SCAF Funds Konexa Renewable Projects

Key Figures & Findings: Konexa, a renewable energy player in Nigeria, has secured early-stage development capital from the Seed Capital Assistance Facility (SCAF) to scale up clean power infrastructure. The funding supports a 50 MW solar PV plant and grid upgrades supplying Nigerian Breweries Plc facilities in Lagos and Enugu, along with expanding Konexa’s renewable trading platform. Co-funded with Climate Fund Managers (CFM) and Norfund, the investment mobilizes over $80 million for construction-stage projects, aiming to enhance energy reliability for commercial and industrial clients and contribute to Nigeria’s Vision.

Statistics & Insights: Konexa’s projects could prevent 30,000 tonnes of CO₂ emissions annually and generate 100 construction jobs and 35 permanent roles. The initiative highlights SCAF’s strategy of de-risking early-stage work to unlock private capital in emerging markets.

Future Implications: By 2026, Konexa’s new projects are expected to inject over 50 MW of renewable capacity into Nigeria’s grid, thereby improving power reliability for industrial clients and reducing grid pressure. If scaled successfully, this initiative may attract additional private sector investments to meet Nigeria’s Vision targets, with potential for broader regional influence.

Source: SCAF