A Lagos-based solar power company, Daystar Power has been 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.
Jasper Graf von Hardenberg, CEO, and Co-founder of Daystar Power while speaking about the acquisition said; “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.
“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.
The commercial and industrial (C&I) solar provider said the acquisition won’t stop its operations as a standalone business and that the company’s headquarters will remain in Lagos, Nigeria.
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.