CBEA has committed $60 million to finance ENGIE's mini-grid projects in Nigeria, aiming to connect over 150,000 people to electricity.

Target Information

CrossBoundary Energy Access Nigeria (CBEA) has committed to investing $60 million in a portfolio of mini-grid projects led by ENGIE Energy Access. This partnership aims to provide electricity to over 150,000 individuals in Nigeria, a nation where more than 80 million people currently lack reliable access to electricity. ENGIE, a prominent provider of energy access solutions in Africa, is responsible for the operational management and maintenance of these mini-grids.

Industry Overview in Nigeria

Nigeria stands as the largest economy in Africa, yet it is also home to one of the world's most significant energy access challenges. Over 80 million Nigerians remain without electricity, highlighting a critical gap between economic potential and energy availability. This obstacle not only impedes daily life but also stifles economic growth and development across various sectors.

The mini-grid sector offers a viable solution to Nigeria's energy crisis. By leveraging renewable energy sources for decentralized power generation, mini-grids can effectively serve remote and unserved communi