We are delighted to have acted as lead counsel to RGREEN INVEST and Echosys Invest, as Fund Manager and Fund Advisor to Afrigreen Debt Impact Fund, respectively, in connection with a USD 15 million senior secured facility provided to Westa Solar Assetco Nigeria Limited.
Funded by the European Investment Bank (EIB), IFC (World Bank Group), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), BIO, Proparco, Société Générale, and BNP Paribas, this financing by Afrigreen will support Westa Solar’s expansion, enabling businesses across Nigeria to access affordable and flexible solar energy solutions.
As Afrigreen’s second investment in Nigeria, this transaction underscores its commitment to scaling renewable energy infrastructure. It also sets a strong precedent for collaboration between financial institutions, investors, and developers to mitigate foreign currency risks and enhance the bankability of energy projects.
The funding will drive the development of solar Commercial & Industrial (C&I) projects, marking a key step in Nigeria’s transition toward sustainable energy solutions and aligning with the country’s broader goals of energy security and carbon reduction.
A huge congratulations to our team, led by Adeola Sunmola (Partner, Energy & Infrastructure, Banking & Finance), with invaluable contributions from Chisom Okolie, Godson Iwuozo, Opeyemi Adeshina, Toluwalope Adedokun, and Markanthony Ezeoha.
We are proud to have been part of this impactful transaction and look forward to supporting more projects that advance clean energy adoption on the African continent!
