Darway Coast to benefit from N10 billion climate finance
Darway Coast, an enterprise specializing in renewable energy, will gain from a climate finance blending facility valued at N10 billion (£10 million). This was announced on Wednesday, November 9, 2022, by credit guarantor InfraCredit in an official statement released that day.
In a declaration, Darway Coast Nigeria Limited’s green debt issuance—the inaugural transaction under InfraCredit’s clean energy financing program—was noted for its credit enhancement due to a co-financing arrangement with the £10 million climate finance blending facility, financed by the UK Foreign, Commonwealth and Development Office (FCDO).
The financing will be utilized to establish six off-grid communities in the southern Nigerian states of Rivers and Abia with isolated solar mini-grids that have a cumulative ca...