Arnergy Solar Limited, a solar energy solutions provider, said it will be raising $9 million (about N3.42 billion) to provide solar power solutions to Nigerian Small, and Medium scale Enterprises (SMEs).
The Chief Executive Officer, Arnergy Solar Limited, Mr. Femi Adeyemo, disclosed this during the signing of the grant agreement with other parties under the Nigeria Electrification Project (NEP), a World Bank-funded programme of the Rural Electrification Agency (REA).
“On the agreement that we have signed, we will continue to deepen and accelerate what we have been doing which is deploying solar home systems to small and medium enterprises across the country,” he said.
He also said the firm is targeting to impact 20,000 businesses by 2024. “We are already on track and this MoU has given it a boost.”
The Component Head, Solar Home Systems of NEP at World Bank, Ifunanya Nwandu-Dozie, said the Output-Based Fund was launched in April 2019 and that 12 companies have signed agreements to execute solar energy projects.
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