WATT Renewable Corporation, a prominent player in the renewable energy sector, has secured a substantial investment of $13 million from Empower New Energy. This funding injection is poised to be a game-changer in advancing WATT's operations in Nigeria and strengthening its position as a provider of sustainable energy solutions.
The financial infusion from Empower New Energy will empower WATT to expand and enhance its renewable energy portfolio significantly. The company plans to increase its installed generating capacity by 8 megawatts (MW) while bolstering its storage capacity with an impressive addition of 14.3 megawatt-hours (MWh). These upgrades will be achieved through comprehensive end-to-end services and the operation of towers across Nigeria.
Of notable significance, this funding marks a historic milestone for Empower New Energy, as it represents the largest investment made by the organization to date. The partnership underscores a shared commitment to advancing clean energy solutions in the region.
Oluwole Eweje, CEO of WATT, expressed gratitude for the support received from Empower New Energy, stating, “This funding injection will play a pivotal role in furthering our mission, and we are immensely grateful to Empower New Energy for their trust and support. With this funding, we are well-positioned to continue serving the telecoms industry with reliable, sustainable energy solutions.”
Eweje also highlighted the broader regional impact of this collaboration, noting, “WATT is excited to embark on this transformative journey with the support of Empower New Energy. Together, we will accelerate the transition to clean energy sources, benefiting not only Nigeria but the entire region.”
This strategic partnership between WATT Renewable Corporation and Empower New Energy not only marks a significant financial milestone but also serves as a testament to the growing importance of renewable energy in Nigeria's energy landscape.
