Husk Power Systems Nigeria solar portfolio expansion

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The project comprises the development of a portfolio of solar mini-grids in around 150 rural or grid-distant areas across Nigeria. The sponsor is Husk Power Systems, USA. The company secured funding for the project with the debt financing of $20m from the European Investment Bank. Financial close took place on March 28th, 2024. The EIB financing forms a crucial component of a $100 million Series D funding round announced by Husk in October 2023. Thousands of homes in the remote communities will benefit from more reliable access to solar power and battery storage, compared to the more expensive option of diesel generators. https://huskpowersystems.com/husk-power-closes-20-million-in-financing-from-the-european-investment-bank-eib-to-scale-in-nigeria/ ; https://renewablesnow.com/news/husk-power-secures-usd-20m-in-eib-financing-for-minigrids-in-nigeria-853421/ https://huskpowersystems.com/husk-power-closes-20-million-in-financing-from-the-european-investment-bank-eib-to-scale-in-nigeria/ ; https://renewablesnow.com/news/husk-power-secures-usd-20m-in-eib-financing-for-minigrids-in-nigeria-853421/