Nigeria startup targets the hidden friction slowing Africa’s solar investment boom
Africa’s renewable energy market is attracting growing interest from investors eager to finance solar projects, but the difficulty of verifying projects and monitoring them after they are built, continues to slow the sector’s growth.
Africa’s renewable energy market is attracting growing interest from investors eager to finance solar projects, but the difficulty of verifying projects and monitoring them after they are built, continues to slow the sector’s growth.
While commercial banks, development finance institutions and impact investors have increased funding for clean energy, developers say it can still take between nine and 12 months for a solar project to secure financing because of lengthy due diligence processes and concerns over the quality of project data.
Nigerian energy technology startup Telios believes solving this problem could unlock faster investment across Africa’s clean energy sector.
Speaking during a meet-up organised by Antler in Lagos, Olubunmi Olajide, co-founder and chief executive officer of Telios, said many renewable energy projects spend months exchanging documents with financiers trying to prove that project data is accurate before funding is approved.
“Normally, it can take commercial banks and specialised impact investors between nine and twelve months to evaluate and invest in a solar project. A huge chunk of that time is lost to back-and-forth due diligence asking if the project data is reliable and where it came from. Telios eliminates that uncertainty by providing verified real-time data that financiers can trust instantly,” Olajide said.
Telios acts as a technology platform connecting renewable energy developers seeking funding with banks and investment firms looking for lower-risk clean energy projects.
The company, which received early backing from venture capital firm Antler, says its software gives financiers access to trusted operational data while helping developers manage their power plants from a single digital platform.
The startup argues that lack of capital is no longer the biggest obstacle facing renewable energy in Africa.
Instead, the challenge is turning available capital into completed projects quickly.
Although governments across Africa continue to promote renewable energy to address electricity shortages, financiers remain cautious because many projects lack standardized data and transparent operational records.
This creates long approval timelines, increases transaction costs and delays electricity projects that businesses and communities urgently need.
Industry analysts say improving trust in project data could significantly reduce financing risks and encourage more private investment into the sector.
Telios is also addressing another problem that affects many solar developers after projects become operational.
Most renewable energy plants combine equipment from different manufacturers, including solar panels, batteries, inverters and smart meters. These systems often operate independently, making it difficult for operators to monitor overall plant performance.
Telios aggregates data from different equipment brands into a single dashboard, allowing operators to monitor electricity generation, customer payments, revenue, equipment health and system performance in real time.
Instead of waiting weeks to collect reports from different sites, operators receive instant alerts when equipment develops faults or requires maintenance.
“If a transformer goes down or a battery degrades, the system alerts the operator immediately, saving significant time and operational expenditure,” Olajide said.
Unlike platforms designed only for rural mini-grids or commercial solar projects, Telios says its software works across different electricity models.
The platform supports standalone solar installations serving remote communities, commercial off-grid systems powering factories and schools, as well as grid-connected renewable energy projects operating alongside electricity distribution companies.
That flexibility could become increasingly important as African countries pursue a mix of centralized and decentralized electricity systems to improve energy access.
Africa has one of the world’s largest untapped solar energy resources, yet hundreds of millions of people still lack reliable electricity. While investment in renewable energy continues to grow, many projects struggle to move from financial approval to construction because of slow verification processes, fragmented operations and limited visibility into project performance.
If platforms that improve transparency and reduce financing risks gain wider adoption, they could help shorten investment timelines, lower operating costs and accelerate the deployment of solar projects across the continent, thereby bringing Africa closer to its clean energy and electrification goals.
