Nigeria’s Daystar Power, a West Africa-focused provider of hybrid solar power solutions to commercial and industrial (C&I) businesses, has announced the completion of its acquisition by Shell following the approval of regulatory authorities.
Founded in 2017, Daystar Power is one of the leading off-grid power service providers on the continent, with its solutions “Solar-as-a-Service” and “Power-as-a-Service” providing clean and reliable power while significantly reducing clients’ overall power costs.
The company, which counts the region’s leading industrial and commercial companies among its client base, has now been acquired by Shell. Shell’s Renewables & Energy Solutions business is the driving force behind the development of the firm’s integrated power value chain, developing and deploying onshore and offshore wind, solar and batteries to produce power, and aggregate, trade and market it directly to customers, including in emerging markets.
The acquisition will allow Daystar to grow its operations in the West African region, while expanding across the African continent. The company aims to increase its installed solar capacity to 400MW by 2025.
Daystar Power will operate as a wholly owned subsidiary of Shell under its existing brand within Shell’s Renewables & Energy Solutions business, while its co-founders and management team will stay on.
“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.”