Shell Increases Investment in Africa, Acquires Daystar Power

Shell Plc’s renewable energy division acquired Daystar Power, an off-grid services provider in West Africa, in its first acquisition of a power firm on the continent.

The takeover, which awaits regulatory approval, will enable Shell renewable and energy solutions business to deliver carbon emission reductions and power cost savings to commercial and industrial businesses across Africa, according to an emailed statement from Daystar.

Daystar, headquartered in Lagos, provides solar power solutions to clients in Ghana, Nigeria, Senegal and Togo, offering solar and hybrid power solutions with battery storage. The company has raised $97 million through multiple rounds of equity and debt financing, the most recent being a $20 million loan from the International Finance Corporation in July last year.

Daystar Power’s co-founders and management team will continue to grow its operations in its key West African markets while expanding its presence to other African countries in East and Southern Africa. Daystar Power targets to increase its installed solar capacity to 400MW by 2025 to become one of Africa’s leading providers of solar power solutions for commercial and industrial businesses.

“We have seen booming demand for solar energy in the African markets where we operate. That has been reflected in our growth: we are on track to increase our installed solar capacity by 135% in 2022,” said Jasper Graf von Hardenberg, CEO and Co-founder of Daystar Power. “As part of Shell, we will be able to execute our mission even faster to deliver carbon emission reductions and power cost savings to businesses across Africa.”

“This deal marks our first power acquisition in Africa and a fundamental step for Shell in growing our presence in emerging power markets. We have had a long and established presence in West Africa, and with Daystar Power, we are taking our first steps into the renewable power space,” said Thomas Brostrøm, Shell’s Executive Vice-President, Renewable Generation. “As we do this, we’re helping to address a critical energy gap for many who currently rely on diesel generators for backup power. Daystar Power has a loyal customer base and a promising growth outlook, and by combining our efforts and expertise, I believe we can make a real difference in the energy transition for West Africa and beyond.”

The acquisition will allow the West African commercial and industrial (C&I) solar provider to grow its regional operations while expanding across the African continent.

Leave A Reply

Your email address will not be published.

ituder.orgYalova escortizmir escortpornokartal escortbodrum escortAntalya escortonwin girişKastamonu escortMuğla EscortIsparta escortizmir escortankara escortkayseri escorteryaman escortSweet bonanza demoCasinoslotBahisnowsugar rush oynaPendik EscortPendik Escortistanbul escortAviator oynaSweet bonanza demogates of olympus demo oynagates of olympus oynaKurtkoy Escortanadolu yakası escorthalkalı escortmaltepe escortFlorya Kolombiya EscortYeşilköy otele gelen escortOtele Gelen Escort Yeşilköyotele gelen escortmerter eskort listesiflorya bayan escortrus escort floryaataköy escort nehirfethiye escortısparta escortEscort Bayanbeylikdüzü escortbuca escortTürkiye Escort, Escort Bayanmarmaris escortgüneşli escortBahçeşehir escortizmir escortBursa Escortcasino sitelerideneme bonusu veren sitelerituder.orgYalova escortizmir escortpornokartal escortbodrum escortAntalya escortonwin girişKastamonu escortMuğla EscortIsparta escortizmir escortankara escortkayseri escorteryaman escortSweet bonanza demoCasinoslotBahisnowsugar rush oynaPendik EscortPendik Escortistanbul escortAviator oynaSweet bonanza demogates of olympus demo oynagates of olympus oynaKurtkoy Escortanadolu yakası escorthalkalı escortmaltepe escortFlorya Kolombiya EscortYeşilköy otele gelen escortOtele Gelen Escort Yeşilköyotele gelen escortmerter eskort listesiflorya bayan escortrus escort floryaataköy escort nehirfethiye escortısparta escortEscort Bayanbeylikdüzü escortbuca escortTürkiye Escort, Escort Bayanmarmaris escortgüneşli escortBahçeşehir escortizmir escortBursa Escortcasino sitelerideneme bonusu veren sitelerSütunlar güncellendi.
TikTok Takipçi Satın Alistanbul saç ekimiimplantizmir saç ekimiizmir evden eve nakliyatgaziantep evden eve nakliyateskişehir inşaat firmalarıantalya haberkartal antika eşya alanlarantika alanlaristanbul evden eve nakliyatDeselerMasal OkuMasallar OkuEtimesgut evden eve nakliyateskişehir saç protezibayraklı psikologİstanbul İzmir eşya taşımabatman evden eve nakliyatresim yüklemeEtimesgut evden eve nakliyatİstanbul izmir evden eve nakliyatgizli kameraeskişehir televizyon tamiriTikTok Takipçi Satın Alistanbul saç ekimiimplantizmir saç ekimiizmir evden eve nakliyatgaziantep evden eve nakliyateskişehir inşaat firmalarıantalya haberkartal antika eşya alanlarantika alanlaristanbul evden eve nakliyatDeselerMasal OkuMasallar OkuEtimesgut evden eve nakliyateskişehir saç protezibayraklı psikologİstanbul İzmir eşya taşımabatman evden eve nakliyatresim yüklemeEtimesgut evden eve nakliyatİstanbul izmir evden eve nakliyatgizli kameraeskişehir televizyon tamiriSütunlar güncellendi.