The ARM-Harris Infrastructure Fund will facilitate investments in Nigeria’s power sector following the launch of AD Power HoldCo to invest in equity financing of renewable energy.
The company focuses on off-grid and interconnected mini-grids and captive commercial projects less than 1 MW in size in Nigeria, and provides equity and quasi-equity products to companies with off-grid small and medium-sized renewable energy projects. I plan to invest. Grid projects, interconnected mini-grids, commercial and industrial projects.
The new platform will also mobilize affordable, long-term local currency debt financing through investable balance sheets and enable delivery of commercial debt and debt capital from domestic financial institutions.
The company disclosed in a release that ADP Platform has begun investing by allocating up to $7 million in two separate SPVs developed by two off-grid developers. Each SPV consists of multiple off-grid projects in Nigeria, creating a base investment for expanding projects by multiple developers and additional investments in his SPV.
The two companies currently receiving foundational investments from ADP are Energy Conversion Company Nigeria (ENERCON) in partnership with sponsor Nayo Tropical Technology and GVE in partnership with sponsor Green Village Electrical Projects Limited (GVE). AssetCo Nigeria Limited (GANL). ).
ARM-Harith’s role in this project includes building an integrated HoldCo investment structure and streamlining transaction processes aimed at addressing the challenges of small project size and fragmented investment space. This includes reducing overall transactions by providing
It costs money.
In a release, the company said it will take advantage of a positive regulatory environment to invest in distributed energy projects for local communities, enhancing access to and supply of electricity.
We also integrate best practices and technology systems to rapidly scale distributed energy solutions.
Tariye Gbadegesin, Chief Executive Officer of ARM-Harith Infrastructure Investments Ltd, said the investment is in line with ARM-Harith’s mission to invest in sustainable infrastructure projects that support Nigeria’s economic growth and development. He said that.
Source: guardian.ng