Shell goes green in Africa, acquires Daystar Power
By FeliciaNwosu
Shell, leader in oil production in Africa, has gone green with its first power sector acquisition on the continent with the purchase of a Nigerian renewable energy provider, Daystar Power.
The acquisition is aimed at boosting its global renewable energy expansion on the African continent and the need to align with new realities and trends that will curb the menace caused by over dependence on fossil fuels.
According to the company, the deal for the acquisition of the hybrid solar power solutions received a positive nod after acquiring necessary regulatory approvals.
Thomas Brostrom, the Executive Vice-President for renewable generation, Shell, stated that the oil giant is undertaking this huge responsibility to tackle the challenge of a critical energy gap for many who currently rely on diesel generators for backup power. Jasper Graf von Hardenberg, Chief Executive of Daystar noted that it has plans to expand to eastern and Southern Africa, a goal he said would be easier to reach with Shell.
The newly acquired Daystar has its headquarters located in Lagos, provides off-grid power to commercial and industrial clients in Ghana, Nigeria, Senegal and Togo, offering solar and hybrid power solutions with battery storage.
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