WATCH THE VIDEO HERE Chapel Hill Denham has successfully concluded a $7.4 million (N10 billion) securitized financing deal for off-grid solar projects across Nigeria with d.light, a leading supplier of household products and affordable financing solutions for low-income families. This injection of funds, sourced from Chapel Hill Denham’s Nigeria Infrastructure Debt Fund, is earmarked for the expansion of d.light’s Pay-Go service. This initiative focuses on offering low-cost, solar-powered products designed specifically for low-income households, aiming to improve access to sustainable and affordable energy solutions. The financing agreement was structured and is backed by African Frontier Capital, which also plays a pivotal role as the master servicer and backup servicer in this financial arrangement, ensuring a robust framework for the transaction. The CEO of Chapel-Hill Denham said the deal marks a landmark in Nigeria’s sustainable infrastructure, pioneering local currency securitization for solar home systems. He noted that Chapel Hill Denham’s initiative is seen as catalysing innovation in the renewable energy sector, promoting sustainable development, and transforming Nigeria’s infrastructure towards a brighter future. Epileptic power conditions are not new to Nigerian households- the CEO of the NNPCL Mele Kyari noted recently that over 50% of Nigeria’s population do not have access to electricity. A report by the World Bank stated that around 85 million Nigerians lacked access to electricity as of 2021. This is despite the enormous clean energy potential in clean energy- solar and wind.
Chapel-Hill Denham closes $7.4 million securitised financing for off-grid solar projects in Nigeria
