Yemisi Izuora
Nigeria is expanding its renewable energy sector with new partners closing seeming funding gaps.
Currently the United Capital Plc, in partnership with National Offshore-Grid Market Acceleration Program(NOGMAP) and SNV Netherlands Development Organisation, has convened a strategic investment dialogue to accelerate financing for Nigeria’s renewable energy sector through the Renewable Energy Blended Finance Facility (REBF).
The high-level meeting brought together investors, development finance institutions, and industry stakeholders to address infrastructure and financing gaps limiting the growth of off-grid energy solutions across the country.
Dr Gbadebo Adenrele, Managing Director of Investment Banking at United Capital, said the REBF facility will improve access to finance for small and medium-sized enterprises and smallholder farmers. The initiative will deploy instruments such as term loans and working capital to support energy access projects.
He explained that the facility will attract private sector investment into underserved segments of the energy market through catalytic capital structures. According to him, aligning funding with national energy ambitions is critical to achieving a successful energy transition.
Furthermore, the REBF will channel capital through direct lending and on-lending models. It will target renewable energy developers, mini-grid operators, and businesses across sectors such as agriculture, cold storage, solar refrigeration, and light manufacturing.
Uchenna Mkparu, Infrastructure Fund Manager at United Capital, emphasised that innovative financing models are essential to closing Nigeria’s energy access gap.
He noted that the collaboration creates a platform to mobilise capital and support enterprise growth across the renewable energy value chain.
Participants also highlighted the importance of ecosystem collaboration. They identified the Nigeria Solar Marketplace as a key tool for connecting stakeholders with investment opportunities, market intelligence, and business support services.