Universal Energy Facility provides grants to solar projects across Nigeria, helping SMEs while saving thousands of tons of carbon emissions per year
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Thursday, February 23, 2023
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LAGOS, Nigeria , Feb. 23, 2023 /PRNewswire/ -- The Universal Energy Facility (UEF) – a results-based financing facility managed by Sustainable Energy for All – has announced that it will provide grants to renewable energy companies who applied to have their projects financed as part of the facility's Stand-alone Solar for Productive Use programme in Nigeria.
Key Points:
- As stand-alone solar energy projects, they will alleviate the need for businesses and services to rely on expensive, polluting fossil fuel generators as their source of power.
- The UEF estimates that approximately 5,400 tons of CO2 equivalent per year will be saved once all of the proposed projects are implemented.
- "Projects supported by the Universal Energy Facility will help grow businesses and create jobs, making them key contributors to our Energy Transition Plan."
- "The Universal Energy Facility is proving the effectiveness of results-based finance to catalyse energy development at speed and scale."