Nigeria’s Watt Renewable Secures USD 15 M Debt Facility

The AFRIGREEN Debt Impact Fund (AFRIGREEN), an investment fund committed to sustainable energy solutions in Africa, has announced a USD 15 M debt facility agreement with Watt Renewable Corporation (WATT). The funding will support developing and operating hybrid solar power plants serving commercial and industrial clients in Nigeria, particularly within the telecommunications and financial services sectors.

AFRIGREEN is supported by prominent institutions, including the European Investment Bank (EIB), International Finance Corporation (IFC), BIO, FMO, Proparco, Société Générale, and BNP Paribas.

Founded in 2016, WATT Renewable Corporation provides hybrid solar solutions integrating solar power with traditional energy sources. These systems aim to significantly reduce clients’ diesel consumption and CO2 emissions, delivering both environmental and cost benefits. By adopting these solutions, businesses can achieve greater energy efficiency while contributing to sustainability goals.