ETAFA
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ETAFA is an innovative financing initiative, which will enable the deployment of US$50M to support distributed renewable energy (DRE) projects in Nigeria. DRE is acknowledged to be the fastest and most cost-effective solution to accelerate clean electricity access to the African continent. While Nigeria is well positioned to reap the benefits of DRE, the lack of subordinated capital and local currency financing for developers is hampering the DRE sector’s growth. The inability to access long-dated local currency financing exposes DRE developers to losses due to currency mismatches between their revenues and borrowings. ETAFA will address these barriers and help unleash the full potential of DRE in the country.