Following regulatory clearance, Nigeria’s Daystar Power, a West African-focused supplier of hybrid solar power solutions to commercial and industrial (C&I) sectors, has announced the completion of its purchase by Shell.
One of the top off-grid power service providers in Africa, Daystar Electricity 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 business, which counts some of the major industrial and commercial organizations in the area among its clientele. By developing and deploying onshore and offshore wind, solar, and batteries to produce power and aggregating, trading, and direct marketing it to customers, including in emerging markets, Shell’s Renewables & Energy Solutions business is the driving force behind the development of the company’s integrated power value chain. This includes emerging markets.
Daystar will be able to expand throughout Africa as a result of the acquisition, as well as in the West African area. By 2025, the firm wants to reach a 400MW installed solar capacity.
Daystar Power’s co-founders and management team will continue to work for Shell as a fully owned subsidiary of Daystar Power under the Renewables & Energy Solutions division of Shell.
“We are thrilled about the completion of this major milestone,” said Jasper Graf von Hardenberg, CEO and co-founder of Daystar Power. “Given the urgency of the energy crisis and the pressure on businesses across Africa, we are deeply committed to our mission to reduce energy costs and carbon emissions. As part of Shell, we can grow faster in delivering clean and affordable energy to our customers.”