PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

600810

Primary Business Area

Financial Institutions Group

Disclosure Date

Apr 18, 2018

Country

Nigeria

Region

Africa

IFC Approval Date

May 30, 2017

Status

Completed

Estimated Total Budget

$3,422,840.00
(Project budget includes all project-funded activities)

Last Updated Date

May 4, 2024

Project Estimated Start Date

May 1, 2017

Project Estimated End Date

Dec 31, 2020

Project Description

This project will take a primary focus on solar technologies using DFID funding at the beginning. However, funding from Denmark and Hungary trust funds will allow the project to work on other areas of sustainable energy finance (e.g. energy efficiency interventions and/or green bonds) wherever relevant. The project plans to have four components as below: Component 1: Disseminate the results of the solar market study, support awareness raising activities with SMEs and Corporates in target segments, and conduct business development meetings with FIs. Component 2: Support market aggregation and pipeline development with vendors/ESCOs technology companies and project developers. Component 3- Launch a training program for local installers and develop certification schemes to improve installation quality of solar systems of smaller size. Component 4: Provide technical support to financial institutions (commercial banks, leasing companies, microfinance institutions, and also NBFIs) that are interested in developing a new business line of EE/RE finance with focus on solar PV financing for MSME and corporate segments.

Development Results

E&S Risks / Impacts and Mitigation