Multinational - Powergen Solar Mini-Grids Expansion

PowerGen (PG) is a leading private-sector decentralised solar energy developer and operator in SSA, with 7.1 MW of renewable energy (RE) installed(rural mini-grids, interconnected/urban grids, and commercial and industrial (C&I) projects) across 12 countries, and c. 31,500 mini-grid connections across four countries (Kenya, Sierra Leone and Nigeria) under management. This project focuses on raising equity and concessional capital to scale up the deployment of new energy connections, adding approximately 33 MW in new solar capacity and creating approximately 67,500 new connections, mainly in Nigeria and DRC. SEFA will provide an "equity-like" reimbursable grant (RG) of $10 million. The Bank will disburse the grant and monitor project performance.