Nigeria’s WATT Renewable Corporation (WATT) has achieved a significant milestone by securing a $13 million investment to further bolster its efforts as a leading autonomous provider of hybrid solar systems. This financial boost comes courtesy of Empower New Energy, a key player in the renewable energy sector, excelling in both financing and co-development.
Empower New Energy is renowned for its specialization in financing, constructing, and owning clean energy facilities tailored to the unique requirements of commercial, industrial, and agricultural energy users. With an impressive addition of 8MW in installed generation capacity and 14.3MWh of storage capacity, strategically managed within Nigeria, this marks Empower’s most substantial commitment to renewable energy to date. The investment is poised to have a profound impact on WATT’s ability to expand its renewable energy portfolio.
WATT’s core mission centers on providing hybrid solar solutions to mobile network operators, financial service providers, and commercial and industrial enterprises throughout Africa, thereby significantly bolstering electricity reliability up to an impressive 99.9%. Their turnkey sustainable energy-as-a-service model not only caters to the needs of businesses but also extends the benefits of a sustainable power source to local communities, underscoring their commitment to social impact.
Oluwole Eweje, the CEO of WATT, expressed profound gratitude towards Empower New Energy for their faith and financial support. He highlighted the significance of this funding in allowing WATT to continue delivering reliable and sustainable energy solutions, particularly to the telecommunications sector.
With this substantial injection of capital, WATT is now well-positioned to expedite its efforts in promoting renewable energy solutions. This will serve to further solidify its standing as the foremost provider of clean energy in Nigeria, a testament to their dedication to advancing renewable energy and ensuring a brighter, more sustainable future for the region.
WATT Renewable Corporation has secured a vital $13 million investment from Empower New Energy, enabling them to continue their mission of delivering reliable and sustainable energy solutions in Nigeria and across Africa. This significant funding will allow WATT to accelerate its initiatives and strengthen its position as a leader in the clean energy sector.
