Nigeria has entered into a significant agreement worth $200 million with WeLight, a pan-African Distributed Renewable Energy (DRE) company, to implement a network of renewable mini grids. This initiative is designed to deliver reliable electricity to millions of residents in rural communities and those living in the outskirts of urban centers. As Africa’s most populous nation, Nigeria is actively working to increase the share of renewable energy in its electricity mix from the current 22% to an ambitious target of 50%. This deal is viewed as a crucial step toward achieving that goal, while also attracting private investment to support the transition.
The project, which is supported by prominent financial institutions such as the World Bank and the African Development Bank, aims to develop and operate a total of 400 mini grids and 50 MetroGrids throughout Nigeria’s predominantly rural regions. This expansion of renewable energy infrastructure is expected to enhance electricity access for an estimated 1.5 to 2 million people, thereby stimulating local economies and improving the quality of life for many Nigerians.
WeLight, which has garnered backing from notable international entities including Axian Group, Sagemcom, and Norfund, formalized this partnership by signing a Memorandum of Understanding (MOU) with Nigeria’s Rural Electrification Agency (REA). The REA is a government agency dedicated to providing electricity solutions for the millions of Nigerians who currently lack access to reliable power.
Romain de Villeneuve, the Chief Executive Officer of WeLight, expressed optimism about the agreement, stating, “This MOU not only signifies a major advancement in our efforts to provide clean electricity to millions in Nigeria but also aligns with WeLight’s vision of becoming a truly pan-African company.” This collaboration marks a pivotal moment in Nigeria’s renewable energy journey, promising to transform the energy landscape and foster sustainable development across the nation.
