In a significant development for Nigeria’s renewable energy sector, WATT Renewable Corporation, a leading provider of hybrid solar solutions, has successfully secured $13 million in funding from Empower New Energy.
The substantial investment is poised to accelerate WATT’s efforts in advancing renewable energy solutions in Nigeria.
Experts say it marks a significant milestone as the largest investment to date for Empower New Energy.
WATT Renewable Corporation specialises in developing and implementing hybrid solar energy solutions.
The company says it is committed to reducing its carbon footprint by applying innovative technologies in renewable energy.
One of the experts in renewable energy, Oti Adoga, said:
”This substantial funding infusion underscores the growing prominence of renewable energy in Nigeria’s evolving energy landscape.
”It signifies a promising shift towards more sustainable and environmentally friendly energy sources, and it is poised to impact the nation’s energy future profoundly.
”Notably, WATT Renewable Corporation is not the only player in the Nigerian renewable energy market making strides.”
Recall that competitor Auxano Solar, an indigenous solar solution provider, recently launched a state-of-the-art 100-megawatt automated Solar PV manufacturing plant following a successful $2 million investment.
Adoga said both milestones underscore the increasing interest and investment in the renewable energy sector within Nigeria.
”These investments in renewable energy infrastructure are vital to achieving energy sustainability, reducing carbon emissions, and expanding access to clean and reliable energy sources in Nigeria.
”They demonstrate a shared commitment to harnessing the power of renewable energy to meet the nation’s growing energy needs while contributing to global efforts to combat climate change.
”As Nigeria continues to explore and invest in renewable energy solutions, the future holds promising opportunities for sustainable, clean, and accessible energy for its citizens and businesses.
”The partnership between WATT Renewable Corporation and Empower New Energy represents a significant stride forward in this important journey towards a greener and more sustainable energy landscape,” he stated.
