Husk Power Systems, a leading provider of decentralized renewable energy solutions, has announced the acquisition of $20 million in debt financing from the European Investment Bank (EIB) to scale its operations in Nigeria.
In a statement by Husk’s Chief Marketing Officer, William Brent, the groundbreaking investment marks the largest-ever corporate debt financing for the community solar minigrid industry in Sub-Saharan Africa.
The financing from EIB will be instrumental in funding various initiatives aimed at expanding access to clean energy across Nigeria.
The initiatives include construction of community solar minigrids, installation of rooftop solar systems for commercial and industrial (C&I) customers, expansion of appliance sales to households and small businesses and scaling of value-added services such as agro-processing and e-mobility.
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