Nigeria DRE Financing Hub
Financiers
DART - All On
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The Demand Aggregation for Renewable Technology (DART) Program combines demand pooling, aggregated purchasing and coordinated logistics for solar equipment, with access to affordable finance, to unlock efficiencies in the supply chain to accelerate the growth of the renewable energy sector in Nigeria.
Indicative terms
- Tenor: 24 months; 6-month moratorium on interest and principal repayment
- Currency: Available in US Dollars (USD or Naira (₦)
- Interest: Indicative rate of interest: 9% (USD); 13% (₦)
- Repayment: Quarterly payment of interest and principal (after moratorium period)
- Security: See full list on registration page
Energise Africa
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This facility offers flexible, impact-focused lending for qualified GMG developers and SHS distributors under the DARES programme. It enables experienced, mission-driven companies to secure the equipment or inventory needed to deliver stand-alone solar systems backed by executed agreements with the REA/World Bank. The financing is designed for established developers with a proven operational track record, sound financial management, and the capacity to deploy projects that expand clean energy access in emerging markets.
Indicative terms:
- Total facility: £500k-£3m
- Tranche-based credit facility with tranche sizes of £200k-£1m (no fixed schedule imposed, allowing developers to adapt to business needs).
- Tenor: 12-36 month tenor with flexibility for early repayment without penalties for construction finance
Odyssey Construction Credit for DARES
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Odyssey is offering construction credit for DARES participants, allowing you to access credit for equipment when you need it, with the ability to pay back in-line with your project delivery milestones and disbursements from REA. With a downpayment of 20-50%, access immediate credit for your project, and pay it back on a timeline that aligns with your payment milestones.
Indicative terms
Register below to learn more about extended payment terms on equipment purchase orders with Odyssey Construction Credit for DARES
Stanbic IBTC DARES Finance
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This financing scheme is aimed at providing funding to developers participating under the DARES (Distributed Access for Renewable Energy Scale-up) program under a lending model that is attractive and flexible. Developers can leverage this financing scheme to complete the equipment acquisition phase of their projects for the deployment of mini grids, stand-alone solar systems and productive use equipment backed by signed agreements with the REA/World Bank.
Indicative Terms
- Tenor: 12 months revolving facility limit; 6 months per tranche (this might extend subject to timeline of execution)
- Currency: Available in Naira (₦)
- Interest: Indicative rate of interest: MPR + 4% pa
- Repayment: Domiciled proceed of World Bank grant and monthly revenue from project financed Security: See full document list on registration page
Sterling Bank’s (RE) Renewable Energy Funding
This financing scheme is designed to support businesses and developers in scaling renewable energy projects across Nigeria. With flexible lending models and competitive terms, Sterling Bank enables the acquisition of essential equipment for mini-grids, solar home systems, and commercial & industrial renewable energy solutions. Businesses can leverage this financing to reduce energy costs, improve sustainability, and enhance operational efficiency.
Indicative Terms
- Tenor: Up to 4 years (maximum)
- Moratorium: Up to 12 months (based on project size & capacity)
- Equity contribution: Minimum of 20% of total project cost
- Repayment: Monthly or quarterly, tailored to cash flow
Ready to get started?
See what Odyssey can do for you.