Echosys Invest announce the signing of a second loan in Nigeria

December 5, 2024

ECHOSYS INVEST is proud to announce the signing of a USD 15 million loan from AFRIGREEN DEBT IMPACT FUND to finance solar C&I projects by westa.solar, a subsidiary of Ignite Power.

AFRIGREEN is a leading investment fund managed by RGREEN INVEST and advised by ECHOSYS INVEST, focused on sustainable energy solutions and backed by prominent institutions including the European Investment Bank (EIB), the IFC – International Finance Corporation, BIO Belgian Investment Company for Developing Countries, FMO – Dutch entrepreneurial development bank, Proparco, Société Générale, and BNP Paribas.

“This is AFRIGREEN’s second transaction in Nigeria, and the first in local currency,” said Alexandre Gilles, Managing Director of ECHOSYS INVEST. “Our ability to offer Naira-denominated loans is key to unlocking the full potential of the renewable energy sector in the country. The IFC – International Finance Corporation played a crucial role in providing bespoke hedging instruments to mitigate currency risk.”

Press release

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Echosys Invest announce the signing of a second loan in Nigeria

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