ASIS Spotlights NSIA’s $300m Renewable Energy Fund to Expand Power Access
Deborah Ndinorouba The Africa Social Impact Summit (ASIS) has highlighted the $300 million Nigeria Distributed Renewable Energy (DRE) Fund as a major step towards addressing Nigeria’s electricity access gap, with
The Africa Social Impact Summit (ASIS) has emphasized the $300 million Nigeria Distributed Renewable Energy (DRE) Fund as a crucial step in tackling Nigeria's electricity access shortfall. This initiative, spearheaded by the Nigeria Sovereign Investment Authority (NSIA), Africa50, and Sustainable Energy for All (SEforALL), aims to channel investments into renewable energy solutions for communities and businesses that lack reliable power.
Launched at the inaugural ASIS Global Action Forum in New York, the forum brought together policymakers, investors, development institutions, and private-sector leaders to discuss strategies for mobilizing capital for Africa's development. The DRE Fund, co-managed by NSIA and Africa50 with guidance from SEforALL, is set to support the rollout of renewable energy projects like mini-grids and standalone solar systems across Nigeria.
Yusuf Umar, Managing Director and CEO of the Renewables Investment Platform for Limitless Energy (RIPLE), noted that effective financing structures are essential to deliver viable energy solutions to those most in need. Olapeju Ibekwe, CEO of Sterling One Foundation, underscored the significance of partnerships in transforming development dialogues into tangible actions that address community needs.
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