Our investment is reducing Nigeria’s reliance on diesel for electricity, by expanding access to solar energy for SMEs and households.
According to the International Energy Agency (IEA), Nigeria experiences more power outages than any other country, and its electricity generation ranks among the lowest globally. For many Nigerian households and businesses, diesel generators have long been the default backup, but they are expensive, unreliable and polluting. Solar power offers a cleaner, more affordable alternative that can support climate goals while meeting Nigeria’s urgent need for dependable energy.
In 2024, we committed £2 million to Arnergy Solar Limited, a Nigerian company delivering solar solutions to homes and businesses. Founded in 2013, Arnergy already serves a growing customer base, over half of which are SMEs. The co-investment, made alongside Cardinal Stone Advisors, will help scale up both Arnergy’s solar home systems (SHS) and commercial and industrial (C&I) installations across the country.
The project is expected to grow the number of Arnergy solar systems from 568 to nearly 13,000 by 2029. This expansion will help SMEs reduce their energy costs, improve productivity and operate more reliably. The environmental impact is also significant, with the project expected to avoid over 267,000 tonnes of CO₂ emissions by 2029, supporting Nigeria’s shift to a more sustainable energy future.
Caption: Arnergy is supplying businesses across Nigeria with clean, reliable power.
