By Oke Peter
Nigerian renewable energy solutions provider, Arnergy, has announced the successful close of an $18 million funding round
Nigerian renewable energy solutions provider, Arnergy, has announced the successful close of an $18 million funding round. This is aimed at accelerating the deployment of its solar energy systems across Africa.
The round was led by All On, an off-grid energy investment firm backed by Shell. Other participants included Breakthrough Energy Ventures, founded by Bill Gates, ElectriFI (Electrification Financing Initiative), and several new climate-focused investors.
Founded in 2013 by Femi Adeyemo and Kunle Odebunmi, Arnergy provides solar-plus-storage energy systems to homes and businesses that face unreliable grid access. The company targets regions where frequent power outages hinder productivity and quality of life, offering solar solutions that help bridge the energy gap.
“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 will use the funds to grow its commercial and industrial client base, scale its residential solar services, and roll out financial products aimed at making solar energy more accessible to small businesses and communities.
Africa’s energy access gap remains significant, with the International Energy Agency estimating that over 600 million people in Sub-Saharan Africa still lack electricity. Arnergy’s decentralized model is seen by investors as a scalable solution to this challenge.
“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.
The funding comes at a time when global investments in renewable energy continue to rise. Arnergy aims to expand its presence and deliver clean power to more schools, homes, and businesses across the continent.
