Solar energy firm Arnergy obtains $18 million investment to speed up solar energy installation across Africa.
Arnergy Secures $18 Million to Expand Solar Energy Solutions Across Nigeria
Arnergy, a Nigerian provider of distributed renewable energy solutions, has successfully closed an $18 million funding round. This investment will enable the company to expand its operations and provide clean, reliable energy to more businesses, schools, and homes across the country.
The funding round was led by All On, an off-grid energy impact investment company backed by Shell, with contributions from Bill Gates' Breakthrough Energy Ventures, ElectriFI (Electrification Financing Initiative), and several new climate-focused investors. Wiebe Boer, CEO of All On, stated that Arnergy's customer-first approach, technical expertise, and strong execution capabilities make them uniquely positioned to lead Africa's clean energy transition.
With this new funding, Arnergy plans to deploy over 12,000 additional solar systems nationwide by 2029. The company's focus will be on key sectors such as healthcare, education, and small and medium enterprises (SMEs), with a strategic goal of improving energy access and reliability beyond just electricity supply.
Arnergy is reinforcing public-private partnerships through models like Power Purchase Agreements (PPAs) and Energy-as-a-Service (EaaS) to scale resilient and income-generating clean energy infrastructure. For example, it recently commissioned a 150 kVA solar system at Abia Specialist Hospital as part of a broader programme to install 500 kW of solar capacity across multiple healthcare facilities in Abia State, aligning with supportive government initiatives for rural and off-grid communities.
This growth follows Arnergy’s targeted approach of leveraging private investment to catalyse renewable energy adoption in Nigeria’s underserved sectors, complementing national electrification and climate goals.
The investment in Arnergy comes at a time when the global energy sector is undergoing rapid transformation, with record-breaking investments in renewable energy. The International Energy Agency reports that over 600 million people in Sub-Saharan Africa lack access to electricity, creating a significant market opportunity for decentralized solutions like Arnergy's.
Femi Adeyemo, CEO of Arnergy, stated that the new investment is a strong vote of confidence in their mission to democratize energy access across Africa. The funding round's investors view Arnergy's distributed model as a critical solution to sustainably address Africa's energy access challenges. Arnergy's solar-plus-storage solutions are designed to provide consistent electricity in regions with frequent blackouts and unreliable energy access.
In summary, Arnergy's expansion positions the company as a key player in Nigeria’s growing decentralized solar market amid the country’s broader renewable energy ambitions. The company aims to deploy over 12,000 solar systems nationwide by 2029, with a focus on key sectors such as healthcare, education, and SMEs. Arnergy is reinforcing public-private partnerships through models like PPAs and EaaS to scale resilient and income-generating clean energy infrastructure, and collaborating with government initiatives to electrify rural and off-grid areas.
- The investment in renewable energy company Arnergy, which focuses on distributed solutions, is a significant step towards providing clean, reliable energy to more businesses, schools, and homes across Nigeria.
- The funding round, led by All On and joined by other climate-focused investors like Bill Gates' Breakthrough Energy Ventures, ElectriFI, and several new investors, acknowledges Arnergy's customer-first approach, technical expertise, and strong execution capabilities.
- Arnergy plans to leverage this new funding to deploy over 12,000 additional solar systems nationwide by 2029, with a strategic goal of improving energy access and reliability in key sectors like healthcare, education, and small and medium enterprises (SMEs).
- Arnergy's growth aligns with global trends in the energy sector, as record-breaking investments in renewable energy are being made to address the energy needs of the over 600 million people in Sub-Saharan Africa who lack access to electricity.
- The expansion of Arnergy, which reinforces public-private partnerships through models like Power Purchase Agreements (PPAs) and Energy-as-a-Service (EaaS), represents a critical solution to sustainably address Africa's energy access challenges and contributes to the continent's broader renewable energy ambitions.
