InfraCredit has announced the support of Prado Power Limited with Guaranteed Fixed-Rate Senior Green Infrastructure Forward Ijarah Lease Sukuk under a co-financing arrangement with the £10 million climate finance blending facility.
The scheme is funded by the United Kingdom Foreign, Commonwealth and Development Office (FCDO).
InfraCredit’s Clean Energy Funding Programme seeks to aggregate, de-risk and unlock domestic institutional investments to support eligible clean energy projects in Nigeria to contribute towards meeting the country’s universal electrification goal by 2030 and the SDG 7 target while putting the country on a path to achieve net-zero emissions by 2060.
The climate facility provided subordinated first-loss capital that helped de-risk and reduce the capital cost of the project by unlocking InfraCredit’s AAA-rated guaranteed fixed-rate senior green infrastructure forward Ijarah…
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