The Green Guarantee Company (GGC) has completed its first two climate finance transactions, helping to mobilize USD 70 million for sustainable energy projects across Africa. The announcement was made on June 23, 2026, in London. These transactions are expected to support clean energy development and improve electricity access while attracting more private investment into renewable energy projects. The initiatives also contribute to Mission 300, a joint programme led by the World Bank Group and the African Development Bank to expand energy access across Africa.
The first transaction is a USD 20 million framework guarantee provided to Bank of Africa UK. The guarantee will support the development of mini-grid projects in Nigeria under the DARES programme. This programme is a major partnership between the Nigerian Government and the World Bank Group and is managed by the Rural Electrification Agency of Nigeria. ImpactA Global is participating in the project as a co-lender alongside the guaranteed facility.
The mini-grid programme is expected to provide new or improved electricity access to around 340,000 people living in underserved areas. It will also add approximately 13 MW of renewable energy capacity. In addition to expanding electricity access, the project is expected to reduce greenhouse gas emissions by avoiding around 250,000 tonnes of carbon dioxide equivalent every year. The initiative is designed to support local developers and strengthen renewable energy infrastructure in rural communities.
The second transaction involves a USD 50 million guarantee for a green bond listed on the International Securities Market of the London Stock Exchange. The bond was arranged by Standard Chartered and attracted investments from institutional investors in the United Kingdom and the United States, including Legal & General, Calvert Impact Capital, and Ceniarth.
The money raised through the green bond will be used to finance a special purpose vehicle that will provide loans to securitization vehicles established by African Frontier Capital (AFC). These financing platforms are backed by receivables from distributed solar energy assets across Sub-Saharan Africa. The initial funding will support d.light’s existing pay-as-you-go solar business, which provides affordable clean energy solutions to households and businesses. The project is expected to expand clean energy access to nearly 4.3 million people across the region. It also demonstrates a new approach to recycling development finance capital, making it easier to attract private investment into future renewable energy projects.
Senior representatives from the participating organizations welcomed the successful completion of the transactions. Lasitha Perera, Chief Executive Officer of the Development Guarantee Group, which manages GGC, said the first deals create a strong foundation for larger climate finance investments in the future. Christopher Marks, Chairman of the GGC Board, said the company has already developed a strong pipeline of projects to continue supporting affordable long-term financing.
Officials from Standard Chartered, African Frontier Capital, and Bank of Africa UK also highlighted the importance of combining financial guarantees with capital market expertise to connect international investors with renewable energy opportunities in Africa. Backed by major shareholders, including the Green Climate Fund, KfW, the UK’s MOBILIST programme, Norfund, and the Nigerian Sovereign Investment Authority, GGC aims to unlock greater private investment and accelerate the continent’s clean energy transition.
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