Rural Electrification Agency Disburses N9 Billion for Mini-Grids
Analysis based on 12 articles · First reported Apr 05, 2026 · Last updated Apr 06, 2026
The market is positively impacted by the consistent capital injection into Nigeria's renewable energy sector, signaling growing confidence and accelerating electrification efforts. This development reinforces the role of local financing institutions like Lotus Bank in powering Nigeria's renewable infrastructure.
The Nigeria===Rural Electrification Agency (REA) has disbursed N9 billion (approximately $5.77 million) to support solar mini-grid projects across Taraba, Kwara, Kogi, and Niger States in Nigeria. This funding includes N7.95 billion to Havenhill for four mini-grid projects and N1.056 billion to Faraday & Otstred Limited for three mini-grid deployments. These allocations are part of the Distributed Access through Renewable Energy Scale-up (DARES) programme's Performance-Based Grant (PBG) framework, backed by a N100 billion Memorandum of Understanding with Lotus Bank. Nigeria===Rural Electrification Agency's Managing Director, Abba Aliyu, highlighted the consistency of capital deployment and growing confidence in Nigeria's renewable sector, emphasizing the agency's commitment to empowering local companies to drive the country's renewable energy growth.
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