WATT Renewable Corporation (WATT), a provider of hybrid solar solutions, has secured US$13mn in funding from Empower New Energy, a renewable energy financier and co-developer, to advance renewable energy solutions and fortify its position as a leading provider of clean energy in Nigeria
The funding – the largest investment to date for Empower New Energy – will enable WATT to enhance its renewable energy portfolio and add 8MW of installed generating capacity alongside 14.3MWh of storage capacity through end-to-end services and operation of towers in Nigeria.
“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,” remarked 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.”
Terje Osmundsen, CEO at Empower New Energy, remarked, “We are thrilled to collaborate with WATT Renewable Corporation to provide electricity to telecom towers and communities in Nigeria. With their substantial experience and numerous ongoing projects in the country, this investment will empower them to expand their efforts in supporting businesses and fostering the growth of communities, especially in remote regions. We are truly impressed with the remarkable work WATT has accomplished thus far, and this investment will undoubtedly enable them to sustain their significant and transformative impact.”
