Arnergy, a Nigerian cleantech company, has secured $18 million in Series B funding to scale its solar energy solutions across the country.
The round was led by CardinalStone Capital Advisers and included investors like Breakthrough Energy Ventures, British International Investment, Norfund, EDFI MC, and All On.
Founded in 2013, Arnergy has deployed over 1,800 systems across 35 states, delivering 9MWp of solar and 23MWh of battery storage. Its popular Z Lite lease-to-own model allows users to pay monthly for up to 10 years, making clean energy more accessible amid rising fuel and electricity costs.
The company plans to install over 12,000 new systems by 2029 and is exploring local debt financing to support energy-as-a-service projects for multinationals.
This funding strengthens Arnergy’s mission to deliver reliable, affordable solar energy to underserved communities in Nigeria.
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