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Bill Gates-backed Arnergy to expand solar access in Nigeria with $18M as demand surges
Demand for solar energy in Nigeria has soared, drawing investor interest in Arnergy, a cleantech startup with $18 million in fresh funding.
Adeyemo launched Arnergy in 2013 to provide solar systems to homes and businesses across sectors like hospitality, education, finance, agriculture, and healthcare. Now, it’s adopting a partnership-driven model with business clients and physical retail outlets outside Lagos to reach more customers in Nigeria’s power-starved market. The Lagos-based cleantech is in talks to raise additional local debt from banks and DFIs to support these projects including energy-as-a-service (EaaS) solutions for multinationals, says Adeyemo.
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