TEMPLARS has advised Camco REPP 2 Holdings One SCSP (Camco) on the provision of a senior debt facility to Prado Power Group to finance the construction and operation of a portfolio of solar mini-grids with battery storage in Nigeria.
Located across North-Central Nigeria, the projects are supported by the World Bank Group’s Distributed Access through Renewable Energy Scale-up (DARES) performance-based subsidy programme and facilitated by the Rural Electrification Agency of Nigeria (REA).
The financing forms part of a broader effort to expand access to reliable and sustainable electricity through distributed renewable energy, while integrating productive-use applications to support economic activity in underserved communities. The transaction also underscores the growing role of innovative climate finance in mobilising private capital for decentralised renewable energy infrastructure in Nigeria.
The TEMPLARS team was led by Partner, Desmond Ogba, with support from Senior Associate, Ayodele Ashiata Kadiri, and Associates, Joshua Olorunmaiye, Uboho Inyang and Jewel Egelege.