InfraCredit, Nigeria’s AAA-rated infrastructure credit guarantee institution, has announced its credit enhancement for CEESOLAR Energy’s local currency debt under the Climate Finance Blending Facility (CFBF). This marks the fifth transaction under the UK-backed facility, which combines £10 million from the FCDO and US$10 million from BII, supported by a US$20 million counter-guarantee.
The financing will support four isolated solar hybrid mini-grids with a total capacity of 760 kWp across Cross River State, electrifying 3,600 homes and small businesses, creating 561 jobs, and cutting 737 tonnes of CO₂ annually.
Building on previous CFBF-supported projects totaling ₦9 billion, the initiative has already reached over 25,000 beneficiaries and developed 1.7 MW of off-grid capacity. InfraCredit CEO Chinua Azubike said the project exemplifies partnerships that unlock private investment for climate-resilient infrastructure, advancing Nigeria’s clean energy and net-zero transition.
