Husk Power Plans 1GW Renewable Energy Rollout in Nigeria

Husk Power, co-founded and led by CEO Manoj Sinha, is targeting a rollout of 1 gigawatt (GW) of renewable energy in Nigeria. In an interview at the World Bank and International Monetary Fund Spring Meeting in Washington, D.C., Sinha emphasized the importance of affordable and reliable clean power for rural areas.

He noted that many people cannot afford current diesel prices, which can be up to 70% cheaper than electricity from mini-grids. Husk Power plans to electrify isolated villages through mini-grid solutions, which will not only provide power but also stimulate local economic activities, such as rice milling and cold storage.

Currently, 90 million Nigerians lack access to the national grid. The company aims to build mini-grids in areas like Nasarawa State and partner with local distribution companies to enhance power availability.

The World Bank has committed $750 million to support this initiative, which is part of a broader strategy to attract private investment and improve Nigeria's power sector over the next decade.