Starsight Energy and SolarAfrica to join forces
Proposed merger between Starsight Energy and SolarAfrica to create one of the largest C&I solar developers on the African continent.
Renewable energy services provider, Starsight Energy, and South African-based solar firm, SolarAfrica Energy have merged, subject to regulatory approvals, combining our strengths to become a dominant solar player on the African continent, with a genuine pan-African footprint, providing competitive full-service renewable energy and energy efficiency solutions to the commercial and industrial sector.
The merger creates the first truly Pan-African renewable energy services provider, which is well positioned to serve a wide range of clients with a comprehensive mix of renewable energy solutions -providing power security, cost savings and carbon reduction. The merged entity will comprise a portfolio of over 220MW of operated and signed generation capacity, and 40MWh of battery storage, with an additional pipeline exceeding 1GW.
Starsight Energy has market-leading operations in East and West Africa with over 640 sites operational in Nigeria, Kenya and Ghana. Named one of Africa’s fastest growing companies in 2022 by the UK Financial Times, the company offers reliable and sustainable energy and cooling solutions – on- and off-grid – to the C&I sectors. Starsight is also the first renewable energy company in Nigeria to secure carbon credit accreditation from internationally renowned AREA.
SolarAfrica has built up extensive experience in delivering state-of-the-art energy solutions through Power Purchase Agreements (PPAs) to businesses across Southern Africa. Having evolved from a specialist provider of rooftop solar photovoltaic systems, to a full-service provider of Capex-free, green energy solutions ranging from solar and battery storage options through to wheeling and electricity trading to the C&I market.
KEY HIGHLIGHTS
- The merged group, subject to regulatory approvals, will be a pure-play C&I service provider, covering the full scope of C&I projects, from rooftop projects to large scale corporate PPA-backed projects
- It provides carbon reduction, power security and cost savings to blue-chip clients in a number of key economic sectors including banking, manufacturing and data storage
- It spans three key geographical hubs (Eastern, Southern and Western Africa) with further pan-African diversification being considered
- Solutions are technology-enabled via proprietary, inhouse developed software which covers development, construction to asset management
- The merged group, backed by Helios Investment Partners and AIIM, will comprise a portfolio of over 220MW of operated and signed generation capacity, with 40MWh of battery storage, and an additional pipeline exceeding 1GW
- Key credentials include Starsight being the first renewable energy company in Nigeria to secure carbon credit accreditation whilst SolarAfrica was named African Solar Company of the Year during 2021
IN PARTNERSHIP WITH
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