Shell enters Africa’s power generation game
LAGOS, September 29, 2022 – Daystar Power has been acquired by Shell, marking the US super-major’s first move into Africa’s power generation sector, the Nigerian solar company announced on Wednesday.
The Lagos-based energy company provides off-grid solar power generation to commercial and industrial clients in Nigeria, Ghana, Senegal and Togo.
The company plans to expand its presence to more countries in East and Southern Africa and increase its installed capacity to 400 MW by 2025.
“We are on-track to increase our installed solar capacity by 135% in 2022,” said Jasper Graf von Hardenberg, CEO and co-founder of Daystar Power.
Cost of the deal was not disclosed.
The purchase is subject to regulatory approvals.