This puts serious weight behind its goal to become the core operating platform for decentralised power systems.

The Berlin-based company confirmed it has raised $22 million in Series A equity alongside a $1.2 billion debt facility, taking total committed capital to $1.222 billion. 

The equity round was led by MMC Ventures and QED Investors, with backing from Lowercarbon Capital, BNVT Capital, Bosch Ventures, Centrotec and Earthshot Ventures. 

A major European bank is providing the debt to support customer and installer financing, reinforced by a €300 million guarantee from the European Investment Fund.

Cloover is responding to the high demand for home energy systems, which lack adequate machinery needed to deploy them at scale, as they are badly out of date. Installers still rely on patchy software, slow approvals and limited access to capital. 

Banks, on the other hand, are not built to finance thousands of small residential projects quickly. The result is delay, higher costs and missed opportunities.

Cloover’s model cuts through that bottleneck by placing financing inside the installer’s daily workflow. Instead of treating funding as a separate step, the platform links sales, procurement, financing and long-term energy management in one system designed specifically for distributed energy assets.

The company uses data-led credit assessments that focus on long-term energy savings, rather than relying only on standard credit scores. It also advances public subsidies upfront, so households do not have to wait months to benefit from state support. 

For investors, the platform offers exposure to a new infrastructure asset class, backed by live performance data and clear impact tracking.

“With this $1.2 billion commitment, we’re enabling households to become energy independent, without the friction of upfront costs or complex loan applications. Our AI operating system connects stakeholders across the value chain and revolutionises how energy independence becomes the new norm,” said Jodok Betschart, co-founder and chief executive of Cloover.

On the ground, installers using the platform can offer financing at the point of sale, shorten payment cycles and reduce paperwork. Cloover says its partners generate, on average, 30% additional revenue by reaching customers they previously could not serve. 

Homeowners, meanwhile, gain access to solar, batteries, heat pumps and EV charging with no heavy upfront spend, and typically cut energy bills by 20 to 30% through better system performance and financing terms.

The company’s growth numbers reveal why investors are paying attention. Cloover reports that revenue grew more than eightfold in 2025 while being profitable, nearing $100 million in sales. It is targeting $500 million in 2026 and $1 billion the year after.

That growth is being driven by the dynamism in the energy market. Electricity demand is getting higher, grids are under stress, and electric vehicles are adding new pressure points. 

With households currently seeking better management over costs and reliability, governments establish policies that favour decentralised generation.

“Cloover is not just about financing – we’re building the backbone for energy independence. We are creating the Shopify of Energy: a platform that equips manufacturers, installers, households, and investors with the tools to grow, collaborate, and deliver distributed energy at scale,” said Valentin Gönczy, co-founder and chief product officer.

Founded after extensive research with installers across Europe, Cloover was built around a simple insight: demand was not the issue, infrastructure was. 

Financing emerged as the biggest limitation, and the company set out to fix it without competing with installers themselves.

With fresh capital in place, Cloover plans to enter more European markets, including France, Italy, the UK and Austria, while expanding its product suite with solid automation and new financing tools. 

The longer-term goal is to run the digital backbone of decentralised energy, connecting households, installers, manufacturers and investors through a single platform built for scale.

This brings Meta’s total clean energy capacity from Invenergy to 1,800 MW, nearly doubling its earlier figure of 1,000 MW. It’s a direct response to the high energy demands driven by the company’s AI-focused infrastructure.

The new deals cover four major renewable projects scheduled to come online between 2027 and 2028: Yellow Wood Solar (300 MW) and Pleasant Prairie Solar (140 MW) in Ohio, Decoy Solar (155 MW) in Arkansas, and Seaway Wind (196 MW) in Texas. 

The electricity from these sites will feed into their respective regional power grids, but Meta will retain the renewable energy credits, effectively allowing the company to account for the clean power in its carbon reporting.

While financial terms remain undisclosed, the scale and scope of the deal involve Meta committing long-term to a diversified clean energy mix to meet the immense demands of AI processing.

Ted Romaine, executive vice president of Origination at Invenergy, said the partnership goes beyond another supply deal. “Winning the AI race requires reliable, cleaner, affordable energy and energy infrastructure — today and in the future. We’re grateful for our continued relationship with Meta and look forward to future partnerships as we work to strengthen American energy independence and economic prosperity.”

Meta recently inked a 20-year agreement with Constellation Energy for 1.1 gigawatts of nuclear energy from the Clinton Clean Energy Centre in Illinois. It also joined forces with geothermal developer XGS Energy to build a 150 MW water-independent geothermal facility in New Mexico.

Urvi Parekh, Meta’s Head of Global Energy, stressed the urgency behind these moves. “We’re laser-focused on advancing our AI ambitions—and to do that, we need clean, reliable energy. We’re grateful for Invenergy’s longtime partnership that helps us support our energy needs and implement our clean energy goals, and look forward to continued collaboration.”

At the heart of this strategy is a transition toward long-term, stable, and zero-carbon energy sources that can reliably support Meta’s future AI workload. 

The company’s model now relies on both immediate and forward-looking procurement, blending traditional renewables with more experimental and baseload options like nuclear and geothermal.

These infrastructure investments are expected to yield economic benefits. Beyond environmental impact, the projects are projected to create jobs and strengthen local economies in the host states, while also supporting national efforts towards energy independence.

Invenergy, headquartered in Chicago, is currently the largest privately owned clean energy developer in the United States. Its role in powering Meta’s massive data infrastructure reveals how private-sector energy partnerships are becoming indispensable to the tech industry’s future.

The flagship outlet, located at the bustling Alaba International Market, marks a major step forward in the company’s mission to deliver accessible, clean energy to Nigerians.

The grand opening, held on Saturday, May 10th, brought together industry leaders, market stakeholders, customers, and itel Solar Energy executives for a day of innovation, engagement, and celebration.

Guests experienced live product demonstrations, interactive displays, and one-on-one consultations with itel’s team of energy experts.

The Alaba store is designed to serve as a central access point for itel Solar Energy’s growing customer base. It will offer a comprehensive range of products, including solar panels, inverters, batteries, and complete solar home systems.

The centre will also provide expert installation, advisory services, and reliable after-sales support, ensuring customers enjoy a smooth and sustainable transition to solar energy.

Speaking at the event, Olaotan Fawehinmi, PR manager, itel Solar Energy, highlighted the company’s unique value proposition in a competitive market.

According to him, “We are excited to bring Itel Solar Energy’s affordable and reliable solar solutions to Alaba Market.

“But beyond affordability, what sets us apart is the solid quality of our products and our commitment to after-sales service. We offer a 3-year replacement warranty on our inverters and a 5-year replacement on our batteries, something you don’t often see in this market.”

“Additionally, our Carlcare service centre is located right in the same building as our store, ensuring immediate support when needed. Also, with our Carlcare centres spread across all 36 states of Nigeria and the FCT, our customers are never alone after purchase.”

With a firm belief that solar energy should be simple, affordable, and accessible, itel Solar Energy has designed its solutions to be easy to install, operate, and maintain. The new store is expected to benefit local businesses and households alike, offering an alternative to unreliable grid power, high cost of fuel and unsafe fuel-based generators.

“We understand that different people have different energy needs, which is why we provide customized solutions for homes, shops, and small businesses. Today’s launch includes our new range of All-in-One solar solutions, specifically, the 3.6kWh AIO and the 500W AIO systems. These products are more affordable, require no installation, and are ideal for Nigerians seeking plug-and-play solar alternatives,” Fawehinmi said.

The Alaba launch is part of itel Solar Energy’s broader national expansion strategy, which includes establishing a network of customer-focused sales and service centres across Nigeria.

Through this initiative, the company aims to reach underserved communities, promote energy independence, and support the country’s transition toward a greener future.

And the company is not just talking anymore—it’s raising millions to back it up.

The Lagos-based solar startup just secured an additional $15 million in funding, bringing its Series B round to a total of $18 million. It’s a big move, but it’s in line with the times. Fuel subsidies are gone. Petrol is now luxury. And businesses that once saw solar as a nice-to-have are now treating it like a lifeline.

Arnergy’s CEO, Femi Adeyemo, said. “When we started the business, we used to position solar as a way to get uninterrupted power, not necessarily to save money. It wasn’t part of a commercial conversation. Now it is, because we can clearly show customers how our systems save them monthly whether using petrol, diesel, or even the grid.”

That’s the reality now. Cost is king. The company’s lease-to-own model, known as Z Lite, is suddenly the most attractive option for SMEs bleeding cash on energy. A customer paying ₦200,000 monthly on diesel can now spend less than half on solar. It’s not idealism—it’s survival.

In just one year, Arnergy tripled its lease customers. And according to Adeyemo, the company is aiming for 4 to 5 times growth again this year. Its revenue in naira is also climbing fast, although forex issues have kept the dollar figures stagnant. That hasn’t stopped the company from expanding B2B partnerships and eyeing markets in Francophone Africa.

So far, Arnergy rolled out over 1,800 solar systems in 35 states, powering schools, hospitals, banks, and homes. With this new funding—led by CardinalStone Capital Advisers and backed by heavyweights like Breakthrough Energy Ventures, Norfund, EDFI MC, All On, and British International Investment—they want to reach over 12,000 installations by 2029.

But there are policy issues, with the Nigerian government recently floating a plan to ban solar panel imports. The goal? Boost local production. The problem? Local manufacturers aren’t ready. Not even close. And Adeyemo is calling it out.

“We’re advocates for local manufacturing. But let’s build capacity before shutting the door on imports. Otherwise, we risk doing more harm than good, both to the industry and to the millions of Nigerians who now rely on solar as their primary energy source.”

He’s not wrong. Nigeria still lacks the infrastructure, capital flow, and policy stability needed to mass-produce solar components locally. Slamming the brakes on imports could paralyse progress right when the industry is picking up steam.

Arnergy knows what it’s up against. Scaling clean energy in a country where policy shifts like sand in the wind isn’t easy. But their model—rooted in resilience and hard math—is working. No fluff. No greenwashing. Just numbers that make sense in a country desperate for alternatives.

And make no mistake, the company is more than a cleantech startup. Arnergy wants to rewrite how Nigeria powers its environs—quietly, cleanly, and without petrol fumes choking the air.

With over 85 million Nigerians lacking access to reliable electricity and businesses struggling with high operational costs due to power instability, the need for greater investment in solar energy has become more critical than ever.

PPC Power Division is committed to providing cutting-edge solar power solutions that will reduce dependence on the national grid and improve access to clean, affordable electricity.

Speaking on the urgent need for alternative energy solutions, Engr. Kelechi Onuigbo (PhD), head of Power Division at PPC, emphasized the critical role of solar power in bridging Nigeria’s energy gap.

“Nigeria’s power sector has faced persistent challenges, including insufficient generation capacity and infrastructure deficits. Rising electricity tariffs further strain households and businesses. At PPC Power Division, we are promoting solar energy as a viable solution to these challenges. Through scalable solar installations, hybrid systems, and smart energy storage solutions, we aim to provide Nigerians with uninterrupted and cost-effective power supply.

“Our solar energy solutions are designed for diverse applications catering to residential estates, large-scale commercial and industrial projects. We actively collaborate with key stakeholders, including government agencies, private sector players, and development organizations, to accelerate the adoption of solar power across Nigeria.”

Engr. Onuigbo further reiterated the importance of public-private partnerships in scaling solar energy adoption, calling on the government and private sector to work together to create an enabling environment for solar power investments.

He also stressed that incentives, infrastructure support, and regulatory reforms are crucial in making renewable energy more accessible and affordable for all Nigerians.

This collaboration aims to enhance energy access in underserved communities across Nigeria, while contributing to IHS’ broader efforts to reduce the environmental footprint of their operations. 

The partnership is a testament to both companies’ commitment to sustainability and innovation, highlighting their shared vision of providing essential services to underserved communities.

Jaza Energy, known for its innovative approach to clean energy access, will install solar-powered hubs, known as Jaza Hubs, at 250 IHS Nigeria sites in Nigeria. These hubs not only provide clean energy to help power the towers, but also offer a more sustainable energy source for local communities. 

The excess power generated by the solar panels on these hubs will be used to charge battery packs for local households and businesses, reducing reliance on diesel generators.

Closely aligned with this partnership’s sentiment is IHS Towers’ Project Green initiative. The initiative involves an investment of over $200 million between 2022 and 2024, as part of IHS Towers’ Carbon Reduction Roadmap and target to reduce kilowatt-hour emissions intensity by approximately 50% by 2030.

“Sustainability is a core value at IHS Towers. Project Green is part of our commitment to reducing our environmental footprint. This partnership with Jaza Energy complements this initiative, as we seek to integrate more solar solutions on our sites, and simultaneously help support local communities. In this case, by helping Jaza Energy provide more local households with access to battery packs for domestic use, as substitutes for diesel-powered generators.” stated Mohamad Darwish, CEO of IHS Nigeria.

The impact of the Jaza Hubs extends beyond providing power. Each hub acts as a one-stop energy shop, offering a vital service to communities that have traditionally lacked access to reliable electricity.

Jaza Energy’s unique model helps foster community development by employing local women to operate the hubs. This approach not only provides job opportunities, but also helps empower women within these communities, fostering local economic growth and social inclusion.

To date, Jaza Energy has delivered over 3 million solar battery swaps and reached more than 100,000 people in Tanzania and Nigeria with its clean energy solutions.

The company’s expansion into Nigeria, supported by its partnership with IHS Nigeria, is expected to reach approximately 200,000 more people by the end of 2025, bringing clean, renewable energy to some of the most underserved areas in Nigeria.

“By partnering with IHS Nigeria, Jaza will extend the reach of clean energy even further, building upon IHS Nigeria’s foundational role in connecting the nation. We are thrilled to collaborate with a company dedicated to sustainability, and we look forward to aiding IHS Nigeria’s journey towards a greener future.” said Jeff Schnurr, CEO of Jaza Energy.

IHS Towers has a track record of promoting sustainable energy solutions. The company’s efforts go beyond its current Project Green and comprehensive approach to reducing its carbon footprint.

Prior to Project Green, IHS Nigeria had already deployed hybrid power systems on over 9,000 sites across Nigeria between 2016-2018. By integrating solar power with traditional energy sources, these systems have helped reduce reliance on non-renewable energy sources. 

Beyond Jaza, as part of its commitment to community support, IHS Nigeria has implemented various initiatives to provide reliable power to local communities and essential services.

For instance, in 2022, the company donated 106 units of solar-powered streetlights across three Nigerian states, benefiting approximately 510,000 residents. 

The company also takes an active role in environmental stewardship and education. Through its Clean Air Campaign, launched in 2022, IHS Nigeria collaborated with external stakeholders to help address emissions.

Through media channels, IHS Nigeria sought to raise awareness about the importance of reducing air pollution and the role of sustainable energy solutions in achieving this goal.

IHS Nigeria also established an Energy Hub in Alimosho, Lagos State, a well-equipped space for entrepreneurs to develop innovative ideas and solutions that seek to contribute to the nation’s energy efficiency goals.

This hub serves as a focal point for energy-related innovation, providing a platform for collaboration and knowledge sharing among industry experts, entrepreneurs, and the broader community. 

The partnership between IHS Nigeria and Jaza Energy is more than just a business collaboration; it is a shared commitment to creating a sustainable and inclusive future.

By prioritising energy efficiency and embracing renewable sources such as solar power, both companies are helping pave the way for a brighter and more sustainable future.

The projected emissions reduction of approximately 32,600 – 33,000 tonnes of CO2e over the seven-year agreement, from the 250 hubs, is a step towards achieving Nigeria’s environmental goals.

In an era where access to reliable and clean energy is crucial for development, the IHS Nigeria and Jaza Energy partnership represents a model for how private sector collaboration can drive positive change.

While commenting on the frequent collapse of the national power grid, the attendant blackouts and its disruption of business activities, Dr Kelechi Onuigbo, the Head of Power Division at PPC, advised businesses to look into cost-effective alternative power solutions for uninterrupted power supply.

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He noted that even though solar panel installation and its storage systems have become more affordable, the efficiency of photovoltaic panels have not diminished in any way but improved with constant research and innovation.

As part of the global decarbonization and energy transition drive, the Nigerian government has demonstrated commitment by commissioning off-grid electricity projects that will ensure all Nigerians have uninterrupted electricity through investment in solar-powered mini-grids.

The Federal Government is implementing different initiatives targeted at achieving at least 30,000MW generation by 2030 with 30 per cent from renewable energy sources.

The energy expert commended the Federal Government for providing robust incentive programmes that ensured corporations and government facilities enjoy stable electricity through off-grid energy sources.

Onuigbo said, “It’s important for energy access to keep pace with population growth in the country. This is why we are advocating for increased investment in off-grid alternative energy solutions that provide stable electricity in the event of natural disasters or power outages. We are proud to be at the forefront of the drive for renewable energy in view of the climate change realities and the frequent collapse of the national grid.”

“The one-time investment and low maintenance of solar installations make it an affordable and preferable alternative power option for businesses and households. Constant electricity is key to survival of businesses and that is why PPC is committed to supporting organizations in bridging the infrastructure gap in Nigeria’s power sector.”

According to him, rapid advances in technology and available financing facilities has encouraged manufacturers to invest in expanding their production capacity, which has lowered the cost of solar panels.

He explained that solar panels can generate major utility savings for businesses that are considering reducing electricity costs, carbon emissions, or both.

PPC is dedicated to ensuring equitable electricity access in Nigeria and has over the years invested in grid infrastructure as well as affordable renewable energy solutions.