• Africa will require about $46 billion by 2030 to deploy mini-grids under the Mission 300 initiative led by the World Bank and the African Development Bank.
• The financing mix will include $28 billion in debt, $14 billion in equity, and $4.6 billion in grants and public support, according to Bloomberg-cited estimates.
• Mission 300 aims to provide electricity access to 300 million people, with half supplied by decentralized renewable systems.

Africa will need about $46 billion by 2030 to enable mini-grids to play a central role in the Mission 300 initiative led jointly by the World Bank and the African Development Bank. Bloomberg reported the estimate on January 26, citing several industry players, including Husk Power Systems.

Launched officially in January 2025 during the Africa Energy Summit in Dar es Salaam, Mission 300 aims to extend electricity access to 300 million Africans by 2030, with a strong focus on rural and underserved areas. The program expects decentralized renewable energy systems, including mini-grids and standalone solar, to deliver half of new connections, while national grid extensions will supply the remainder.

According to figures cited by Bloomberg, the required funding will include $28 billion in debt financing, $14 billion in equity investment, and $4.6 billion in grants and public subsidies. Despite its scale, the total remains significantly below earlier estimates. In 2023, the World Bank estimated that Africa would need $91 billion to provide electricity access to 380 million people by deploying 160,000 mini-grids by 2030.

Waiting for full financial mobilization

Private-sector players have accelerated expansion plans across Africa, encouraged by improving regulatory frameworks. Husk Power announced in November 2025 that it plans to raise $150 million in equity and $250 million in debt by June 2026. The company framed the fundraising as part of a strategy to expand its African footprint and multiply global revenue by 2030.

Husk Power plans to enter Madagascar and the Democratic Republic of Congo, where it secured market entry through a $500,000 grant from U.S. non-profit Acumen. The company plans to deploy hybrid systems combining solar panels, battery storage, and diesel backup generators, which it has already rolled out in Nigeria to serve off-grid communities.

In Nigeria, Husk Power secured a 5-billion-naira ($3.5 million) revolving debt facility in September 2025 from United Capital Infrastructure Fund. The ten-year structure will allow repeated capital deployment to finance new mini-grid construction. Earlier, in May, Husk Power Energy Systems Nigeria Ltd obtained $5 million in financing from the International Finance Corporation, with backing from the Canadian government. The funding aimed to deliver clean and reliable electricity to about 115,000 people and businesses through 28,750 new connections.

Company data shows that Husk Power supplied electricity in 2024 to 1.5 million people and more than 30,000 small businesses across sub-Saharan Africa and South Asia.

This article was initially published in French by Espoir Olodo

Adapted in English by Ange J.A de BERRY QUENUM