Crossboundary Energy Access and ENGIE Energy Access have signed a $60 million agreement to finance the construction of a portfolio of mini-grids connecting 150,000 people to power in Nigeria.
ENGIE will provide long term operations and maintain services for the project and CBEA will provide the private transactions and invest it alongside the Performance Based Grant funded by the World Bank and administered by Rural Electrification Area and the Nigeria Electrification Project. She further noted that the improvements enable developers to build mini-grids and deliver electricity to more people at a faster pace.
He emphasised that the agreement will connect marginalised rural populations in Nigeria with clean and affordable technologies and facilitate more economic opportunities in these hard-to-serve areas.
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