Olaniwun Ajayi LP (OALP) is pleased to have acted as counsel to Husk Power Energy Systems Nigeria Limited (Husk Power), the world’s largest private sector mini-grid operator, on its landmark ₦5 Billion (approx. US$3.2 Million) revolving credit facility provided by United Capital Infrastructure Fund (UCIF). This facility marks the largest Naira- denominated debt transaction to date in Nigeria’s solar mini-grid sector.
The 10-year revolving facility will support Husk Power in deploying and expanding its pipeline of solar mini-grids in Nigeria. This includes standalone sites, interconnected mini-grids (IMGs), and commercial and industrial (C&I) solar projects, accelerating access to clean, reliable, and affordable electricity for many communities nationwide.
This milestone transaction addresses one of the most critical barriers to scaling mini-grids in Nigeria — access to long-term local currency debt. By enabling Husk Power to redeploy capital at least twice over the tenor, the facility has the potential to mobilize up to ₦10 billion in financing, significantly advancing Nigeria’s transition to clean energy.
This follows our earlier support as counsel to Husk Power in connection with the $5million International Finance Corporation facility for the expansion of its Nigerian operations and development of over 100 mini-grids in Northern Nigeria.
At OALP, we are proud to have supported Husk Power on this groundbreaking transaction, which underscores our deep expertise in energy and infrastructure finance and reinforces our continued commitment to advising on innovative, market-defining transactions that foster sustainable development and energy access across Africa.