IFC, Canada Backs Husk’s Nigeria Minigrid Expansion

May 15, 2025

Key Figures & Findings: Key Figures & Findings: The International Finance Corporation (IFC), with support from the Government of Canada, has invested $5 million in Husk Power Energy Systems Nigeria Limited a clean energy company operating across Asia and Sub-Saharan Africa, to expand solar hybrid minigrids across Northern Nigeria. This marks the first deployment under the $200 million IFC Distributed Access through Renewable Energy Scale-up (DARES) Platform, complementing the World Bank’s $750 million Nigeria DARES Project implemented by the Rural Electrification Agency. Husk Power aims to use the funding to develop up to 108 new minigrid sites, offering decentralized renewable energy as a scalable alternative to diesel generation.

Statistics & Insights: With the estimated total project cost of  $25 millionHusk Power aims to deliver reliable solar energy to 115,000 people and small businesses across 108 underserved communities. The project targets a reduction in diesel reliance by at least 25% and a significant cut in CO₂ emissions.

Future Implications:  If fully realized, the initiative could strengthen Nigeria’s rural electrification efforts .It could also catalyze more blended finance projects across Sub-Saharan Africa.