Nigeria has launched a $300 million Distributed Renewable Energy Fund to accelerate investment in off-grid and distributed renewable energy projects and expand electricity access to underserved communities and businesses.
The fund, launched by the Nigeria Sovereign Investment Authority (NSIA) in partnership with Africa50 and Sustainable Energy for All (SEforALL), moves the initiative from the structuring phase into active capital deployment.
It will finance distributed renewable energy solutions aimed at addressing gaps in grid coverage, improving access to reliable electricity and supporting economic activity in underserved areas.
NSIA Managing Director and Chief Executive Officer Aminu Umar-Sadiq described the launch as a major development milestone, saying it signals to investors and development partners that Nigeria’s distributed renewable energy market is ready to operate at scale.
The initiative is aligned with Nigeria’s energy access priorities and the Mission 300 ambition of the World Bank Group and African Development Bank Group to expand electricity access across Africa.
Beyond Nigeria, the fund highlights the growing role of blended finance in mobilising private capital for renewable energy markets where commercial investment remains limited.
The partnership could also provide a model for scaling investment in distributed energy infrastructure across other African markets, particularly where grid expansion alone may not be sufficient to close electricity access gaps.