InfraCredit has provided credit enhancement for a local currency debt issuance by First Electric Power and Automation Services Limited, under a co-financing arrangement with the UK-backed Climate Finance Blending Facility (CFBF). The transaction marks the first mesh-grid clean energy infrastructure project financed through the facility and its sixth deal overall, highlighting growing momentum for blended finance in Nigeria’s distributed renewable energy space.
The funding will support the construction of 20 mesh-grid electricity networks across Gombe, Nasarawa, and Ondo states, delivering a combined capacity of 724.8 kWp. The project is expected to supply reliable power to over 5,100 households and small businesses, create more than 600 jobs, and cut carbon emissions by an estimated 762 tonnes annually by displacing diesel generation.
The deal builds on CFBF’s track record, which has already deployed about ₦12 billion across five earlier projects. Supported by FCDO, BII, NSIA, and InfraCredit guarantees, the structure is helping crowd in domestic institutional capital and scale climate-focused infrastructure investment in Nigeria.
