Nigeria Solar Capital Partners Ltd/ Globeleq/ARM-Harith (MIGA-3574)

  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 1, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Nigeria Solar Capital Partners Mauritius Ltd
The holder of the loan, grant, or other investment.
  • Climate and Environment
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 61.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Feb 26, 2019

Disclosed by Bank Aug 2, 2017

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Project Description

This summary covers equity/shareholder loan investments by Nigeria Solar Capital Partners Mauritius Ltd, and potentially subordinated loan investment by CDC of United Kingdom, in the Nigeria Solar Capital Partners Ltd./Globeleq/ARM Harith power project in Nigeria. The investors have requested 15-year coverage against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract. CDC's application for MIGA coverage of their subordinated loan is still to be confirmed. MIGA guarantees would be up to US$61 million for this project including the CDC coverage (hence this document requests US$61 million); absent the CDC coverage, equity/shareholder loans by Nigeria Solar Capital Partners Mauritius Ltd would be for a lower amount of US$35 million.
The project consists in the construction of a 100 MW DC photovoltaic solar plant connecting to the national grid in 215 hectares of land in Bauchi state, northern Nigeria. It also includes the construction of 18 km evacuation line connecting the solar facility to the grid which will be owned and operated by the Transmission Company of Nigeria.

Investment Description

Contact Information


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