Nigerian energy firm Arnergy has secured $18 million to expand its solar power systems across Africa. The company announced the funding on Tuesday.
The funding round was led by All On, a Shell-backed investment firm. Breakthrough Energy Ventures, ElectriFI, and other investors also joined in.
Arnergy was founded in 2013 by Femi Adeyemo and Kunle Odebunmi. It provides solar energy with storage to homes and businesses.
These systems are designed for areas with poor or unreliable electricity. They help people and companies stay productive during power cuts.
“This new investment is a strong vote of confidence in Arnergy’s mission to democratize energy access across Africa,” said Femi Adeyemo, CEO of Arnergy.
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The money will help Arnergy grow its commercial and residential services. It will also create financial products for small businesses.
Arnergy plans to reach more homes, schools, and companies with clean, reliable energy. The goal is to close Africa’s power gap.
More than 600 million people in Sub-Saharan Africa still lack electricity, according to the International Energy Agency.
Arnergy offers a decentralized solution that does not depend on national grids. This makes solar power faster and easier to deploy.
“Arnergy’s customer-first approach, technical expertise, and strong execution capabilities uniquely position them to lead Africa’s clean energy transition,” said Wiebe Boer, CEO of All On.
Global investment in clean energy is rising. Arnergy’s model shows promise for both growth and long-term impact in Africa.