Nigeria Solar IPP Support Program (GCF-FP104)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
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.
Borrower
Africa Finance Corporation (AFC)
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Feb 7, 2019

Disclosed by Bank Jan 25, 2019


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Project Description

Facing serious electricity supply deficit over many years, the Federal Government of Nigeria (“FGN”) is actively seeking to improve conditions for private investment in the power and energy sector. Solar power is a critical component of the power policy of the FGN, which has reaffirmed its commitment to increasing renewable energy capacity as a part of Nigeria’s Vision 2020. Overall, the Vision 2020 programme presents an ambitious goal of achieving 35,000 MW by 2020, of which 10% (3,500 MW) is targeted to be provided from renewable energy.

Investment Description
  • Green Climate Fund (GCF)
Contact Information

3a Osborne Road, Ikoyi, Lagos State, Nigeria

Phone: +234 1 279 9600

Email: info@africafc.org

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND

The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.