Nigeria’s Power Crisis Fuels Solar Boom—and Arnergy is Cashing In
As Nigeria grapples with unreliable grid power and skyrocketing fuel prices (up nearly 500% since the removal of the fuel subsidy in 2023), solar energy adoption is soaring—and cleantech startup Arnergy is leading the charge.
Backed by Bill Gates’s Advanced Energy Ventures, Arnergy just closed an $18M Series B round to scale its solar solutions. Once marketed as a way to escape blackouts, solar is now being sold as a cost-saving solution—and the numbers prove it.
Its Z Lite lease-to-own model is gaining traction, offering Nigerians an affordable alternative to costly generators, with predictable payments over 5–10 years. Outright purchases now make up less of Arnergy’s revenue, showing that flexible financing is key to solar’s mass adoption.
CEO Femi Adeyemo says it best:
“Now we can clearly demonstrate to clients how much they save—whether they use the grid, gasoline, or diesel.”
Read Full Article here :- Bill Gates-Backed Arnergy Secures $18M to Expand Nigeria’s Solar Access
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