Arnergy, a Nigerian-based leader in distributed renewable energy, has raised $18 million in fresh funding to ramp up solar energy deployments across Africa. The round was led by All On, an energy investment firm backed by Shell, alongside notable backers such as Breakthrough Energy Ventures (founded by Bill Gates), ElectriFI, and other climate-focused investors. This significant investment underscores growing confidence in Arnergy’s model and its role in Africa’s energy transformation.
Founded in 2013 by Femi Adeyemo and Kunle Odebunmi, Arnergy delivers reliable, solar-plus-storage systems tailored for businesses and homes in areas underserved by traditional power infrastructure. The company targets regions plagued by unreliable grid access and frequent blackouts, offering a lifeline to those affected by Africa’s persistent energy gaps. Their goal is to provide consistent, affordable electricity that drives economic development from the ground up.
With the new funding, Arnergy plans to expand its commercial and industrial client base, enhance residential offerings, and roll out financial products aimed at lowering the barriers to solar adoption. CEO Femi Adeyemo emphasized that the investment will also support improvements in customer experience and technology efficiency, reinforcing Arnergy’s commitment to innovation and service.
As the global energy landscape shifts toward renewables, Arnergy’s decentralized model is gaining traction as a scalable solution for Africa’s energy access issues. With more than 600 million people in Sub-Saharan Africa still lacking electricity, the need for clean, distributed systems is urgent. Arnergy’s strategic growth positions it as a key player in Africa’s clean energy transition, powering a more inclusive and climate-resilient future.
Source: Africacapital