Nigeria opens a $300 million fund for distributed solar and mini-grids

Nigeria has commercially launched a $300 million Distributed Renewable Energy (DRE) Fund to finance mini-grids, solar home systems and other decentralised power for communities and businesses the national grid does not serve reliably. The Nigeria Sovereign Investment Authority (NSIA) and Africa50 are co-managing the vehicle, with Sustainable Energy for All (SEforALL) providing energy-access leadership and the World Bank as a founding partner. The partners announced the commercial launch on the sidelines of the United Nations General Assembly in New York on 21 September 2026. NSIA managing director Aminu Umar-Sadiq described the step as a signal that Nigeria’s distributed renewable market is “investable, credible and ready to operate at scale.” Africa50 group chief executive Alain Ebobissé said the partnership is meant to turn electricity need into investable opportunities and to offer a model that can be repeated elsewhere in Africa. The World Bank is contributing an initial $25 million through the International Development Association, about 8.3 percent of the $300 million target. The International Solar Alliance has described the vehicle as the first country-level demonstration l