Daystar Power, a West African 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.
The acquisition will allow Daystar to grow its operations in the region, while expanding across the African continent.
“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.”
Sub-Saharan Africa has abundant potential as a solar market, which is expected to grow due to the chronic energy gap.
Daystar Power aims 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.
Daystar Power will operate as a wholly owned subsidiary of Shell under its existing brand within Shell’s Renewables & Energy Solutions business. Daystar Power’s co-founders and management team will continue to grow its operations in key West African markets, while expanding the company’s presence to other countries across the continent.
About Daystar Power:
Daystar Power is one of the leading off-grid power service providers, offering hybrid power solutions to commercial and industrial businesses in West Africa. Daystar Power’s solutions “Solar-as-a-Service” (100% solar power) and “Power-as-a-Service” (hybrid power solutions) provide clean and reliable power while significantly reducing clients’ overall power costs.
Daystar Power’s clients pay a flat monthly fee or a variable tariff (per kilowatt hour) for premium power services, which include a power audit and assessment of energy needs, a bespoke proposal, installation, and full operation & maintenance. Clients do not incur any capital expenditure and do not pay up-front costs. By outsourcing the management of their power systems, Daystar Power clients can focus more on running their core businesses.
Founded in 2017, Daystar Power counts the region’s leading industrial and commercial companies among its client base and is active in West Africa.
Shell’s Renewables & Energy Solutions business is the driving force behind the development of Shell’s integrated power value chain, developing and deploying onshore and offshore wind, solar and batteries to not only produce power, but aggregate, trade and market it directly to customers, including in emerging markets. Shell’s strength as a developer has been built through more than 100 years of global energy market experience, 50 years of deep-water offshore experience and 20 years of onshore wind development, and through the acquisition of innovative renewable energy companies.