$300 million for the places the grid doesn't reach: Nigeria's off-grid power fund is open for business

Nigeria's newest energy fund is aimed squarely at the map's blank spaces. The Nigeria Sovereign Investment Authority, Africa50 and Sustainable Energy for All have commercially launched a $300 million Distributed Renewable Energy Fund to finance mini-grids and standalone solar for communities and businesses that the national grid serves poorly or not at all. NSIA and Africa50 will manage the fund jointly, with SEforALL leading on energy access. 'Reliable energy can unlock opportunities for businesses, improve essential services and strengthen livelihoods,' said Sterling One Foundation's Olapeju Ibekwe at the launch spotlight in New York.

SDG 7 · Affordable and clean energy — Mechanism: funding & finance