Virtuitis Solaris, a subsidiary of MOJEC International Holdings, a prominent player in the Nigerian energy sector, has reinforced its dedication to expanding energy access across Nigeria by announcing its ambitious plan to deploy 500 mini-grids within the next three years. This significant undertaking aims to electrify underserved communities and contribute to the nation’s sustainable development goals. The project will be rolled out in phases, starting with the construction of 100 mini-grids in the first year, with the ultimate goal of connecting at least 200,000 customers across 10 to 15 states. This initiative highlights the company’s commitment to bridging the electricity access gap in Nigeria and promoting the adoption of renewable energy solutions.
The announcement was made during the Mission 300 Africa Energy Summit held in Dar es Salaam, Tanzania, where Virtuitis Solaris signed a strategic partnership agreement with the International Finance Corporation (IFC). The IFC, a member of the World Bank Group, is renowned for its focus on promoting private sector development in emerging markets. This partnership aligns with the IFC’s broader strategy of supporting distributed renewable energy companies in their efforts to address Nigeria’s energy deficit and foster the transition to a cleaner and more sustainable power supply. The collaboration will leverage the IFC’s expertise in financing and project development, while Virtuitis Solaris contributes its technical capabilities and local market knowledge.
The partnership between Virtuitis Solaris and the IFC is a significant step towards achieving the goals of the Nigeria Distributed Access through Renewable Energy Scale-Up Programme (Nigeria DARES), a World Bank-funded initiative implemented by Nigeria’s Rural Electrification Agency (REA). Virtuitis Solaris is a participant in the Nigeria DARES program, and this new partnership will further bolster its efforts to expand access to clean and reliable electricity in rural communities. The company’s participation in Nigeria DARES and its collaboration with the IFC underscore its commitment to working with both the public and private sectors to address the complex challenges of energy access in Nigeria. The program’s ultimate goal is to provide electricity to up to 400,000 households in under-served communities.
Virtuitis Solaris’s commitment to rural electrification builds on previous agreements and initiatives. In October 2024, the company signed a Memorandum of Understanding with the Rural Electrification Agency, solidifying its role as one of 22 developers selected for the deployment of decentralized renewable energy projects across nine Nigerian states. This earlier commitment demonstrated the company’s proactive approach to bridging the energy gap and its recognition of the importance of distributed energy solutions in reaching remote and underserved areas. The selection by the REA underscored the company’s credibility and capacity to deliver impactful projects in the renewable energy sector.
The strategic partnership with the IFC provides critical bridge financing, enabling Virtuitis Solaris to accelerate the development of its mini-grid projects. This financial support will facilitate the capital expenditures necessary for infrastructure development and the establishment of operational capabilities at the proposed mini-grid sites. By providing access to capital, the IFC is empowering Virtuitis Solaris to scale up its operations, expand its reach, and make a more significant impact on communities lacking access to reliable electricity. The bridge financing is instrumental in overcoming financial hurdles and accelerating the deployment of these critical energy infrastructure projects.
The initiative aligns with the Nigerian government’s vision of enhanced energy access, contributing to both economic growth and social development. The Mission 300 agenda, championed by the Nigerian Minister of Finance, aims to connect 300 million Africans to electricity, a goal Virtuitis Solaris is actively supporting. By extending electricity access to underserved communities, the project will stimulate economic activities, create employment opportunities, and improve the quality of life for countless Nigerians. The provision of reliable energy is a fundamental catalyst for economic growth and social progress, and Virtuitis Solaris is playing a key role in driving this transformation.
