In a landmark move, the World Bank has given the green light to the Nigeria Distributed Access through Renewable Energy Scale-up (DARES) project with a substantial International Development Association (IDA) credit of $750 million.
This initiative, set to leverage over $1 billion in private capital and additional funding from esteemed partners such as the Global Energy Alliance for People and Planet and Japan International Cooperation Agency, is poised to provide illumination to over 17.5 million Nigerians through innovative distributed renewable energy solutions.
In a country where over 85 million people lacked access to electricity as of 2021, the DARES project emerges as a beacon of hope, spearheading a transformative journey toward sustainable and widespread electrification.
The DARES programme will enable the Nigerian government to coordinate and finance off-grid electrification efforts, providing technical assistance to states for institutional capacity and policy frameworks for rooftop solar. Emphasizing gender and inclusion, the program builds on NEP’s actions to facilitate electricity access for female-headed households and women-led businesses.
World Bank Country Director for Nigeria, Shubham Chaudhuri, said the $750 million Nigeria DARES project is the largest-ever single distributed energy project globally, benefiting over 17.5 million unserved Nigerians and replacing over 280,000 polluting generator sets.
The Minister of Power, Adebayo Adelabu, expressed excitement about contributing to this revolutionary movement. “The DARES programme unlocks the full potential of the off-grid sector, propelling forward clean energy solutions and empowering unserved and underserved communities”.
The programme aligns with Nigeria’s efforts to close its electricity access gap and transition towards sustainable, efficient, and economically viable electricity supply, showcasing the impact of collaboration between the government, private sector, and development partners. The International Development Association’s (IDA) support underscores the commitment to uplifting the lives of the poorest communities.
