• UCIF sets up NGN5B facility for Husk Power solar expansion
• Funds target new minigrids, with broader clean energy goals
• Nigeria ramps up solar push amid 40% electricity access gap

The United Capital Infrastructure Fund (UCIF) announced on Tuesday, September 9, 2025, that it has established a 5 billion naira (about $3.3 million) revolving debt facility for Husk Power Systems, the world's largest private operator of solar minigrids.

The ten-year facility will allow Husk to deploy and redeploy capital to build new minigrids in Nigeria. The initial projects will be for standalone sites, with plans to expand into interconnected units and solar installations for the commercial and industrial sectors. UCIF aims to replicate this model to support the deployment of 100 MW of clean energy by 2030.

"By providing affordable, long-term local currency debt to a market leader like Husk, UCIF is creating impact by enabling scalable, sustainable energy access for households, SMEs, smallholder farmers, and underserved communities across Nigeria," said Uchenna Mkparu, an investment principal at UCIF.

According to the World Bank, about 40% of Nigeria's population lacked access to electricity in 2023, with the deficit most severe in rural areas. To address this issue, the government has placed solar minigrids at the core of its energy access strategy. UCIF's initiative comes as other players are also exploring local currency financing solutions.

On Monday, July 28, InfraCredit and the Africa Minigrid Developers Association (AMDA) announced a partnership to facilitate access to long-term domestic financing through the "Clean Energy Funding Programme." In May, All On, a company supported by Shell, injected 2 billion naira into Salpha Energy to boost its local assembly of solar kits, which have already been deployed to 2 million beneficiaries.

Abdoullah Diop