A new renewable energy financing platform aimed at attracting large-scale private investment into Nigeria’s distributed power sector has been launched, with promoters targeting $188m to fund solar infrastructure projects across the country.
The Green Finance Investment Facility, led by Barton Heyman Limited in partnership with Rural Electrification Agency, UK PACT, First City Monument Bank (FCMB), and ARM Harith Infrastructure Investment Limited, is expected to finance 191 megawatts of distributed solar capacity for households, communities, and businesses nationwide.
According to a statement issued by the partners on Tuesday, the initiative will also support the Distributed Access through Renewable Energy Scale-Up programme, a Federal Government-backed project designed to expand electricity access through decentralised renewable energy systems.
The platform was officially launched on May 7, 2026, in Lagos, bringing together financial institutions, renewable energy developers, policymakers, and development finance stakeholders.
Speaking at the launch, the Managing Partner of Barton Heyman Limited, Olumide Lala, said the facility was created to unlock large-scale private investment in Nigeria’s renewable energy sector.
“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians. Nigeria’s distributed renewable energy sector can be financed through a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract capital at a national scale. This is our first step toward raising $40bn to finance 20 gigawatts of distributed renewable energy,” he said.
A Senior Partner at Barton Heyman, Anthony Feyitimi, said the initiative would strengthen economic productivity by improving access to reliable electricity.
“The Green Finance Investment Facility is not simply about clean energy. It is about what reliable, distributed power can unlock for Nigeria’s economy. Every megawatt we finance represents a business that can operate, a supply chain that can function, and a community that can compete,” he stated.
Feyitimi added that the blended finance platform combines sovereign pipelines, results-based funding, and commercial capital into a single, scalable structure.
“The GFIF Pilot is our first $188m step. The platform’s ambition is $40bn and 20 gigawatts. We are building it from Nigeria, for Nigeria,” he added.
The Managing Director of the Rural Electrification Agency, Abba Aliyu, noted that the initiative would help address financing challenges slowing renewable energy deployment in the country.
“The Green Finance Investment Facility can help tackle access to finance, one of the major barriers to renewable energy deployment. This launch reflects a strategic partnership aimed at ensuring communities without reliable electricity can gain access to power. We are proud of what this facility represents for Nigeria’s energy future,” he said.
Speaking on behalf of FCMB, Senior Vice President and Divisional Head of the Business Banking Group, George Ogbonnaya, said the bank had significantly expanded its renewable energy financing portfolio.
“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many operators driving growth in the sector. We have committed ₦100bn in debt financing for DARES. Currently, we are funding more than eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers,” he said.
Ogbonnaya added that the bank had financed more than 42 mini-grid projects and was supporting efforts to connect over two million households under Nigeria’s electrification programme.
Chief Investment Officer at ARM Harith Infrastructure Investment Limited, Derek Chime, called for deeper collaboration across the energy sector to attract more investment into renewable infrastructure.
Also speaking, Deputy Head of Mission at the British High Commission in Lagos, Simon Field, reaffirmed UK PACT’s commitment to supporting green finance and renewable energy expansion in Nigeria.
Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, Titilayo Oshodi, emphasised the importance of coordinated investment, innovation, and policy support in accelerating sustainable energy access.
Nigeria continues to face significant electricity access challenges, with millions of households and businesses lacking reliable power supply.
Stakeholders at the launch said initiatives such as the Green Finance Investment Facility would help mobilise long-term capital, reduce investment risks, and accelerate the deployment of clean energy infrastructure nationwide
Source: The Punch