PowerGen secures long-term project financing to deliver clean electricity to 55,000 people in rural Nigeria through innovative renewable energy systems.

Target Information

PowerGen is Africa's premier developer of distributed energy solutions, focusing on both on-grid and off-grid projects. The company has recently secured long-term project financing to electrify rural Nigeria, aiming to connect an estimated 55,000 individuals to reliable electricity. This initiative will rely on 28 distributed renewable energy systems, primarily solar PV and battery-powered mini-grids, and is bolstered by funding from a combination of public and private sources, including CrossBoundary Energy Access and various investment management firms.

Established in 2011 in Nairobi, Kenya, PowerGen has successfully installed over 3 MW of renewable energy projects across ten countries and currently serves more than 20,000 customers. With a mission to provide clean, dependable, and affordable electricity to ten million people by 2030, PowerGen continues to innovate and expand its operations.

Industry Overview in Nigeria

Nigeria, the largest economy in Africa, faces significant challenges related to energy access, particularly in rural areas where only 25% of the population has reliable electricity. This energy scarcity has led man