Our locations:

TEMPLARS has acted as legal counsel to the International Finance Corporation (“IFC”) in connection with its financing package to Husk Power Energy Systems Limited (a leading renewable energy developer globally), to scale up the deployment of solar hybrid mini grids in underserved communities in Northern Nigeria. The funding will support the design, construction, and commissioning of up to 108 mini-grid sites, which are expected to deliver clean, affordable electricity to approximately 115,000 individuals and businesses through around 28,750 new connections.

This project marks the first investment under the IFC’s Distributed Access through Renewable Energy Scale-up (DARES) Platform, a US$200 million debt facility launched in November 2024 to expand renewable energy access in underserved markets. The DARES Platform is a part of the IFC’s comprehensive, programmatic engagement in Nigeria’s power sector to help the Federal Government of Nigeria realize its Energy Transition Plan.

The Husk project cost is estimated at US$25 million. IFC’s financing includes a US$2.5 million loan from its own account and a US$2.5 million loan from the Canada-IFC Renewable Energy Program for Africa. The facility is structured as a senior revolving loan, enabling Husk to draw down and repay funds as needed throughout the project’s lifecycle.

The TEMPLARS team was led by Finance and Energy & Natural Resources Partner, Desmond Ogba, supported by Senior Associate, Ayodele Ashiata Kadiri, and Associates, Frances Ehigiamusor, Christiana Ufomba, Lawrence Ola-Adisa, Theophilus Eke and Joshua Chizoma.

Related posts

5 June 2025

TEMPLARS Advises TotalEnergies on its $510 Million Divestment of 12.5% Interest in OML 118 (Bonga Field)
TEMPLARS has advised TotalEnergies SE and its Nigerian subsidiary, TotalEnergies EP Nigeria Limited on the US$510 million divestment of its non-operated 12.5% interest in the OML118 Production Sharing Contract to Shell.

2 June 2025

TEMPLARS Advises on Nigeria’s First-Ever Flare Gas-Powered Digital Infrastructure Project
TEMPLARS has advised Dawcon Energy (an awardee of gas flare sites under the Nigerian Gas Flare Commercialization Programme), in partnership with Green Flare Holdings on the launch of Nigeria’s first-ever Flare Gas-powered Digital Infrastructure

21 May 2025

TEMPLARS Advises United Bank for Africa plc on Its N239 Billion Recapitalization
TEMPLARS has advised leading Nigerian-headquartered pan-African bank, United Bank for Africa plc (“UBA”) on its Rights Offering of 6.8 million ordinary shares of the bank to existing shareholders (the “Offering”).