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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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Impact

Number of beneficiaries
3 000
Annual output (MWh/y)
13 500
GHG avoidance (tCO2eq/y)
5 000

Key indicators

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

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