The Rural Electrification Agency (REA), is the Implementing Agency of the Federal Government of Nigeria, has agreed with Oando Clean Energy to build a 1.2 GW solar power plant in Nigeria. The project was funded by the World Bank and Japan International Cooperation Agency (JICA) with worth $950 million. It aimed to bring electricity to more than 17 million Nigerians. It included off-grid power plants, interconnected grids, and solar manufacturing facilities. REA planned a 1.2 GW solar panel assembly plant and another 1 GW plant with Infracorp and the Ministry of Finance Incorporated. Greenbox set up a lithium battery assembly plant in Lagos. To manage over $500 million in renewable assets, REA secured approval for a Renewable Asset Management Company. Oando Clean Energy also planned to launch a 600 MW production line next year and build Africa’s first solar modular assembly plant with a recycling facility for old panels.