Nigeria, Empower Ink $11M Solar Deal

Key Figures & Findings: Empower New Energy, an impact investment platform focused on financing and co-developing solar projects in emerging markets, has signed a $11 million agreement with Nigeria’s Justrite Limited one of Nigeria’s largest indigenous supermarket chains, to deploy solar and battery energy storage systems across 21 of its retail stores nationwide. Announced via a press release, the deal marks a significant commercial clean energy milestone for Nigeria’s private sector and also a significant expansion of Empower’s commercial solar portfolio.

Statistics & Insights: The Installations are expected to significantly cut energy costs, reduce carbon emissions, and improve power reliability for Justrite’s operations.

Future Implications: If successful, the project could catalyze further private-sector investment into commercial solar in Nigeria, with possible scaling into other West African markets by late 2025. It may also establish a replicable model for clean energy integration in Nigeria’s retail sector.

Source: Empower New Energy