At Arielle Advisory, we believe that Africa’s energy future lies in bold, inclusive, and sustainable investments. The recent $18 million Series B raise by Nigeria’s Arnergy Solar, led by CardinalStone Capital Advisers Growth Fund (CCAGF), is a powerful validation of this vision — and a sign of what’s to come in Africa’s evolving renewable energy landscape.
In a deal that signals deep confidence in Africa’s solar potential, CardinalStone Capital Advisers (CCA), a leading West Africa-focused private equity manager, has joined forces with British International Investment (BII), Norfund, Breakthrough Energy Ventures, EDFI Management Company, and All On to back Arnergy’s next phase of growth. This final investment from CCAGF reflects a strategic commitment to climate-forward, commercially viable African enterprises — the kind Arielle Advisory proudly champions in our own deal pipeline and partnerships.
“This funding enables us to extend our high-quality solar products and services to the mainstream at competitive rates,” said Femi Adeyemo, founder and CEO of Arnergy. “With a nationwide expansion of our innovative zero-down, rent-to-own models, we are leveraging strategic distribution partnerships to provide a highly reliable alternative to traditional energy sources.”
Arnergy’s growth strategy aligns closely with Arielle Advisory’s investment philosophy: enabling businesses that bridge infrastructure gaps through sustainable models and inclusive financing. Their rent-to-own approach and expansion into underserved communities present a template for distributed energy success in West Africa — and a potential model for replication across the continent.
Shirley Somuah, Partner at CCA, echoed this sentiment:
“Arnergy has been a pioneer in mid-scale, innovative, affordable off-grid solar. Our investment is closely aligned with our premise of backing businesses that meet fundamental unmet demand — with climate being a key theme.”
As Africa works toward its SDG and net-zero goals, this investment is more than capital injection — it’s a catalyst for energy equity, economic resilience, and green job creation. BII’s Benson Adenuga highlights this intersection perfectly:
“This initiative will facilitate the installation of more solar systems across the country. It will drive sustainable economic growth by providing clean energy sources and empower more Nigerians and their businesses.”
At Arielle Advisory, we see transactions like this as a blueprint for how catalytic capital, smart structuring, and pan-African partnerships can unlock the continent’s next wave of climate innovation. From structuring hospital financing that integrates solar, to advising manufacturing clients on climate-focused funding options, we’re constantly looking for opportunities where capital meets purpose.
As CCAGF concludes its investment journey with this final deal, Arnergy’s growth signals a strong future for private equity participation in Africa’s clean energy sector — one that is bold, collaborative, and deeply aligned with our values at Arielle.
To learn more about how we help structure climate-aligned investments across Africa, or to explore co-investment opportunities in the energy transition space, connect with the Arielle Advisory team today.
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