THUR JUNE 12 2025-theGBJournal| The Rural Electrification Agency (REA) and First City Monument Bank (FCMB) has finalized plans to launch a N100 billion facility for mini-grid developers under the Distributed Access through Renewable Energy Scale-Up (DARES) initiative.
The launch which will be Virtual, has been scheduled for Thursday, June 19, 2025.
This substantial investment is strategically designed to stimulate growth and accelerate private sector investment within Nigeria’s burgeoning mini-grid energy sector.
Both entities say the exclusive virtual event will mark a pivotal moment with the signing of the Collaboration Agreement between FCMB and REA, underscoring their joint commitment to advancing sustainable energy solutions.
Attendees will benefit from a comprehensive presentation detailing the facility’s structure, outlining precise access criteria, and elucidating the efficient disbursement processes.
A significant feature of the launch is the introduction of a “Deal Room”, an engagement platform.
This dedicated space will provide mini-grid developers with a unique opportunity to receive an overview on the project evaluations and gain invaluable insights into potential pathways toward financial close.
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