Abuja: A Renewable Energy Investor and Chief Executive Officer of Gigawatts Global, Yosef Abramowitz, has announced plans to provide up to $500 million in project financing for solar power plants across Nigerian universities. Abramowitz made this announcement during the 2026 NextGen Innovation Challenge National Showcase and the official launch of the Tinubu Light Initiative (TLI), organized by the National Board for Technology Incubation (NBTI).
According to News Agency of Nigeria, the initiative aims to improve electricity supply, support research, and extend power to surrounding rural communities. The funding is expected to cover up to 90 percent of the financing required for university-based solar projects, contingent on internationally bankable power purchase agreements and agreed project milestones.
“We’re honored to be able to present up to $500 million in project finance. That will represent 90 percent financing for solar power plants at universities, which will also anchor power supply to the rural communities surrounding them,” Abramowitz stated. He highlighted that many Nigerian universities currently rely on expensive diesel generation, limiting campuses to only a few hours of electricity each day.
The proposed solar facilities are expected to generate between 10 and 20 megawatts per location, surpassing the immediate electricity needs of the universities. Abramowitz noted that the surplus electricity would be supplied to nearby communities through prepaid metering systems, thereby aiding in rural electrification.
“We want to bring down your costs, increase the amount of energy, make it green and sustainable, and empower the communities around each of these universities,” he added. The initiative also aims to maximize local participation in the projects by sourcing equipment and maintenance services within Nigeria.
“We’re going to buy our panels in Nigeria. We’re going to buy our solar racking in Nigeria. We’re going to buy our cables in Nigeria. The idea is to keep as many of the jobs locally, both for operations and maintenance and for the hardware to be made in Nigeria,” Abramowitz explained. Local partners will be responsible for the operation and maintenance of the solar facilities, which is expected to improve long-term reliability and reduce costs compared to smaller standalone mini-grid projects.
Abramowitz concluded that reducing universities’ energy costs would enable institutions to redirect resources toward education, research, and innovation, while supporting cleaner and more sustainable power generation.