“From left: Managing Partner, Barton Heyman Limited, Olumide Lala; Head, Renewable Energy, First City Monument Bank (FCMB), Mr Olujide Adesanya; Managing Director, Rural Electrification Agency (REA), Mr Abba Aliyu; Chief Investment Officer, ARM Harith Infrastructure Investment Limited (ARMHIIL), Mr Derek Chime and Senior Partner, Barton Heyman Limited, Mr Anthony Feyitimi, at the launch of the Green Finance Investment Facility (GFiF), a blended finance mechanism designed to mobilise funds for renewable energy.
Nigeria’s drive toward sustainable energy development received a major boost as the Rural Electrification Agency, in partnership with First City Monument Bank, ARM Harith Infrastructure Investment Limited and other strategic stakeholders, officially launched the Green Finance Investment Facility (GFiF), a groundbreaking blended finance platform designed to unlock large-scale investment into distributed renewable energy infrastructure across the country.
The facility, valued at approximately $188 million, is expected to finance about 191 megawatts (MW) of solar energy capacity, targeting underserved communities, businesses, educational institutions, healthcare facilities, and productive economic clusters across Nigeria.
The launch ceremony, attended by top government officials, financial institutions, infrastructure investors, and renewable energy experts, marked a significant milestone in Nigeria’s energy transition agenda and efforts to close the country’s electricity access gap through private-sector-driven clean energy solutions.
Among dignitaries present at the event were Abba Aliyu; Olujide Adesanya; Derek Chime; Olumide Lala; and Anthony Feyitimi.
Catalysing Nigeria’s Clean Energy Transition
Speaking during the unveiling, Managing Director of the REA, Abba Aliyu, described the Green Finance Investment Facility as a strategic intervention aimed at attracting institutional and private capital into Nigeria’s renewable energy ecosystem.
According to him, the initiative reflects the growing confidence of investors in Nigeria’s clean energy market and the Federal Government’s commitment to accelerating energy access through innovative financing structures.
Aliyu noted that millions of Nigerians still lack reliable access to electricity, particularly in rural and semi-urban communities, stressing that distributed renewable energy solutions remain critical to addressing the nation’s persistent power deficit.
He explained that the GFiF would provide long-term, flexible financing for renewable energy developers and infrastructure investors, while reducing the risks often associated with energy infrastructure projects in emerging markets.
“The Green Finance Investment Facility is designed to mobilise capital at scale, de-risk investments, and accelerate the deployment of sustainable energy infrastructure capable of transforming lives and driving economic productivity,” he said.
Blended Finance Structure to Attract Investors
Industry experts at the launch explained that the GFiF adopts a blended finance model that combines concessional funding, commercial capital, and institutional investments to improve project bankability and attract wider participation from local and international investors.
The facility is expected to support mini-grid systems, commercial and industrial solar projects, embedded power solutions, and other distributed renewable energy infrastructure capable of expanding electricity access beyond the national grid.
Stakeholders said the financing platform would also create opportunities for pension funds, development finance institutions, commercial banks, climate funds, and impact investors seeking sustainable infrastructure investments with measurable economic and environmental returns.
Head of Renewable Energy at FCMB, Olujide Adesanya, emphasised the importance of collaboration between financial institutions and public sector agencies in addressing Nigeria’s energy financing gap.
He noted that access to affordable financing remains one of the biggest barriers confronting renewable energy developers in the country, adding that the GFiF would help unlock critical capital needed to scale clean energy deployment nationwide.
Boost for Economic Growth and Rural Development
Analysts believe the initiative could significantly accelerate economic growth by improving power supply to businesses, schools, hospitals, agricultural clusters, and small enterprises that depend heavily on expensive diesel generators for electricity.
The project is also expected to contribute to job creation, environmental sustainability, and reduced carbon emissions as Nigeria intensifies efforts to diversify its energy mix and meet global climate obligations.
Chief Investment Officer of ARM-Harith Infrastructure Investment Limited, Derek Chime, said the launch signals growing investor appetite for infrastructure assets that deliver both financial returns and developmental impact.
He noted that renewable energy infrastructure has become increasingly attractive to long-term investors seeking resilient and sustainable investment opportunities in Africa’s largest economy.
Strengthening Nigeria’s Energy Security
The Green Finance Investment Facility comes at a time when Nigeria continues to grapple with unstable grid electricity, rising energy costs, and increasing demand for alternative power solutions from households and businesses.
Experts say the initiative aligns with the Federal Government’s broader energy transition strategy and could play a critical role in improving energy security, boosting industrial productivity, and supporting inclusive economic development.
The launch further reinforces Nigeria’s ambition to position itself as a leading renewable energy investment destination in Africa through innovative public-private sector partnerships and sustainable financing mechanisms.
The Rural Electrification Agency, FCMB and ARM-Harith have unveiled the $188 million Green Finance Investment Facility to mobilise private investment into Nigeria’s renewable energy sector and finance 191MW of solar capacity nationwide.
Discover more from Ameh News
Subscribe to get the latest posts sent to your email.
