Nigeria’s Distributed Utility Startup, Arnergy, Raises $9 Million
It is evident that distributed energy will rule this age for Africa. Yes, while heavy-asset distribution companies (DISCOs) are crying for no money, African renewable startups are raising tons of money. You do not need a seer to understand: remove government subsidy, most African electric utility firms will collapse. Investors are voting for the startups and those startups are chipping the market from the national grid, taking the best customers along. The implication is that over time, national grid players will enter severe paralysis as they will not have profitable customers to serve at least in residential power. Nigerian distributed…
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