Chapel Hill Denham successfully closes a $7.4 million securitized financing deal for off-grid solar projects in Nigeria with d.light, a top supplier of household products and affordable financing solutions for low-income families.
This injection of funds, sourced from Chapel Hill Denham’s Nigeria Infrastructure Debt Fund, is earmarked for the expansion of d.light’s Pay-Go service. This initiative focuses on offering low-cost, solar-powered products designed specifically for low-income households, aiming to improve access to sustainable and affordable energy solutions.
The financing agreement was structured and is backed by African Frontier Capital, which also plays a pivotal role as the master servicer and backup servicer in this financial arrangement, ensuring a robust framework for the transaction.
The CEO of Chapel-Hill Denham said the deal marks a landmark in Nigeria’s sustainable infrastructure, pioneering local currency securitization for solar home systems.
He emphasised that Chapel Hill Denham’s initiative catalyses innovation in the renewable energy sector, promotes sustainable development, and transforms Nigeria’s infrastructure towards a brighter future.
