Universal Energy to Launch Grants for Solar Projects across Nigeria Today

The Universal Energy Facility (UEF) – a results-based financing facility managed by Sustainable Energy for All – has announced that it will provide grants to renewable energy companies who applied to have their projects financed as part of the facility’s Stand-alone Solar for Productive Use programme in Nigeria.

The companies, it said in a statement, will now begin construction on their proposed solar projects, all of which are designed to connect businesses and services to a clean, affordable and reliable electricity source.

“With this programme in Nigeria, the Universal Energy Facility will demonstrate the enabling power that sustainable energy can have on local economic development and climate action,” said CEO and Special Representative of the UN Secretary-General for Sustainable Energy for All, Damilola Ogunbiyi.

Last year, the Nigerian government launched its Energy Transition Plan showing how the country will achieve universal energy access by 2030 and net-zero emissions by mid-century, as well as the finance required to meet these goals. The UEF is contributing to the plan’s finance targets for the power sector by providing grants that companies can leverage to attract additional finance for clean energy.

“The Universal Energy Facility will provide grant payments to enable solar companies to expand their operations to small and medium-sized enterprises across Nigeria, while crowding-in additional private capital,” said Vice President, Prof. Yemi Osinbajo SAN, during the launch. “Projects supported by the Universal Energy Facility will help grow businesses and create jobs, making them key contributors to our Energy Transition Plan.”

Minister of State for Power of the Federal Republic of Nigeria, dy Jedy Agba,said “This Universal Energy Facility programme is a practical demonstration of targeted investment in our power sector and in our overall objective to provide energy access to all Nigerians.”