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United Capital Infrastructure Fund (UCIF) is pleased to announce its latest investment in Nigeria’s renewable energy sector through a ₦5 billion Naira-denominated debt facility with Husk Power, the world’s largest private-sector mini-grid operator.
The revolving facility, unveiled on the sidelines of the Africa Climate Summit (ACS) in Addis Ababa, is the first local currency debt instrument of its kind for the solar mini-grid industry in Nigeria. It will support Husk Power in deploying and expanding its solar mini-grid pipeline in Nigeria, including standalone mini-grids, interconnected mini-grids (IMGs), and commercial & industrial solar projects.
By channelling long-term financing into clean energy projects, UCIF is directly addressing one of the most significant barriers to scale in the sector, which is access to affordable, local currency capital.
The Chief Investment Officer and Fund Manager of UCIF, Uchenna Mkparu, commented:
“We are excited to announce its maiden investment in the Renewable Energy Sector. This transaction underscores our commitment to advancing Nigeria’s renewable energy sector and expanding access to clean, reliable power. 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. It is our goal to replicate this novel facility structure to deliver up to 100MW of clean power by 2030.”
The revolving facility has a 10-year tenure, during which Husk will be able to redeploy the capital twice, multiplying its impact across multiple projects. Initial deployments will be used to build out Husk’s standalone mini-grid pipeline in Nigeria, with expansion plans to include interconnected mini-grids (IMGs) and commercial and industrial (C&I) solar projects.
The transaction reflects UCIF’s broader mandate to drive transformative infrastructure investments that deliver both financial returns and sustainable impact.