Key points
- Gigawatts Global plans up to $500 million in financing for university solar projects.
- Solar plants will supply electricity to campuses and neighbouring rural communities.
- Initiative aims to cut energy costs, reduce diesel dependence and boost local manufacturing.
Main story
A Renewable Energy Investor and Chief Executive Officer of Gigawatts Global, Yosef Abramowitz, has announced plans to provide up to $500 million in project financing for solar power plants across Nigerian universities.
Abramowitz made the announcement in Abuja during the 2026 NextGen Innovation Challenge National Showcase and the official launch of the Tinubu Light Initiative (TLI), organised by the National Board for Technology Incubation (NBTI).
He said the initiative is designed to improve electricity supply in universities, support research activities and extend reliable power to surrounding rural communities.
According to him, the financing will cover up to 90 per cent of the cost of university-based solar projects, subject to internationally bankable power purchase agreements and the achievement of agreed project milestones.
Abramowitz said many Nigerian universities currently depend on costly diesel generators, leaving campuses with electricity for only a few hours daily.
He explained that each solar facility would generate between 10 and 20 megawatts of electricity, enough to meet campus demand while supplying excess power to nearby communities through prepaid metering systems.
He added that the company would prioritise local content by sourcing solar panels, mounting structures, cables and maintenance services within Nigeria to create jobs and strengthen the domestic renewable energy value chain.
Abramowitz also said local partners would operate and maintain the facilities to improve long-term reliability and reduce operating costs.
He noted that lowering universities’ energy bills would enable institutions to redirect more resources toward education, research and innovation.
The issues
Many Nigerian universities face unreliable electricity supply and high diesel costs, affecting teaching, research and digital learning. Large-scale solar projects are increasingly being explored as a sustainable alternative that can also improve electricity access for surrounding communities.
What’s being said
“We’re honoured to be able to present up to $500 million in project finance.”
“We want to bring down your costs, increase the amount of energy, make it green and sustainable, and empower the communities around each of these universities.”
“We’re going to buy our panels in Nigeria. We’re going to buy our solar racking in Nigeria. We’re going to buy our cables in Nigeria.”
What’s next
The projects will proceed once bankable power purchase agreements are secured and financing milestones are met, with implementation expected to involve local manufacturers, contractors and operations teams.
Bottom line
The proposed $500 million investment could significantly improve electricity supply in Nigerian universities while expanding clean energy access, supporting local manufacturing and benefiting surrounding communities.
