Arnergy's pay-as-you-go solar power system allows customers to lease solar equipment instead of buying it, paying a fixed price of $10 or $30 per month for electricity in rural and urban areas respectively. One of the obstacles to renewables adoption in Nigeria, which is fraught by an unreliable electricity supply, is said to be the high upfront cost of buying the equipment. While it has been a successful experiment in urban centers, The company has also launched its own mobile phone service that offers free calls from any number within Nigeria. The company is looking to raise more capital to grow, however, it may face headwinds to do so, as most Nigerian investors do not yet to view renewables as a high growth area.
Arnergy's pay-as-you-go solar power system allows customers to lease solar equipment instead of buying it, paying a fixed price of $10 or $30 per month for electricity in rural and urban areas respectively. One of the obstacles to renewables adoption in Nigeria, which is fraught by an unreliable electricity supply, is said to be the high upfront cost of buying the equipment. The company has also launched its own mobile phone service that offers free calls from any number within Nigeria. The company is looking to raise more capital to grow, however, it may face headwinds to do so, as most Nigerian investors do not yet to view renewables as a high growth area.