The Nigeria Sovereign Investment Authority (NSIA), Africa50 and Sustainable Energy for All (SEforALL) have commercially launched the $300 million Nigeria Distributed Renewable Energy (DRE) Fund, creating a dedicated financing platform to expand renewable energy access across the country. The launch took place on the sidelines of the 81st United Nations General Assembly (UNGA 81) in New York and marks the transition of the fund from structuring to active capital deployment.

The fund is designed to support the expansion of distributed renewable energy solutions, including mini-grids and standalone solar systems, particularly in communities and businesses underserved by traditional electricity infrastructure. The initiative aligns with Nigeria’s energy access priorities and the broader Mission 300 goal of connecting 300 million people across Africa to electricity by 2030.

NSIA Managing Director and Chief Executive Officer, Aminu Umar-Sadiq, described the commercial launch as a major development for Nigeria’s renewable energy market, saying it signals to investors and development partners that the sector is ready for investment and operations at scale. Africa50 Group CEO Alain Ebobisse said the partnership combines NSIA’s local expertise, Africa50’s pan-African investment capabilities, SEforALL’s energy-access leadership and support from the World Bank to create an investment model that could be expanded across Africa.

The fund is co-managed by NSIA and Africa50, with the World Bank serving as a founding partner and providing an initial $25 million IDA contribution. World Bank Managing Director of Operations Anna Bjerde said reliable and affordable energy is important for job creation and economic transformation, while SEforALL CEO Damilola Ogunbiyi said the fund demonstrates how country-led action can translate the ambitions of Mission 300 into concrete investments and electricity connections.

The commercial launch positions the Nigeria DRE Fund as a potential model for mobilising private capital into distributed renewable energy projects beyond Nigeria. With a focus on combining public finance, private investment and development expertise, the initiative is expected to support the growth of clean-energy businesses while contributing to Nigeria’s efforts to improve electricity access and advance its energy transition.

source: The guardian