WeLight Targets Nigeria’s Power Gap with $31m Solar Mini-grid Investment

Nigeria’s electricity access challenge has attracted fresh investment after solar mini-grid company WeLight secured $31 million to support its expansion into the country.

The company, described as Africa’s largest solar mini-grid operator, announced on Tuesday that the funding came after the International Finance Corporation (IFC) took a stake in the business alongside existing shareholders.

The move is expected to support efforts to provide electricity to communities that remain outside the national grid. Millions of Nigerians, especially those in rural areas, still live without access to power.

Solar mini-grids gain attention

WeLight said the new capital will help it expand operations, enter new locations and prepare for a larger phase of development.

The company was founded in 2018 by Axian Group, Sagemcom and Norfund. It develops and operates solar-powered mini-grids that supply electricity to homes, schools, health centres and small businesses in communities that are not connected to national electricity networks.

At present, WeLight operates nearly 190 mini-grids in Madagascar and Mali. The facilities serve more than 800,000 people.

Its planned entry into Nigeria reflects the increasing role of solar mini-grids in tackling electricity shortages in remote areas where extending the national grid may be difficult or costly.

Millions still lack electricity

Nigeria remains one of the countries with the largest number of people without electricity. Estimates show that about 90 million Nigerians do not have access to power.

Many households and businesses connected to the grid also face regular outages and unstable supply. National grid failures have continued to affect electricity delivery in several parts of the country.

The situation has pushed interest in alternative power solutions such as solar mini-grids. Energy experts believe such systems can provide quicker access to electricity for underserved communities.

Government reforms have also opened new opportunities in the sector. The Electricity Act signed into law in 2023 allows states to generate, transmit, distribute and regulate electricity within their territories.

International development programmes are also supporting efforts to improve access to electricity. One of them is Mission 300, a joint initiative of the World Bank and the African Development Bank that aims to connect 300 million Africans to electricity by 2030.

The latest investment in WeLight shows continued confidence in off-grid energy solutions as Nigeria seeks ways to reduce its electricity deficit and improve power access for millions of citizens.