Shell completes acquisition of Nigerian solar firm Daystar Power
20 Dec 2022

Read the full original article here from Premium Times

First announced in late September, the deal, having scaled regulatory hurdles, is the latest phase of Shell’s march towards providing clean energy via carbon emissions reduction.

The renewable energy arm of London-based supermajor Shell has brought closure to the purchase of Daystar Power, a West African hybrid solar power solutions provider serving commercial and industrial businesses in a landmark deal marking the first of such acquisition in Africa.

First announced in late September, the deal, having scaled regulatory hurdles, is the latest phase of Shell’s march towards providing clean energy via carbon emissions reduction.

“We are thrilled about the completion of this major milestone,” said Jasper Graf von Hardenberg, CEO and Co-founder of Daystar Power in a Friday statement obtained by PREMIUM TIMES.

“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.”

Africa has 60 per cent of the world’s best solar resources, according to the International Energy Agency, but only has the capacity to generate 1 per cent.