In a significant step toward renewable energy expansion, the International Finance Corporation (IFC), alongside the Canadian government, has announced a $5 million investment in Husk Power Systems Nigeria. It’s meant to deploy solar hybrid mini−grids in underserved communities.
The Deal, signed in Abidjan on May 13th, marks the first project under IFC’s 250 million DARES Platform, aimed at scaling decentralized renewable energy across West and Central Africa.
The funding will help Husk Power install 108 mini-grids, bringing electricity to 115,000 people and businesses in Northern Nigeria, a region where 85 million Nigerians still live without reliable power. By replacing polluting diesel generators, the project promises 25% cost savings for users while cutting emissions.
Yet, as solar energy gains traction, critics argue that $5 million is a drop in the ocean for a country with such vast energy poverty. While the initiative aligns with the World Bank’s “Mission 300”, targeting 300 million Africans by 2030, activists demand bolder, faster action to phase out fossil fuels entirely.
Olu Aruike, Husk Nigeria’s Country Director, hailed the deal as a “critical step” toward scaling renewables. But with Nigeria’s energy deficit still among the worst globally, the question remains: Will these investments reach those who need them most—and fast enough?
The sun is rising on Nigeria’s energy future, but the race against darkness is far from over.
Add a Comment