By Chinyere Joel-Nwokeoma
Havenhill Synergy Ltd. has raised N1.89 billion (.6m) for the construction of 22 mini-grids from Chapel Hill Denham Nigeria Infrastructure Debt Fund (NIDF) under the Nigeria Electrification Project.
The NIDF Chief Executive Officer, Anshul Rai, in a statement on Monday said that NIDF would provide Havenhill long-term financing of N1.89 billion (.6m) to part-finance the roll out of these mini-grids.
He said that the mini-grids would connect 70,000 people along with other establishments in the host communities to clean, reliable energy supply.
Rai said that the development was part of Havenhills strategic focus on energy access and clean energy for Nigerians.
He said it was quite fulfilling to note that NIDF was playing a significant role in improving energy access in Nigeria.
NIDF prides itself in being the leader in financing of clean energy and energy access projects in Nigeria and thus contribute to the achievement of UNs sustainable Development Goals.
In multiple projects such as Havenhill, our unit holders can see their capital in action and generating not only financial returns but also making a strong, positive impact on the daily lives of their fellow citizens, Rai said.
He said that financing of the project would be funded from the funds recently concluded Series-7 capital raise, which also involved the participation of African Development Bank.
With the support of AfDB, NIDF is also implementing a comprehensive Environmental