian government, the International Finance Corporation (IFC) announced on Thursday, May 15, 2025, an investment of $5 million in Husk Power Energy Systems Nigeria Ltd. This agreement will make it possible to deploy up to 108 hybrid solar mini-grids in the north of the West African country.

The financing granted by IFC and Canada marks the first operation of the DARES mechanism, a $200 million credit facility launched by IFC to accelerate decentralized access to energy in West and Central Africa. The aim is to provide clean and reliable electricity to around 115,000 people and businesses through 28,750 new connections. The project is part of the dynamics of the DARES Nigeria program, financed by the Banque mondiale , which aims to improve access to electricity for 17.5 million people. It reinforces Husk Power's presence in Nigeria, which is already active through several partnerships, including an agreement signed in April 2025 with Olam Agri to supply a rice factory in Nasarawa State via a solar power plant with storage. é The û total cost of the project is estimated $25 million. é The ' $5 million envelope announced includes a pr ê t senior of $2.5 million financed directly by IFC, and a $2.5 million subordinated concession loan provided by the Canada-IFC Renewable Energy Program for

According to the director of Husk Nigeria, “access to working capital is essential for rapid and sustained growth. The addition of 108 new communities to our mini-grid portfolio with support from IFC is an important step towards our goal of deploying at least 250 MW of decentralized renewable energy projects in