SolarAfrica And Starsight Energy Announces Merger Completion
SolarAfrica And Starsight Energy Announces Merger Completion. SolarAfrica Energy and Starsight Energy are pleased to announce the successful completion of their business merger. The merged group is now set to become the leading pan-African clean energy platform providing on- and off-site renewable energy solutions to commercial and industrial customers.
It is well-positioned to serve a wide range of customers with a comprehensive mix of costeffective solutions, providing power security and carbon reduction. The merger is backed by Helios Investment Partners (“Helios”) and African Infrastructure Investment Managers (“AIIM”), both of which have decades-long track records of bringing investment to support African innovation.
“The supply of renewable energy in Sub-Saharan Africa is relatively fragmented with several suppliers in the market. This merger is a substantial step for us and will provide a true panAfrican platform to deliver clean renewable energy in key economies,” said Paul van Zijl, Group CEO.
The merged group consists of an installed and contracted portfolio of 520 MW in solar power generation, 60 MWh of battery storage and an additional energy pipeline exceeding 2 GW. The portfolio has led to a carbon offset of more than 360 000 tonnes of CO2 to date. “This merger will enhance our current capabilities and allow us to deploy Energy and Cooling as a Service on a much larger scale. This is therefore a story of growth. Not only for Starsight Energy and SolarAfrica but also for the renewable energy landscape in Africa,” Van Zijl added.
In addition to key markets Ghana, Kenya, Namibia, Nigeria and South Africa, the group is working on imminent expansion into Tanzania and Uganda. It brings a range of renewable energy solutions to the table, with solar energy, battery storage and cooling at the top of the list. “We are excited about making a meaningful contribution to power supply on the continent through our on- and off-site solutions. This will help take pressure off national grids which have been under significant strain in many of the core African markets,” said Charl Alheit, Group Chief Investment Officer.
