By Abdullahi Lukman
The Rural Electrification Agency has disbursed nearly N9 billion to support mini-grid renewable energy projects across Nigeria, as part of ongoing efforts to expand electricity access.
In the latest funding round, N7.95 billion was allocated to Havenhill Synergy to finance equipment for four mini-grid projects in Taraba, Kwara, and Kogi states, while N1.056 billion was released to Faraday & Otstred Limited for deployments across three sites in Niger State.
The disbursements follow earlier allocations of N7.4 billion to Ventura Logistics Services and N3.2 billion to Zanoplus, reflecting a sustained funding drive in the sector.
The financing is backed by the Distributed Access through Renewable Energy Scale-up (DARES) programme under its Performance-Based Grant framework, supported by a N100 billion memorandum of understanding with Lotus Bank.
REA Managing Director Abba Aliyu said the consistent release of funds signals growing investor confidence and improved access to financing for developers.
He noted that the approach is accelerating project delivery, improving power access in underserved communities, and strengthening local participation in the renewable energy market.
He added that the agency remains focused on enabling Nigerian companies to drive the expansion of renewable energy infrastructure through sustained financial support and performance-driven initiatives.
