Shell Acquires Lagos-Based Daystar Power

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Lagos-based Daystar Power has announced that it will be acquired by Shell subject to regulatory approvals, to deliver carbon emission reductions and power cost savings to commercial and industrial (C&I) businesses across Africa.

Speaking about the acquisition, Jasper Graf von Hardenberg, CEO, and Co-founder of Daystar Power says; “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.

Shell Acquires Lagos-Based 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,” he said.

Daystar says it will continue to operate as a standalone business and the company’s headquarters will remain in Lagos, Nigeria.

Daystar Power is a commercial and industrial (C&I) solar provider. The C&I model means that the client does not have to pay for equipment or deal with maintenance. Daystar Power has said in the past that their installations for industries can go above 10,000 volts.

Thereafter, Daystar installs transformers to step up the low voltage from solar plants to meet the power requirements for industrial activities.

Daystar Power already has industrial manufacturing clients such as the Nigerian Bottling Company (NBC), 7Up Nigeria, Seplat Energy, and UAC Foods Nigeria.

As of August 2022, some of the company’s installations include Four NBC factory installations across Nigeria, a 107kWp installation for a Seplat Energy factory in Delta State, and a 100kWp solar plant for the Brazilian embassy in Lagos.

A 600kWp solar plant at UAC Swan in Jos, Plateau State, an 18kWp solar unit at Siloam Hospital, Kumasi, Ghana, and a 997kWp solar farm for Atlantic Shrimpers Limited Badagry, Lagos.

Source: Nairametrics