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PROJECT CASE STUDY: / 03
Prado Power Energy Limited
Agro-ProcessingUnder Construction
Akwa-Ibom & Benue States
CAPACITY INSTALLED
850kW
installed green capacity de-risked by first-loss co-financing.
EMISSIONS AVOIDED
893.5 Tonnes GHG/yr
tonnes of greenhouse gas emissions offset annually by the project.
JOB CREATION
740 Jobs
sustainable direct and indirect jobs facilitated in local communities.
CONNECTIONS POWERED
15,801 Connections
projected household and SME connections powered across Nigeria.
CAPITAL DEPLOYED
₦1.95 Billion
mobilized from institutional investors and pension funds into the real economy.
Project description
Securing Agricultural Value Chains & Reducing Post-Harvest Loss
Prado Power Energy Limited is constructing solar-hybrid mini-grids with a total capacity of 850kWp across four communities in Akwa Ibom and Benue States that currently lack grid access. The project aims to provide reliable electricity to unserved and underserved areas, with commercial operations expected to commence by 2025.
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SpecificationProject Metrics & Details
DEVELOPERPrado Power Energy Limited
STATESAkwa-Ibom & Benue States
CAPACITY850kW
SECTORAgro-Processing
CLOSE YEAROct. 2024
PRIVATE CAPITAL₦1.95 Billion
CONNECTIONS15,801 Connections
JOBS CREATED740 Jobs
GHG OFFSET893.5 Tonnes GHG/yr
Project ID / 03
Prado Power Energy Limited
The challenge & problem
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.
The action plan & solution
Credit-enhanced green financing supported Prado Power to install a total of 850kWp capacity of solar hybrid mini-grids, directly connected to agricultural cold hubs and agro-processing equipment.
Developmental & environmental impact
De-risks local food systems, extends fresh produce shelf-life, serves 15,801 connections (households and agro-processors), and cuts greenhouse gas emissions by 893 tonnes per year.
Financial Close2024
Private Capital Mobilised₦1.95 Billion
Aligned SDG Goals
SDG 7
SDG 8
SDG 9
Financing structure
Blended finance mechanism & risk-mitigation architecture
De-risked Credit Enhancement
The project utilized an innovative blended finance model and is recognized as the first certified blended local currency Green Infrastructure Forward Ijarah Lease Sukuk for a solar mini-grid project in Nigeria. Concessional first-loss capital was provided by the UK-funded Climate Finance Blending Facility (CFBF), supported by the Foreign, Commonwealth & Development Office (FCDO), which invested in the subordinated debt tranche. This de-risked the transaction and reduced capital costs, allowing InfraCredit to issue a 'AAA'-rated guaranteed senior green sukuk that successfully mobilized N1.95 billion in private capital from 12 domestic institutional investors. Additionally, upfront due diligence and green certification costs were funded by InfraCredit’s technical assistance facility.
Financing key parameters
Instrument TypeSukuk Lease Sukuk
Credit RatingAAA-Rated (Guaranteed)
Facility SupportCFBF (First-loss)
CurrencyLocal Currency (NGN)
Capital Deployed₦1.95 Billion
Finance architecture
Illustrative transaction structure
Expected impact
A holistic approach to clean energy infrastructure & resilience
The project on completion is expected to connect approximately 15,801 households, small businesses, and agro-processors to reliable power, create up to 740 direct and indirect jobs, and avoid approximately 893.53 tonnes of greenhouse gas (GHG) emissions per year, supporting UN Sustainable Development Goals (SDGs) 7, 8, 9, 11, 13, and 17.
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 Verification
Prado Power Solar Powered Rural Electrification Project
LocationAkwa-Ibom & Benue States
Community Impact
Prado Power Mini-Grid Impact Overview
LocationAkwa-Ibom & Benue States
Visual portfolio
Shaping a more sustainable tomorrow
Community sorting warehouse running on stable solar-powered circuits.
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CROSS RIVER STATE•760KW
Challenge & Solution
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.
Financial Close2025
Private Capital₦1.70 Billion
SDG 7
SDG 13
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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