Nigeria has signed a $200 million agreement with WeLight, a pan-African Distributed Renewable Energy company, to provide electricity to millions of people in rural areas.
The agreement will see the deployment of hundreds of renewable mini-grids across the country, supplying reliable power to remote communities and those on the outskirts of urban centres.
For Nigeria, Africa’s most populous nation, this deal marks a significant step towards increasing the share of renewable energy in its electricity mix from 22% to 50%. The country is actively pursuing private sector investments to drive its energy transition.
Backed by the World Bank and the African Development Bank, the project will establish and operate 400 mini-grids and 50 MetroGrids in rural areas. The installations are projected to provide electricity access to between 1.5 million and 2 million people, stimulating local economic growth and improving the quality of life in underserved regions.
WeLight, supported by major international partners including Axian Group, Sagemcom, and Norfund, signed the Memorandum of Understanding (MoU) with Nigeria’s Rural Electrification Agency (REA) on Monday. The REA is tasked with expanding electricity access to millions of Nigerians who remain without power.
“This MoU represents a major step towards delivering clean and reliable electricity to millions of Nigerians,” said Romain de Villeneuve, Chief Executive Officer of WeLight. “It also strengthens our ambition to become a truly pan-African company, committed to bridging the energy gap across the continent.”
The agreement is expected to accelerate Nigeria’s progress towards its renewable energy targets and enhance economic opportunities in rural areas.
