iSwiss Bank, a key European player in the securitization sector, has announced the funding of an ambitious project to build a massive solar park in southwestern Nigeria.

With a projected capacity of 570 megawatts (MW) and spanning 164 hectares, this facility is set to become one of the largest renewable energy projects not only in Nigeria but across West Africa.

Christopher Aleo, CEO of iSwiss Bank, expressed his excitement for the project, emphasizing its strategic importance for both Nigeria and the African continent. “Nigeria is one of the countries with the highest development potential in Africa. We are deeply honored to be present here and are preparing to collaborate with this enlightened government to develop banking infrastructure for West Africa.”

The total funding for this project will amount to €647 million, fully secured through a securitization process executed on the London Stock Exchange, involving institutional investors. A portion of the bonds will be directly underwritten by iSwiss Bank itself, demonstrating the group’s commitment to contributing to Nigeria’s economic and sustainable development.

In addition to energy production, iSwiss’s project also includes plans to develop new banking infrastructure to support local economic growth. “This is not just about producing energy, but about strengthening the financial and infrastructural capacities of the country,” added Aleo.

However, iSwiss Bank’s policy extends beyond Nigeria. The group has already initiated systemic collaborations with several African nations, aiming to export its securitization-based financing model to other countries in the continent. The objective is to reduce reliance on fossil fuels and accelerate the transition to renewable energy in Africa. Through these partnerships, iSwiss intends to support sustainable growth regionally by developing further solar energy projects in countries such as Kenya, Ivory Coast, and Rwanda.

The Nigerian government has welcomed the initiative, and negotiations for project approval are already underway. If approved, construction of the mega solar park could begin in the coming years, significantly impacting the region’s energy supply and reducing greenhouse gas emissions.