Arnergy
- Country
- Nigeria
- Technology
- Solar PV
- Business model
- CPP
The ElectriFI country window for Nigeria contributed to Arnergy’s Series A round of USD 9 million together with Norfund and All On. Arnergy’s target in the next 3 years is to power 35 000 businesses across Nigeria.
Contract signature date: March 2019
Total ElectriFI financing: USD 3m (equiv EUR 2.67)
Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
About the project
ElectriFI committed USD 3 million to provide finance for expanding the customer bases and deploy up to 14 MW of photovoltaic solar panels and 35 MWh of storage over the next two years.
Arnergy is a leading provider of solar photovoltaic and storage solutions to SME’s in Nigeria. To date the company has installed more than 1.5 MW of photovoltaic solar modules to commercial Nigerian customers providing them with a clean, affordable and reliable source of electricity that will allow them to considerably reduce the recourse to expensive and polluting diesel generators. Arnergy sells its power and storage solution via three different contractual arrangements from cash sale to long term renting, therefore meeting the requirements of different types of customers.
At a glance
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- Number of beneficiaries
- 3 000
- Annual output (MWh/y)
- 13 500
- GHG avoidance (tCO2eq/y)
- 5 000
Impact
- Beneficiary
- Arnergy
- Financing instrument
- Equity
- Amount
- USD 3 million
- Country
- Nigeria
- Technology
- Solar PV
- Business model
- Captive Power Plant
- Year
- 2019
- Facility
- ElectriFI country window - NIGERIA