iSwiss Bank Supports Nigeria’s Clean Energy Future with 647 Million Securitized Funding for Massive Solar Power Plant
London, United Kingdom, 20th Sep 2024 - iSwiss Bank, a leading European player in the securitization sector, is proud to announce its financing of an ambitious project to construct a large-scale solar park in southwestern Nigeria. With a projected capacity of 570 megawatts (MW) and covering an area of 164 hectares, this facility is set to become one of the largest renewable energy projects in both Nigeria and West Africa.
Christopher Aleo, CEO of iSwiss Bank, emphasized the strategic importance of the project for both Nigeria and the African continent. “Nigeria has immense development potential. We are honored to be part of this growth process and are prepared to collaborate with Nigeria to strengthen the region’s banking infrastructure,” Aleo stated.
The project’s total funding will reach €647 million, fully secured through a securitization process carried out on the London Stock Exchange. A portion of the bonds will be directly underwritten by iSwiss Bank, demonstrating the group's commitment to supporting Nigeria's economic and sustainable growth.
Beyond energy production, the iSwiss initiative also includes plans to develop new banking infrastructure to support local economic growth. Aleo added, “This is not just about generating energy but about enhancing the financial and infrastructural capacities of the country.”
iSwiss Bank’s strategy extends beyond Nigeria. The group has already initiated systemic partnerships with several African nations, aiming to replicate its securitization-based financing model throughout the continent. The objective is to reduce reliance on fossil fuels and accelerate the shift to renewable energy across Africa. With these collaborations, iSwiss is committed to promoting sustainable development regionally, with plans to develop additional solar projects in countries such as Kenya, Ivory Coast, and Rwanda.
Once approved, construction of the solar park could begin in the coming years, significantly improving the region’s energy supply and reducing greenhouse gas emissions.
iSwiss Bank continues to demonstrate how financial innovation can drive sustainable energy development, helping Africa to transition toward a greener future.
iSwiss Bank with representative office in London Uk is an innovative solution for the world wide transaction and one of the European new top player in the Securitisation Market .
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