To advance renewable energy solutions, Nigerian company WATT raised $13 M funding

To accelerate its efforts in advancing renewable energy solutions and solidify its position as a top supplier of clean energy in Nigeria, WATT Renewable Corporation (WATT), a privately held hybrid solar solutions provider, has received US $13 million in funding.

WATT offers mobile network operators, financial service providers, and C&I companies in Africa hybrid solar solutions with a social impact. Power reliability is raised to 99.9% thanks to the turnkey sustainable Energy-as-a-Service model, which also gives nearby communities access to a renewable energy source.

Empower New Energy, a financier and co-developer of renewable energy, provided the US $13 million funding. Empower New Energy finances, develops, and owns clean energy facilities for commercial, industrial, and agricultural energy users.

By providing end-to-end services and managing towers in Nigeria, it represents the largest investment Empower has made to date and will allow WATT to expand its renewable energy portfolio by adding an impressive 8MW of installed generating capacity and 14.3MWh of storage capacity.

“This funding injection will play a pivotal role in furthering our mission, and we are immensely grateful to Empower New Energy for their trust and support. With this funding, we are well-positioned to continue serving the telecoms industry with reliable, sustainable energy solutions,” said Oluwole Eweje, CEO of WATT.

“WATT is excited to embark on this transformative journey with the support of Empower New Energy. Together, we will accelerate the transition to clean energy sources, benefiting not only Nigeria but the entire region.”