Solar Demand Surges in Nigeria

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Bill Gates-backed Arnergy to expand solar access in Nigeria with $18M as demand surges | TechCrunch

Summary

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81% Informative

Arnergy just raised $15 million Series B extension, bringing total for the round to $18 million .

Surge in demand for solar energy in power-starved Nigeria has soared in the last decade thanks to worsening grid reliability and rising fuel costs.

Arnergy has deployed over 1,800 systems across 35 Nigerian states, totaling 9MWp of solar and 23MWh of battery storage.

According to the CEO, Nigeria needs to create an environment with the right infrastructure, policy stability, and access to capital so that local factories can ramp up over the next 3 to 5 years . Only after that should the country start thinking about phasing out imports. “We’re advocates for local manufacturing. But let’s build capacity before shutting the door on imports. Otherwise, we risk doing more harm than good, both to the industry and to the millions of Nigerians who now rely on solar as their primary energy source,” he remarked..

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semi-formal

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English

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not hateful