To Accelerate Solar Energy Deployment Across Africa Arnergy Secures $18 Million

Posted on : Wednesday , 30th April 2025

An $18 million funding round has been successfully closed by Arnergy, a prominent distributed renewable energy solutions provider in Nigeria, with the goal of expediting the rollout of its solar energy systems throughout Africa.  

Bill Gates’ Innovative Energy Projects, ElectriFI (Electrification Financing Initiative), and a number of new climate-focused investors contributed to the capital round, which was led by All On, an off-grid energy impact investing firm supported by Shell....

Arnergy was established in 2013 by Femi Adeyemo and Kunle Odebunmi with the goal of providing reliable and reasonably priced solar energy systems to homes and businesses that are unserved by conventional power lines. In areas where frequent blackouts and unstable energy access restrict economic progress, its solar-plus-storage solutions are specifically made to deliver reliable electricity.

Femi Adeyemo, CEO of Arnergy, stated, "This new investment is a strong vote of confidence in Arnergy's mission to democratise energy access across Africa. To improve customer experience and system efficiency, we will use these funds to increase our footprint, install additional energy systems, and make additional technological investments."

With the new funding, the company intends to expand its commercial and industrial (C&I) clientele, expand its residential portfolio, and launch new financial products to further lower the cost of solar adoption for communities and small enterprises.

In order to address Africa's energy access issues in a sustainable manner, investors see Arnergy's distributed strategy as essential. The International Energy Agency estimates that over 600 million people in Sub-Saharan Africa do not currently have access to electricity, underscoring the enormous market for decentralised solutions.

According to All On CEO Wiebe Boer, "Arnergy is uniquely positioned to lead Africa's clean energy transition due to their customer-first approach, technical expertise, and strong execution capabilities."

The company's growth coincides with the fast restructuring of the global energy sector and record-high investments in renewable energy. The strategy used by Arnergy is in line with larger initiatives to promote equitable, climate-resilient growth in emerging markets.

Arnergy is in a strong position to power thousands more homes, companies, and schools with this most recent round of funding, paving the path for Africa to have a more sustainable future.