Market Study for Promoting Energy Efficiency and Renewable Energy Investments in Nigeria through Financial Institutions (Particularly Solar PV)

As part of the start-up activities of this program, IFC commissioned this study to assess the market conditions and demand of energy efficiency (EE) and small renewable energy (RE) financing in general and off-grid solar technology financing in particular, among Nigerian corporates and SMEs.

Services included:

  • Preparation of an overview market report on EE / small RE and solar PV market conditions in Nigeria.
  • Survey of corporates / SMEs to assess companies' EE practices and appetite for EE / small RE / solar PV investments, their interest in external financing, and any real or perceived risks from their perspectives.
  • Supply chain survey to assess the technical and financial capacities of the EE / RE / solar equipment (100 kW to 5 MW) supply chain participants in the country.
  • Interviews and consultations with local financial institutions to understand their perspective and position towards financing EE / RE / solar projects and Nigerian corporates and SMEs, and the local financing institutions' needs for support from international financing institutions.