UUBO advised CardinalStone Capital Advisers on US$18 million Series B fundraising for Arnergy Solar
Udo Udoma & Belo-Osagie (UUBO) advised CardinalStone Capital Advisers on the US$18 million Series B fundraising round for Arnergy Solar Limited, a leading Nigerian renewable energy company.
The Series B round was led by the CardinalStone Capital Advisers Growth Fund (CCAGF), jointly with British International Investment (BII). Additional investors included the Norwegian Investment Fund for Developing Countries (Norfund), Breakthrough Energy Ventures, EDFI Management Company, and All On Partnerships for Energy Access (All On).
This strategic investment will support Arnergy’s expansion in delivering affordable, reliable solar energy solutions to households and businesses in Nigeria. The funding will enhance access to clean energy, reduce reliance on fossil fuels, and contribute to Nigeria’s climate resilience and energy sustainability.
The UUBO team was led by Ozofu Olatunde Ogiemudia (Partner – Private Equity and M&A), with support from Tobechi Nwokocha, Etido David, Ayomide Soretire, Dumebi Anike-Nweze, Tobi Oladepo, and Adaobi Omosefe Uzo.
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