
InfraCredit
In January 2024, InfraCredit provided credit enhancement for ACOB Lighting's NGN 755 million (£10 million) 7-year Series 1 Fixed Rate Guaranteed Senior Green Infrastructure Bond. This financing, blended with a subordinated concessionary loan from the UK's FCDO, supports the construction and operation of isolated solar hybrid mini-grids in seven communities across Edo and Ondo States. The projects have a total solar PV capacity of 335 kW and will electrify up to 3,597 households and small businesses, create approximately 868 jobs, and reduce GHG emissions by 352 tonnes. This bond was recognized as the Best Social Bond in Africa at the EMEA Finance Achievement Awards for 2024.