Renewable Energy Solutions Company WATT Raises $13 Million in Funding

Renewable Energy Solutions Company WATT Raises $13 Million in Funding

By Staff Writer, 09 October 2023

Nigerian firm WATT Renewable Corporation, a leading provider of hybrid solar solutions, has secured a significant funding injection of US$13 million.

The funding, provided by Empower New Energy, a renewable energy financier, and co-developer, aims to propel WATT's efforts in advancing renewable energy solutions and solidifying its position within the clean energy sector in Nigeria.

WATT specializes in delivering hybrid solar solutions with a strong social impact to various sectors in Africa, enhancing power reliability and providing sustainable energy access to local communities through their Energy-as-a-Service model.

This investment is Empower New Energy's largest to date and will significantly boost WATT's renewable energy portfolio, adding 8MW of installed generating capacity and 14.3MWh of storage capacity in Nigeria, reinforcing their commitment to sustainable energy solutions.

CEO of WATT, Oluwole Eweje, expressed gratitude to Empower New Energy for a significant funding injection that will propel their mission forward.

The funding positions WATT to provide sustainable energy solutions to the telecoms industry, as stated by Eweje.

Additionally, WATT is enthusiastic about partnering with Empower New Energy to drive the shift towards clean energy sources, benefitting not just Nigeria but the broader region.

(Tom Jackson / Disrupt Africa)

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