In a continental first, InfraCredit Nigeria is set to announce a credit guarantee for a local solar panel assembly plant in March 2026, marking a historic milestone for renewable energy manufacturing across Africa.
Ojuru Adeniji, Vice President of Origination and Structuring at InfraCredit, exclusively revealed to Energy Capital & Power that the deal will combine concessional capital from the Bank of Industry and represents the first credit guarantee for solar manufacturing infrastructure on the African continent. “Solar panel assembly is where we see a lot of potential and growth,” Adeniji said. “We will soon announce InfraCredit’s guarantee for a solar panel manufacturing plant, but we are still finalizing approvals and documentation.”
The announcement positions InfraCredit at the centre of Nigeria’s drive to localise solar production. The country imported approximately 1,721 MW of Chinese solar panels in the twelve months to June 2025, making it Africa’s second-largest importer after South Africa. Two assembly plants — Auxano and Blue Camel — are already operational, with two more under construction. Nigeria signed $435 million in renewable energy manufacturing agreements in October 2025 as part of its plan to develop 4 GW of domestic solar manufacturing capacity.
InfraCredit has built its reputation by channelling Nigerian pension fund capital into infrastructure, supported by a AAA domestic credit rating and backing from institutions including the Nigerian Sovereign Investment Authority, British International Investment (BII), KfW and the Africa Finance Corporation. No InfraCredit guarantee has ever been called. The institution’s model has already been replicated in Kenya, Pakistan and Cambodia, with the African Development Bank backing further continental expansion.
Source: energycapitalpower.com