Mathew Amaechi
In a major boost to Nigeria’s renewable energy sector, Virtuitis Solaris, a leading energy firm, has signed a landmark agreement with the International Finance Corporation (IFC) to construct 500 solar mini-grids across the country.
The ambitious project, which is expected to be completed within the next three years, aims to provide clean and reliable electricity to up to 400,000 households in underserved communities. The initiative is part of the IFC’s broader effort to support distributed renewable energy companies in bridging Nigeria’s electricity access gap.
According to Chantelle Abdul, Group Managing Director of MOJEC Group and CEO of Virtuitis Solaris, the project will start with 100 grids in the first year, targeting 200,000 customers across 10 to 15 states in Nigeria. Abdul emphasized the company’s commitment to expanding energy access in off-grid areas and praised the IFC for its support.
The partnership is also aligned with the Nigerian government’s vision to enhance energy access, and the company is proud to be part of the transformative initiative. With this project, Virtuitis Solaris is positioning itself at the forefront of Nigeria’s renewable energy revolution, driving economic growth and social development through sustainable energy solutions.
The project is part of the World Bank-funded Nigeria Distributed Access through Renewable Energy Scale-Up Programme (Nigeria DARES), implemented by Nigeria’s Rural Electrification Agency. The IFC has committed $200 million to the project, while the First City Monument Bank has provided $100 million.
As Nigeria struggles to meet its electricity demands, with over 200 million people relying on just 4,500 megawatts of power, this project is a significant step towards leveraging renewables to provide power for underserved and unserved communities.