REA Begins N9bn Mini-Grid Projects Across Multiple Sites

The Rural Electrification Agency (REA) has stepped up funding support for renewable energy projects, disbursing fresh capital to developers to accelerate mini-grid deployment across multiple states.

AEP understands that a total of N7.95 billion was disbursed to Havenhill to finance critical equipment for four mini-grid power projects in this round. The projects will move from Taraba, Kwara, and Kogi States.

In a related development, the sum of N1.056 billion was released to Faraday & Otstred Limited for mini-grid deployments across three sites in Niger State.

These allocations come amidst REA’s recent announcements of N7.4 billion in financing for Ventura Logistics Services and N3.2 billion for Zanoplus.

Backed by the Distributed Access through Renewable Energy Scale-up (DARES) programme’s Performance-Based Grant (PBG) framework, this funding is a direct result of a recently signed N100 billion Memorandum of Understanding (MoU) with Lotus Bank.

Speaking on the development, Abba Aliyu, the managing director of REA, praised the constant capital injection into Nigeria’s renewable sector.

“What is particularly encouraging here is the consistency; this is not a one-off. It is a pattern of capital being deployed, projects moving forward, and confidence in the system continuing to grow.”

“For developers, this means access to the equipment and financing needed to deliver. For communities, it means faster timelines for reliable power. And for the market, it reinforces the point that local financing is stepping up in a significant way,” Aliyu said.

He added that the REA remains committed to empowering local companies to power Nigeria.

“This is exactly the kind of energy we hoped to unlock where Nigerian financial institutions take the lead in powering Nigeria’s renewable infrastructure, backed by strong, performance-based frameworks. We are building momentum, and it is beginning to show,” he added.