The solar energy market in West Africa is experiencing promising growth. According to estimates by Ignite Power, the parent company of Westa Solar, the region has a potential of over 500 megawatts (MW) of installed solar capacity in the coming years. This favorable context has led AFRIGREEN, an investor specializing in renewable energy in Africa, to provide a strategic $15 million financing to Westa Solar.
This funding, structured as a senior debt, aims to strengthen the deployment of innovative and flexible solar solutions for the commercial and industrial (C&I) segments in West Africa. The goal is to address the increasing demand for reliable and affordable energy in these markets while reducing their reliance on costly and polluting diesel generators.
A Market with High Potential
West Africa, particularly Nigeria, offers fertile ground for solar energy initiatives. With a large population and a thriving commercial sector, the country faces major energy challenges: frequent power outages, unreliable infrastructure, and high operating costs.
In this context, businesses are seeking viable solutions to optimize their operational costs while ensuring continuity. C&I solar systems provide an ideal response by combining financial savings with improved energy reliability.
Westa Solar’s Ambitions
Westa Solar plans to use this financing to penetrate underserved markets, notably in Nigeria, as well as in other countries in the region. The company offers tailor-made solutions adapted to the specific needs of local businesses, ranging from solar equipment supply to innovative financing models.
This positioning enables Westa Solar to help companies reduce their carbon footprint while providing an economical and sustainable alternative to diesel generators.
A Strategic Partnership with AFRIGREEN
AFRIGREEN, recognized for its commitment to renewable energy in Africa, has invested in this project to support the energy transition and meet the growing demand for clean energy in the region. The partnership with Westa Solar reflects a shared commitment to accelerating the development of sustainable and resilient energy solutions.
This funding also marks a key milestone for Ignite Power, Westa Solar’s parent company, which aims to intensify its efforts on the continent. The company aspires to become a major player in Africa’s energy transition by leveraging the region’s strong solar potential.
