Lagos, Nigeria — April 12, 2024 — Ignite, a leading provider of affordable and sustainable energy solutions across Africa, has announced the successful acquisition of Oolu, a prominent solar energy company with deep roots in West Africa. This strategic move marks a significant step in Ignite’s mission to expand renewable energy access across the continent, particularly in underserved rural and peri-urban communities.
Pioneering a New Era of Clean Energy in West Africa
The acquisition of Oolu underscores Ignite’s commitment to empowering communities by bridging the energy access gap in West Africa. By combining the strengths of both companies, Ignite aims to enhance its reach and impact, bringing reliable, cost-effective solar solutions to millions of households and businesses. This collaboration is set to accelerate the adoption of clean energy technologies, drive sustainable economic growth, and improve the quality of life for people in the region.
“We are thrilled to welcome Oolu into the Ignite family,” said Yariv Cohen, CEO of Ignite. “Together, we are poised to transform the energy landscape in West Africa, offering innovative and inclusive solutions that address the unique needs of local communities. This acquisition is a testament to our unwavering dedication to advancing clean energy access and delivering impactful solutions that address the growing demand for sustainable energy access in underserved regions.”
Synergizing Capabilities for Greater Impact
Founded in 2015, Oolu has established itself as a leading provider of off-grid solar solutions, with a strong presence in Nigeria, Senegal, Mali, and Burkina Faso. The company’s expertise in delivering affordable solar home systems and productive-use appliances has made a significant impact on the lives of thousands of customers. By leveraging Oolu’s extensive distribution network and local market knowledge, Ignite aims to scale its operations, bringing solar power to even more off-grid areas in West Africa.
Dan Rosa, Co-Founder and CEO of Oolu expressed his enthusiasm for the partnership, stating, “Joining forces with Ignite is a natural fit for Oolu. Our shared vision of providing affordable, clean energy to underserved populations aligns perfectly. This partnership will enable us to expand our footprint and offer even greater value to our customers.”
This acquisition exemplifies Ignite Energy’s ongoing commitment to driving innovation and sustainability in the renewable energy sector. The combined strengths of Ignite and Oolu will enable the delivery of scalable, accessible, and reliable energy solutions to even more communities, driving positive environmental and social impact.
Driving Sustainable Development and Economic Empowerment
The acquisition aligns with Ignite’s broader strategy to support the United Nations’ Sustainable Development Goals (SDGs), particularly SDG 7, which aims to ensure access to affordable, reliable, and sustainable energy for all. By expanding its operations in West Africa, Ignite is set to play a critical role in reducing energy poverty, promoting sustainable economic development, and supporting climate resilience in the region.
“Oolu Energy has established itself as a trusted provider of off-grid solar solutions, serving thousands of customers in West Africa,” said Monica Uduku, Senior Manager, Marketing and Partnerships. “The merger between Oolu Energy and Ignite underscores a shared commitment to innovation, sustainability, and community empowerment, with enhanced resources, technology, and market reach to further accelerate its growth and impact”. By integrating Oolu’s expertise in energy efficiency with Ignite’s leadership in solar energy, we are well-positioned to unlock new opportunities and redefine the standards for renewable energy excellence.”
For media inquiries or further information, please contact:
Monica Uduku
Senior Manager, Marketing & Partnership.
monica.uduku@ignite.solar https://nigeria.oolu.energy/
About Oolu Energy
Oolu Energy is a leading provider of solar energy solutions, committed to delivering affordable and reliable renewable energy access to underserved communities across West Africa. With a focus on innovation, sustainability, and social impact, Oolu Energy empowers households and businesses to harness the power of the sun and transform their lives and businesses through clean energy. Oolu’s mission is to provide sustainable energy and financial services to the over 150 million people living off-grid in West Africa. Leveraging business solutions to address energy poverty and financial inclusion, Oolu provides high-quality products, local-language customer service, and market-adapted finance plan to individuals, businesses and communities across the region. With ambitious plans for regional growth and product innovation, Oolu remains focused on creating access and financial inclusion for all, creating new opportunities for off-grid communities.
About Ignite Power
Ignite a pioneering force in advancing renewable energy efficiency, dedicated to driving sustainable development, environmental stewardship and redefining infrastructure through life-enabling technologies, bringing infrastructure gaps while leading Africa into a more sustainable, inclusive future. With strategic partnership the basic services such as internet access, electricity, and healthcare are essential for human development and deserved by all. Ignite is bridging the infrastructure gaps, leading Africa into a more sustainable, inclusive future. The vision is an inclusion reality for families and communities everywhere, no matter their location or financial status. Ignite believes that basic services such as electricity, education, and healthcare are essential in establishing this reality, and put emphasis on redefining infrastructure in the region to provide better opportunities.
Through strategic initiatives and innovative technologies, Ignite promotes energy conservation, optimization, and resilience, paving the way for a greener, more resilient future.
Gal Cohen
Head of Marketing
gal.cohen@ignite.solar Ignite-power.com
