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ENGIE/Crossboundary’s $60m Mini-grid Finance Deal Wins Award

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ENGIE Energy Access Nigeria’s $60 million project finance agreement with CrossBoundary Energy Access (CBEA) has won the Transaction of the Year (Renewable

The deal is expected to build a portfolio of mini-grids connecting over 150,000 people to electricity in Nigeria.

In October, CrossBoundary Energy Access and ENGIE Energy Access Nigeria, signed the largest mini-grid project finance transaction in Africa to build a pipeline of mini-grids in Nigeria over the next four years. In a statement by ENGIE Energy Access Nigeria, over 150,000 people in communities that have never been connected to the national grid will now be supplied with electricity.

A former Nigeria’s minister of Power, Prof. Bart Nnaji, performed the formal presentation of the award to the company, which was received by Head of Mini-grids, ENGIE Energy Access Nigeria, Onyinye Anene-Nzelu. Commenting on the award, managing director, ENGIE Energy Access Nigeria, Bankole Cardoso said the award was significant because it acknowledged the efforts by the company to deploy innovative solutions to solve the problems of low access to electric power in unserved and underserved communities in Nigeria and Africa as a whole, especially in the off-grid communities.

 

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