Prado Power Secures Debt To Build 5 Solar Mini-Grids In Nigeria

Prado Power, a Nigerian renewable energy company founded in 2021 by Washima Mede, has secured an undisclosed senior debt facility from REPP 2, managed by Camco, to build and operate five solar mini-grids with battery storage in Benue and Nasarawa states.

The projects will combine 1.84MWp of solar PV with 5.2MWh of battery capacity and are expected to provide electricity to more than 12,000 households and MSMEs, many receiving first-time electricity access. The mini-grids are also expected to displace diesel generation and avoid more than 1,100 tonnes of CO2 emissions annually.

Prado Power is also piloting a productive-use model with Farm Warehouse in Benue, combining mini-grid electricity with agricultural equipment, services, microcredit and insurance. The projects are additionally supported by the World Bank’s DARES programme.