United Capital Infrastructure Fund UCIF, the infrastructure arm of United Capital Plc, a pan-African financial services group led by Nigerian investment banker Peter Ashade, has signed a N5 billion 3.3 million revolving, local currency debt facility with Husk Power Systems.
The deal, announced at the Africa Climate Summit ACS2 in Addis Ababa, is the largest naira-denominated debt transaction in Africas community solar minigrid industry.
Unlike earlier financing arrangements in the sector, the Husk deal is structured as a revolving facility, allowing the company to draw down at least twice during the 10-year tenor. This gives Husk access to as much as N10 billion 6.6 million over the life of the agreement.