Aluko & Oyebode advises Arnergy on $18 million Series B fundraise and restructuring
Aluko & Oyebode acted as legal counsel to Arnergy Solar Limited (“Arnergy”) on its Series B fundraising of up to USD 18 million from a consortium of global impact and clean energy investors. The firm also advised Arnergy on its internal corporate restructuring in connection with the fundraise.
The investment consortium comprised CardinalStone Capital Advisers Growth Fund LP, British International Investment PLC, Breakthrough Energy Ventures LLC, Norfund, EDFI Management Company SA, and All On Partnerships for Energy Access Ltd/Gte.
This milestone transaction will support Arnergy’s mission to provide clean, affordable, and sustainable energy solutions to homes and businesses across Africa. With this strategic investment, the company aims to scale operations, increase generation capacity, and expand services to underserved off-grid communities, strengthening its position as a leader in Africa’s renewable energy sector.
The Aluko & Oyebode team was led by Oludare Senbore (Partner), with support from Zacheaus Akanni (Senior Associate), Esther Yugbovwre (Associate), and Precious Odia (Associate).
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