Daystar Power, a Nigerian company that specializes in providing hybrid solar power solutions for commercial and industrial (C&I) firms in West Africa, has announced that Shell has completed the acquisition of the company.
This comes after regulatory authorities gave their clearance.
One of the top off-grid power service providers in Africa, Daystar Power was established in 2017. Its “Solar-as-a-Service” and “Power-as-a-Service” solutions offer dependable, clean power while drastically lowering customers’ overall power expenditures.
Shell has recently bought the company, which counts among its clients some of the top industrial and commercial organizations in the area.
The company’s integrated power value chain is being developed by Shell’s Renewables & Energy Solutions business, which has developed and deployed onshore and offshore wind, solar, and batteries to create electricity and aggregate, trade, and market it directly to customers, including in emerging economies.
The co-founders and management of Daystar Power will continue to work for Shell as a fully owned subsidiary of Daystar Power within the Renewables & Energy Solutions division of Shell.
The CEO and co-founder of Daystar Power, Jasper Graf von Hardenberg, expressed his excitement over reaching this significant milestone. We are steadfastly devoted to our aim to cut energy costs and carbon emissions in light of the severity of the energy crisis and the strain it is putting on businesses in Africa. We can expand more quickly as a Shell company, offering our clients sustainable energy at competitive prices.
With the acquisition, Daystar will be able to expand its activities not only within West Africa but also the entire African continent. By 2025, the corporation wants to install 400MW worth of solar power.
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