Transaction

Cascador's Catalytic Fund invests USD 357k in First Electric's operations in Nigeria

Announced

3 June 2026

Target

First Electric Power and Automation Services Limited

Value

$357,000

Asset class

Venture Capital

Type

Debt Financing

Instrument

Private Capital (Debt)

Lead investors

Cascador Entrepreneurial & Leadership Initiative Ltd/Gte

Investors

Cascador Entrepreneurial & Leadership Initiative Ltd/Gte

Sector

Energy and power / Solar Home Systems, Industrial Engineering Services

Markets

Nigeria

About the target

First Electric Power and Automation Services Limited is a Nigeria-based renewable energy company specializing in the design, development, and operation of distributed electricity infrastructure serving underserved communities and commercial customers across Sub-Saharan Africa. Incorporated in May 2019 and headquartered in Ajah, Lagos, First Electric provides affordable, technology-driven solar solutions across three core customer segments: households through pay-as-you-go solar kits; small and medium-sized enterprises through commercial solar systems; and communities through solar mesh-grids and microgrids paired with institutional partnerships. The company also operates standalone solar systems (SASS) and provides energy-as-a-service solutions integrated with digital energy management tools. As of June 2026, First Electric has delivered thousands of installations impacting over 2,000 households and businesses across Nigeria and is scaling mesh-grid infrastructure through partnerships with institutions like Okra Solar and financing support from InfraCredit and the Climate Finance Blending Facility, targeting reach of 100,000 people by 2027.