Green Village Electricity - GVE
- Country
- Nigeria
- Technology
- Solar PV
- Business model
- Minigrid
EDFI ElectriFI contracted a USD 0.75 million senior debt to finance the construction and operations of rural mini-grids across Nigeria, and contributes to the finalisation of the first phase of the Green Village Electricity’s medium term expansion plan which consists in the development and operations of 17 mini-grid sites for a total of 800kWp and about 4 000 new electricity connections.
Contract Signature date: October 2019
Total ElectriFI Financing: USD 0.75 M (equivalent EUR 770 556)
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project:
Green Village Electricity (GVE) is a frontrunner and leading mini-grid developer in Nigeria. Founded in 2009, the company has gained extensive experience in deploying and developing renewable energy solutions for off-grid electrification in rural Nigeria. GVE’s business footprint covers the design, sales, installation and maintenance of renewable energy solutions for residential, commercial, industrial and rural off-grid or under-served communities through commercially sustainable business models in line with our clients’ needs. ElectriFI will support the completion of 17 projects benefiting communities who had either no access to electricity or access to costly and polluting gensets.
At a glance
- Number of beneficiaries
- 56 356
- Annual output (MWh/y)
- 1 170
- GHG avoidance (tCO2eq/y)
- 2 789
Impact
- Beneficiary
- Green Village Electricity
- Financing instrument
- Senior debt
- Amount
- USD 0.75m
- Country
- Nigeria
- Technology
- Solar PV
- Business model
- Minigrid
- Year
- 2019
- Facility
- ElectriFI global