Arnergy Secures 18 Million To Accelerate Solar Energy Deployment Across Africa

Arnergy, a leading Nigerian provider of distributed renewable energy solutions, has announced the successful close of an 18 million funding round aimed at accelerating the deployment of its solar energy systems across Africa.

The funding round was led by All On, an off-grid energy impact investment company backed by Shell, with additional contributions from Bill Gates' Breakthrough Energy Ventures, ElectriFI Electrification Financing Initiative, and several new climate-focused investors.

Founded in 2013 by Femi Adeyemo and Kunle Odebunmi, Arnergy focuses on delivering reliable and affordable solar energy systems to businesses and households underserved by traditional power grids. Its solar-plus-storage solutions are specifically designed to provide consistent electricity in regions where frequent blackouts and unreliable energy access impede economic growth.

"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. "With these funds, we will expand our footprint, deploy more energy systems, and invest further in technology to enhance customer experience and system efficiency."

The company plans to utilize the fresh capital to grow its commercial and industrial C I client base, scale its residential offerings, and introduce new financial products to make solar adoption even more affordable for small businesses and communities.