REA Disburses N9bn for Mini-Grid Projects in Nigeria

The Rural Electrification Agency (REA) has disbursed N9 billion to support the deployment of mini-grid projects in Taraba, Kogi, and Kwara states, as part of its efforts to expand renewable energy access. According to a statement made available to correspondents, the agency announced a release of N7.95 billion to finance four mini-grid power projects across these three states.

Additionally, N1.056 billion was allocated for mini-grid deployment across three sites in Niger State. This allocation follows an earlier financial approval of N7.4 billion for Ventura Logistics Services and N3.2 billion for Zanoplu.

The REA explained that the funding is part of a performance-based grant framework stemming from a recent N100 billion memorandum of understanding with Lotu Bank. Abba Aliyu, the agency's Managing Director, emphasized that this disbursement is part of a consistent flow of capital into Nigeria's renewable energy sector, aimed at empowering local companies to deliver electricity solutions nationwide.

The agency also noted a recent disbursement of N3.2 billion to Zanoplu for deploying solar mini-grid projects in Bauchi State.