Renewables: AFC and Microsoft seek guarantees for Nigeria’s $85m Konexa project

Renewables: AFC and Microsoft seek guarantees for Nigeria’s $85m Konexa project

The backers of the power supply project in northern Nigeria are hoping the World Bank will provide cover.

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            ▪ Renewables: AFC and Microsoft seek guarantees for Nigeria’s $85m Konexa project

▪ The backers of the power supply project in northern Nigeria are hoping the World Bank will provide cover.

https://www.africabusinessplus.com/en/810628/renewables-afc-and-microsoft-seek-guarantees-for-nigerias-85m-konexa-project/

The $85 million Konexa project, spread over two areas in the north of the country between Igabi Kaduna and Rigachikun, is making its promoters nervous again. After a franchise agreement was signed in March 2020 between the local Kaduna Electricity Distribution Company Plc (KEDCO) and the Jersey-registered Konexa, more than $85.5 million had to be secured amid uncertainty due to the pandemic. However, the management finally managed to attract big names such as the Climate Fund Managers (CFM), Africa Finance Corporation (AFC), Microsoft, and the Rockefeller Foundation.

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