Arnergy, a prominent Nigerian provider of distributed renewable energy solutions, has recently concluded an $18 million funding round to accelerate the deployment of its solar energy systems across Africa. The funding was led by All On, an off-grid energy impact investment company supported by Shell, with additional contributions from Bill Gates’ Breakthrough Energy Ventures, ElectriFI, and other climate-focused investors.
Since its establishment in 2013 by Femi Adeyemo and Kunle Odebunmi, Arnergy has been dedicated to offering reliable and affordable solar energy systems to businesses and households that lack access to traditional power grids. Their solar-plus-storage solutions are designed to provide consistent electricity in regions plagued by frequent blackouts and unreliable energy access, hindering economic growth.
CEO of Arnergy, Femi Adeyemo, expressed confidence in the company’s mission to democratize energy access across Africa with the new investment. The funds will be used to expand their reach, deploy more energy systems, and invest in technology to enhance customer experience and system efficiency. Arnergy plans to grow its commercial and industrial client base, scale residential offerings, and introduce new financial products to make solar adoption more affordable for small businesses and communities.
Investors recognize Arnergy’s distributed model as a crucial solution to address Africa’s energy access challenges sustainably. With over 600 million people in Sub-Saharan Africa still lacking access to electricity, decentralized solutions like Arnergy’s present a significant market opportunity.
All On CEO, Wiebe Boer, commended Arnergy’s customer-centric approach, technical expertise, and strong execution capabilities, positioning them as leaders in Africa’s clean energy transition. As the global energy sector undergoes rapid transformation with record investments in renewable energy, Arnergy’s model aligns with efforts to drive inclusive, climate-resilient growth in emerging markets.
With this latest funding round, Arnergy is poised to power more businesses, schools, and homes, paving the way for a more sustainable future in Africa. The company’s expansion comes at a crucial time, where renewable energy investments are on the rise, and the focus is on driving sustainable growth across emerging markets.
