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//CEESOLAR
PROJECT CASE STUDY: / 02
CEESOLAR Energy Limited
Solar GridUnder Construction
Cross River State
CAPACITY INSTALLED
760KW
installed green capacity de-risked by first-loss co-financing.
EMISSIONS AVOIDED
737 Tonnes GHG/yr
tonnes of greenhouse gas emissions offset annually by the project.
JOB CREATION
561 Jobs
sustainable direct and indirect jobs facilitated in local communities.
CONNECTIONS POWERED
3,597 Connections
projected household and SME connections powered across Nigeria.
CAPITAL DEPLOYED
₦1.70 Billion
mobilized from institutional investors and pension funds into the real economy.
Project description
De-risking Cocoa Farming Value Chains in Cross River
The project will construct 760kWp total capacity of solar-hybrid mini-grid in four communities without grid access within Cross Rivers state, that will connect 3,597 households and small businesses. Construction is planned to commence in 2025 and commercial operations for 2026. CEESOLAR Energy Limited delivers decentralised clean energy across Nigeria, with 729.5kWp installed since 2017. Its mini-grids and stand-alone solar systems now serve over 695 connections in seven states and the Federal Capital Territory (FCT).
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SpecificationProject Metrics & Details
DEVELOPERCEESOLAR Energy Limited
STATESCross River State
CAPACITY760KW
SECTORSolar Grid
CLOSE YEARNov. 2025
PRIVATE CAPITAL₦1.70 Billion
CONNECTIONS3,597 Connections
JOBS CREATED561 Jobs
GHG OFFSET737 Tonnes GHG/yr
Project ID / 02
CEESOLAR Energy Limited
The challenge & problem
Rurally isolated farming communities in Cross River state had zero electricity connections. Small businesses suffered from irregular operations, and cocoa drying was dependent on firewood combustion, causing regional deforestation.
The action plan & solution
Blending First-Loss subordinated capital with local currency debt guarantees enabled CEESOLAR to access long-tenor financing. The funds are deployed to construct 760kWp solar-hybrid mini-grids in four rural farming communities.
Developmental & environmental impact
Provides clean energy access to 3,597 residential and retail connections, replaces wood-burning agricultural processing dryer systems, and creates 561 jobs.
Financial Close2025
Private Capital Mobilised₦1.70 Billion
Aligned SDG Goals
SDG 7
SDG 13
Financing structure
Blended finance mechanism & risk-mitigation architecture
De-risked Credit Enhancement
The project was financed through a blended instrument, with the UK funded Climate Finance Blending Facility enabling a 7-year fixed rate local currency debt financing for the project by investing in the subordinated debt tranche. The transaction was further supported by InfraCredit’s Construction Finance Warehouse Facility (CFWF) — a bridge financing instrument funded by the Nigeria Sovereign Investment Authority (NSIA) which enables developers to access short-term construction liquidity ahead of long-term refinancing through InfraCredit-guaranteed bonds.
Financing key parameters
Instrument TypeCo-financing / Bond
Credit RatingAAA-Rated (Guaranteed)
Facility SupportCFBF (First-loss)
CurrencyLocal Currency (NGN)
Capital Deployed₦1.70 Billion
Finance architecture
Illustrative transaction structure
Expected impact
A holistic approach to clean energy infrastructure & resilience
The project on completion will electrify up to 3,597 unserved households and small businesses, create up to 561 temporary and permanent jobs whilst enhancing access to renewable energy for productive uses, and avoid 737 tCO2e of GHG emissions. The 4 hybrid-solar mini-grids will have environmental benefits of climate change mitigation, energy savings and greenhouse gas reduction and simultaneously have a positive direct contribution to the United Nations Sustainable Development Goals (SDGs) 7, 8, 9, 11, 13 and 17 as identified in the Green Bond Framework.
01
Renewable Energy
SDG 7SDG 13SDG 9
Financing clean energy generation to power communities, foster innovation, and drive global climate action.
02
Energy Efficiency
SDG 7SDG 11SDG 13
Optimizing energy consumption in sustainable cities and industrial infrastructure to reduce carbon footprints.
03
Gender Equality & Jobs
SDG 5SDG 8
Empowering women in leadership and creating decent work opportunities across the clean energy value chain.
04
Partnership for Growth
SDG 17
Collaborating with global and local institutions to mobilize capital for sustainable, inclusive development.
Technical Assistance & Support
fsdafricaTechnical Assistance Partner
FSD Africa Support
Funded the upfront due diligence costs for the Project through its technical assistance facility for climate aligned infrastructure bonds established with InfraCredit.
Rating Agency
GCRRATINGS
An Affiliate
of Moody's
Investors Service
of Moody's
Investors Service
Green Verifier
Agusto&Co.
Research, Credit Ratings, Risk Management
Stakeholder testimonials & proof
Community voices & project progress
Project Showcase
CEESOLAR Off-Grid Energy Project
LocationCross River State
Visual portfolio
Shaping a more sustainable tomorrow
Solar array structures built adjacent to cocoa farming cooperatives.
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Explore alternate cases
Related project commitments
AKWA-IBOM & BENUE STATES•850kW
Challenge & Solution
Akwa-Ibom and Benue states are prime agricultural hubs, yet farmers suffered from high post-harvest losses (over 40%) due to a lack of power for cold preservation, milling, and value-addition processing.
Financial Close2024
Private Capital₦1.95 Billion
SDG 7
SDG 8
SDG 9
EDO & ONDO STATES•335kW
Challenge & Solution
Energy poverty in rural cocoa-farming communities with zero electricity access. Manual cocoa processing caused low productivity and post-harvest decay.
Financial Close2023
Private Capital₦755 Million
SDG 7
SDG 8
SDG 13
Developer pipeline
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