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Nigeria: Proparco is making an equity investment in RENSOURCE HOLDINGS, its first project launched through the European Union’s ARE Scale-Up facility
Project
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Signature date
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Location
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Nigeria
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Financing tool
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Financing amount (Euro)
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2700000
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Financing details
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USD 3m Equity Investment
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Customer
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Rensource Holdings LLC
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Type of customer
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Company
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Project number
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PNG1070
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Environmental and social ranking
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B
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Climate co-benefits
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Project with climate co-benefits
This project is carried out with the support of the European Union.
The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union. This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco, with support from the European Union, has signed a USD 3m equity investment in RENSOURCE HOLDINGS, a major player in off-grid power generation solutions using renewable energies in Nigeria. This operation has been carried out under the European Union’s ARE Scale-Up (*African Renewable Energy Scale Up Guarantee facility) program to support private initiatives in this sector in Africa.
Client presentation
Developer, builder and operator of solar mini-grids for groups of companies (MSMEs)
Project description
Financing Rensource’s growth plan
Project impact
In terms of the climate, the project is fully in line with the 100% Paris Agreement mandate, with a reduction of 30k tons of CO2 a year as the expected impact on the climate compared to the initial solutions (diesel generators).