A new renewable energy financing platform targeting large-scale private investment in Nigeria’s distributed power sector has been launched, with promoters seeking to raise $188m to support solar infrastructure projects nationwide.
The Green Finance Investment Facility, led by Barton Heyman Limited in partnership with the Rural Electrification Agency, UK PACT, First City Monument Bank, and ARM Harith Infrastructure Investment Limited, aims to finance 191 megawatts of distributed solar capacity for households, communities, and businesses across the country.
The initiative, according to a statement from the partners on Tuesday, also supports the Distributed Access through Renewable Energy Scale-Up programme, a Federal Government-backed effort designed to expand electricity access through decentralised renewable energy systems.
Launched on May 7, 2026, in Lagos, the platform brought together financial institutions, renewable energy developers, policymakers, and development finance stakeholders.
Speaking at the launch, the Managing Partner of Barton Heyman Limited, Olumide Lala, said the facility was designed to attract large-scale private investment into Nigeria’s renewable energy sector.
“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians. Nigeria’s distributed renewable energy sector can be financed using a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level. This is our initial step to raise $40bn to finance 20 gigawatts of distributed renewable energy,” he said.
Senior Partner at Barton Heyman, Anthony Feyitimi, said the initiative was aimed at improving economic productivity through a reliable electricity supply.
“The Green Finance and Investment Facility is not simply about clean energy. It is about what reliable, distributed power makes possible for Nigeria’s economy. Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete,” he said.
He added, “We have structured a blended finance platform that brings together sovereign pipelines, results-based funding, and commercial capital into a single, replicable facility. The GFIF Pilot is our first $188 million step. The platform’s ambition is $40 billion and 20 gigawatts. We are building it from Nigeria, for Nigeria.”
The Managing Director of the Rural Electrification Agency, Abba Aliyu, said the initiative would help address financing constraints affecting renewable energy deployment in the country.
“The Green Finance Investment Facility can tackle access to finance, one of the main barriers to renewable energy deployment. Today’s launch is the outcome of a strategic partnership created to ensure communities lacking reliable power can access electricity. We are proud of what this facility signifies for Nigeria’s energy future,” he stated.
Speaking on behalf of FCMB, Senior Vice President and Divisional Head, Business Banking Group, George Ogbonnaya, said the bank had expanded its financing activities within the renewable energy sector.
“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector. We have committed ₦100bn in debt financing for DARES. Currently, we are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers,” he said.
Ogbonnaya added that the bank had financed more than 42 mini-grid projects and was supporting efforts to connect over two million households under Nigeria’s electrification drive.
Chief Investment Officer at ARM Harith Infrastructure Investment Limited, Derek Chime, called for stronger collaboration across the energy ecosystem to attract additional investment into renewable infrastructure.
Deputy Head of Mission at the British High Commission in Lagos, Simon Field, reaffirmed UK PACT’s support for green finance initiatives and renewable energy expansion in Nigeria.
Also speaking, the Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, Titilayo Oshodi, emphasised the need for coordinated investment, innovation, and policy support to accelerate sustainable energy access.
Nigeria continues to face major electricity access challenges, with millions of households and businesses lacking a reliable power supply.
Stakeholders at the launch said initiatives such as the Green Finance Investment Facility would help mobilise long-term capital, reduce investment risks, and accelerate the deployment of clean energy infrastructure across the country.
