SolarAfrica, Starsight Energy complete merger deal - Becomes leading Pan-African renewable energy solutions provider
SolarAfrica Energy and Starsight Energy have announced the successful completion of their business merger.
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The move makes the group set to become the leading pan-African clean energy platform providing on- and off-site renewable energy solutions to commercial and industrial customers.
It also well positions it to serve a wide range of customers with a comprehensive mix of cost-effective solutions, providing power security and carbon reduction.
A release issued in Accra yesterday said; “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.
Customers across Africa can access fully serviced clean energy solutions through the merged group.
This includes solar energy, battery storage, wheeling and energy management which are all operated and maintained on behalf of the customer.”
The release said the mission of the merged group is to make power accessible and affordable adding that it will unlock more efficiencies across the group and allow it to take more customers on a green energy journey that solves their power requirements and enables a sustainable future.
“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 pan-African platform to deliver clean renewable energy in key economies,” the Group CEO, Paul van Zijl said in the release.
He said 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.
He also noted that 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,” Mr van Zijl added.
Powering Africa
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,” the Group Chief Investment Officer, Charl Alheit said.
