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PROJECT CASE STUDY: / 04
Hotspot Network Limited
TelecomsOperational
22 States in Nigeria
CAPACITY INSTALLED
324kW
installed green capacity de-risked by first-loss co-financing.
EMISSIONS AVOIDED
8.34 Tonnes GHG/yr
tonnes of greenhouse gas emissions offset annually by the project.
JOB CREATION
720 Jobs
sustainable direct and indirect jobs facilitated in local communities.
CONNECTIONS POWERED
120 Sites
projected household and SME connections powered across Nigeria.
CAPITAL DEPLOYED
₦955 Million
mobilized from institutional investors and pension funds into the real economy.
Project description
Decarbonizing Digital Connectivity Networks Across 22 States
The project involves the construction, installation, and commissioning of 120 solar-powered mobile network base stations (sites) in 120 communities across 22 states in Nigeria. Micropolitan Mobile Connectivity Limited (Hotspot Network Limited's SPV) builds, owns, and operates these base stations in collaboration with Mobile Network Operators (MNOs) like MTN, replacing traditional fossil-fuel-powered infrastructure with climate-smart solar energy in off-grid rural communities.
Interactive Map
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Active Region
Selected / Hovered
SpecificationProject Metrics & Details
DEVELOPERHotspot Network Limited
STATES22 States in Nigeria
CAPACITY324kW
SECTORTelecoms
CLOSE YEARJun. 2023
PRIVATE CAPITAL₦955 Million
CONNECTIONS120 Sites
JOBS CREATED720 Jobs
GHG OFFSET8.34 Tonnes GHG/yr
Project ID / 04
Hotspot Network Limited
The challenge & problem
Rural telecommunication towers require continuous power, but grid absence forced network operators to run dirty diesel generators 24/7. This led to high maintenance costs, frequent network downtime, and heavy local carbon emissions.
The action plan & solution
Hotspot Network created a special purpose vehicle, Micropolitan Mobile Connectivity Limited, raising NGN 955 million in green-certified debt capital de-risked by CFBF. The proceeds funded the solarization of 120 rural base stations in collaboration with major mobile operators.
Developmental & environmental impact
Provides clean, solar-powered mobile network services across 120 remote communities. It guarantees 99.9% uptime, reduces diesel combustion, and supports 720 local maintenance jobs.
Financial Close2023
Private Capital Mobilised₦955 Million
Aligned SDG Goals
SDG 9
SDG 13
Financing structure
Blended finance mechanism & risk-mitigation architecture
De-risked Credit Enhancement
The project was financed through a blended finance structure co-financed by the UK-funded Climate Finance Blending Facility (CFBF), which provided subordinated first-loss capital to de-risk the project and reduce capital costs. This enabled Micropolitan Mobile Connectivity Limited to issue a ₦955 million, 7-year fixed-rate guaranteed senior green infrastructure bond (due 2030) credit-enhanced by a 'AAA'-rated guarantee from InfraCredit, successfully crowding in matching investments from 9 domestic institutional investors.
Financing key parameters
Instrument TypeInfrastructure Bond
Credit RatingAAA-Rated (Guaranteed)
Facility SupportCFBF (First-loss)
CurrencyLocal Currency (NGN)
Capital Deployed₦955 Million
Finance architecture
Illustrative transaction structure
Expected impact
A holistic approach to clean energy infrastructure & resilience
The project on completion is expected to enable between 9 and 16 million new mobile subscribers and 6 million new data users over 10 years, create up to 720 jobs, and avoid 8.34 tonnes of greenhouse gas (GHG) emissions annually, establishing a model to deploy up to 2,000 additional telecom sites.
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
Green Finance for Solar Powered Rural Telephony in Nigeria
Location22 States in Nigeria
Technical Overview
Hotspot Rural Telephony Mast Infrastructure
Location22 States in Nigeria
Visual portfolio
Shaping a more sustainable tomorrow
Technicians mounting photovoltaic frames onto mast enclosures.
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Explore alternate cases
Related project commitments
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
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
Developer pipeline
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