Beeg Energy NG
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Date of Foundation
2024

Beeg Energy NG

Solar VPPs replacing diesel for affordable, sustainable energy.

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The Idea origin story

Beeg Energy NG is revolutionizing the energy sector by developing Institutional Virtual Power Plants (VPPs) that substitute diesel generators with more sustainable, affordable solar and battery storage solutions. We aim to prove our model's viability through a pilot at FUOYE, subsequently leveraging green bonds, loans, and various other sustainability-linked funds to extend our reach across Southwest Nigeria. Our innovative system deploys smart metering for transparent billing, in turn, promoting optimized energy use and fiscal sustainability.

The Mission

Vision: Pioneering Africa's clean energy transition via affordable, carbon-backed VPPs. Mission: Leveraging carbon credits to scale institutional clean energy across Nigeria.

Clients

Our customers are multi-property institutions reliant on fossil-based energy. We replace this with more reliable, affordable solar VPPs.

Problems we solve

Client’s problem

Our solution addresses the financial strain, energy insecurity, and environmental damage caused by diesel generators in institutions. We offer cost-effective & dependable solar VPPs backed by carbon credits reducing costs significantly.

Confirmation of problem

This is serious because it’s African climate action, grounded in our reality, where energy access is the priority and climate change a close second.

Solution

Our solution is to transition institutions from diesel generators to affordable, reliable solar-based Virtual Power Plants backed by carbon credits.

Our technologies

This solution is based on technologies

How it works

Beeg Energy deploys solar VPPs and smart metering, subsidized by carbon credits, offering cheaper clean energy and less investment risk.

Value for the client

With our solution, institutions achieve reduced energy costs, transparent usage tracking and a de-risked investment into sustainable power.

Market and strategy

Market size

1200

mln/year

We estimate the market size for which our solution is designed in monetary terms as follows

Market share goal

0.5

% of the market

Is our goal in the next 3 years

Team

My name’s

Leo-Adegun Favour

My key role in the product

I spearhead Beeg Energy's strategic direction, fundraising efforts, and key partnerships to upscale our carbon-backed VPPs across Nigeria.

Team size and key members

Our team: CTO Ibraheem leads VPP design, COO Desmond handles regulation & deployment, CFO Adekoya oversees finances & carbon credit monetization.

Competitors

Competitors

Competitors like Arnergy, Daystar Power, Rensource, GVE and Zola offer solar/mini-grid solutions for homes and SMEs. Our uniqueness lies in tackling diesel dependency via affordable and sustainable energy solution with the aid of Solar VPPs.

Our Advantages

Our product boasts cost-effective financing, robust after-sales support, and minimal downtime due to our reliable design and proactive real-time maintenance monitoring. Our unparalleled approach lets us outperform higher-cost competitors and cater to a broad range of markets rapidly.

Business model

Our revenue comes from per‑kWh sales via PPAs with universities—delivering power cheaper than diesel—and from monetizing high‑integrity carbon credits via forward or OTC sales.

Traction

Over the past six months, we've secured a finalist position in SMIAc Energy Entrepreneurship (funded by Octopus), attained an LOI from FUOYE, initiated talks with Verra validators and technical partners, commenced raising pre-seed funds for our pilot carbon-credits project.

Before exhausting our funds, we'll have secured Verra registration and emissions inventory, completed the PDD, obtained crucial regulatory approvals along with the FUOYE LOI, and commenced collaborations for pilot implementation with technical partners.

Metrics

Key metrics involve tracking LOIs/PPAs, comparing our cost benefit against diesel and recognizing the potential for carbon credits. Notably, we've expanded institutional LOI count while maintaining a reliable cost advantage alongside initiating registration of our pilot project in carbon credits - reaffirming growing stakeholder engagement.

Currently pre-revenue, our operations are fuelled by bootstrapping and a £500 grant from Octopus Energy. Our ongoing pilot project is supported primarily by founder contributions rather than external funding.

Incorporation

Our company incorporated in

Nigeria

Key risks

Main risks include potential regulatory changes, difficulty in obtaining sufficient funding, technological failure of our solar VPPs or smart meters, and slow customer adoption due to reluctance towards new energy solutions.

Investments

$

1875

We raised investments

Our Investors

We've only been bootstrapping and got 500£ grant from Octopus Energy

Rising Investments

$

100000

Currently, we are raising investments

$

$900000

Estimated pre-investment valuation of the company

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We’re looking for a co-founders

Open positions

Article

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Additional information

Beeg Energy accelerates climate action by replacing diesel generators with renewable energy. Our scalable VPP model lowers emissions, unlocks carbon credits, and delivers sustainable, affordable power for institutions—driving Africa’s low‑carbon energy future.

Beeg Energy NG
Idea
Date of Foundation
2024