Daystar Power, provider of hybrid solar power solutions, has announced a Series B investment of US$38 million to increase its footprint in various West African markets.
Founded in 2017 is an off-grid power service providing clean and reliable power. It has 23 megawatts of installed power capacity and to date has offset approximately 5,000 MT of CO2.
Following the series B investment of $38 million, Daystar Power will extend its operations in Nigeria and Ghana, whilst also furthering its impact in other regional countries; enhancing its digital offerings and expand its local teams. Currently, Daystar Power is active in Nigeria, Ghana, Togo, and Senegal.
The company is on target to increase it’s installed capacity to over 100 MW, meeting demand from its clients in the financial services, manufacturing and agricultural sectors.
CEO Jasper Graf von Hardenberg said, “By offering our commercial and industrial clients cheaper, reliable and cleaner power, we have seen a more than fifty-fold increase in power-as-a-service revenue over the last two years.…African businesses are realising that solar power is a superior energy alternative to the often-unreliable grid or too expensive, polluting diesel generators.”
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