United Capital Infrastructure Fund (UCIF) has signed a revolving local currency debt facility of around $3.2 million, with Husk in Nigeria. The financing has been structured to address a market gap in the deployment and expansion of solar minigrids in Nigeria. The revolving loan will run for 10 years, during which Husk intends to redeploy the capital twice.
The first phase of funding will be utilised to build its standalone minigrid pipeline in Nigeria. Furthermore, future allocations are planned for interconnected minigrids and commercial and industrial (C&I) solar projects. The debt facility is reportedly the first Naira-denominated debt instrument of its kind.
In May 2025, the International Finance Corporation (IFC), with support from the Government of Canada, announced a $5 million investment in Husk to expand solar hybrid minigrids in Northern Nigeria under the $200 million Distributed Access through Renewable Energy Scale-up (DARES) Platform. The financing will enable Husk to develop up to 108 minigrid sites and provide around 28,750 new electricity connections.
