containerized BESS project financing options in Nigeria 2030

What is the global Bess capacity in ?

As per the International Energy Agency (IEA), global BESS capacity was 85 GW (approximately 190 GWh) at the end of and is expected to reach 400 GW (over 1,200 GWh) by to enable the seamless grid integration of renewable energy, with the net zero emissions scenario as a target.

Is blended financing a viable financial model for Bess projects?

As per McKinsey & Company, the market size of the BESS ecosystem is expected to reach $150 billion by . Thus, blended financing as a financial model should be considered, where public capital can be used as a first-loss capital for BESS projects. This offers private financers the comfort of providing capital at a competitive rate.

Where are the capital flows for Bess concentrated?

The IEA states that capital flows for BESS are concentrated in China and other developed countries due to the high cost of capital for clean energy projects in emerging economies.

Can a Bess project be issued as a green bond?

Independent BESS projects can be bundled together and issued as green bonds to potential large investors. A partial credit guarantee can be provided by public capital providers to improve the credit ratings of green bonds, which is necessary to attract these low-risk-seeking investors.

What are the challenges preventing the adoption of Bess?

There are several challenges hindering the adoption of BESS, and one of the key challenges is financial risks due to technology risks and the absence of a secured financial model. Technologies are still at an early stage, and performance record is limited.

Can a DFI underwrite a Bess debt?

DFIs can underwrite only the interest component of debts taken by BESS technology/project developers to ensure further optimisation and enable reasonable allocation of their scarce capital at the fastest possible pace.

Today, we are seeing non-recourse project finance for 600+ MW portfolios, mezzanine debt entering the capital stack, and public banks co-financing with private lenders. For developers, asset managers, and financiers alike, this is a call to sophisticate how BESS projects are packaged and financed.

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