SolarAfrica Energy and Starsight Energy yesterday announced the completion of their merger as it becomes a pan-African clean energy platform providing on- and off-site renewable energy solutions to commercial and industrial customers.
The merged group consists of an installed and contracted portfolio of 520MW in solar power generation, 60MWh of battery storage and an additional energy pipeline exceeding 2GW. The portfolio has led to a carbon offset of more than 360 000 tons of CO₂ to date.
The merger is backed by Helios Investment Partners and African Infrastructure Investment Managers, 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 pan-African platform to deliver clean renewable energy in key economies,” said Paul van Zijl, group CEO.
“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 said.
In addition to key markets Ghana, Kenya, Namibia, Nigeria and South Africa, the group said it was working on imminent expansion into Tanzania and Uganda.
BUSINESS REPORT