Daystar Power to be Acquired by Shell

Source: www.gulfoilandgas.com 9/28/2022, Location: Africa

Daystar Power, a West African provider of hybrid solar power solutions to commercial and industrial (C&I) businesses, announced its acquisition by Shell. Shell will acquire Daystar Power, which is subject to regulatory approvals, to deliver carbon emission reductions and power cost savings to C&I businesses across Africa.

Daystar Power’s co-founders and management team will continue to grow its operations in its key West African markets, while expanding its presence to other African countries in East and Southern Africa. Daystar Power targets 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.

“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,” said Jasper Graf von Hardenberg, CEO and Co-founder of Daystar Power. “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.”

“This deal marks our first power acquisition in Africa and a fundamental step for Shell in growing our presence in emerging power markets. We have had a long and established presence in West Africa and with Daystar Power, we are taking our first steps into the renewable power space,” said Thomas Brostrøm, Shell’s Executive Vice-President, Renewable Generation. “As we do this, we’re helping to address a critical energy gap for many who currently rely on diesel generators for backup power. Daystar Power has a loyal customer base and a promising growth outlook, and by combining our efforts and expertise, I believe we can make a real difference in the energy transition, for West Africa and beyond.”

The acquisition will allow the West African commercial and industrial (C&I) solar provider to grow its operations in the region, while expanding across the African continent.


Australia >>  12/8/2022 - EnerMech has acquired Stork Australia and New Zealand for an undisclosed sum as part of its strategic plan to add scale to its global integrity manage...
India >>  12/8/2022 - Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire a majority stake in Sunsure Energy ("Sunsure" ...

Australia >>  12/7/2022 - Strike Energy has provided an update on its continuing and increased ownership of Warrego Energy and the West Erregulla gas field.

Strike h...

Australia >>  12/7/2022 - Squadron Energy (Squadron) today announced it has acquired CWP Renewables (CWP), in an agreement that takes Squadron’s renewable energy operating port...

Thailand >>  12/6/2022 - Valeura Energy has announced that Valeura Energy Asia (the 'SPV'), a special purpose vehicle and a subsidiary of the Company, has entered into a Sale ...
United Kingdom >>  12/6/2022 - International subsea equipment rental and solutions specialist Ashtead Technology has further expanded its mechanical solutions service offering with ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.