Nigerian Commercial & Industrial (C&I) solar energy developer, Starsight Energy, is expanding into East Africa via the acquisition of a 50% stake in the East African operations of Premier Solar Group, the company announced on Wednesday.
The transaction will see the creation of Starsight Premier Energy Group which will offer sustainable power and cooling-as-a-service and battery storage solutions to C&I clients in Kenya, Uganda, Tanzania, and Rwanda.
“We are excited to be partnering with Premier Solar Group in East Africa. The newly formed company will deliver significant financial capacity to the region’s energy efficiency market and offer new and existing clients an unprecedented opportunity to scale their sustainable power, cooling, and storage systems,” says Starsight Energy CEO Tony Carr.
Premier Solar Solutions, the Kenyan subsidiary of Premier Solar Group, is already a leading player in the Kenyan C&I solar sector with five delivered projects totalling 2.7 MW, eight projects totalling 8.8 MW currently in execution, and a pipeline of a further 20 MW in Kenya. Furthermore, expansion into Uganda, Tanzania, and Rwanda is planned for 2021 and 2022.
Premier Solar Group CEO, Rupesh Hindocha, added, “we welcome the partnership with Starsight Energy in East Africa. We knew instantly that Starsight would be the right partner for us because of their reputation for exceptional customer service, innovation, and sustainability. We look forward to continuing to deliver the standard of service and efficiency that has come to define the Starsight Energy and Premier Solar Group brands.”
Starsight Energy & Premier Solar to combine expertise
With about 41 MW of installed generating capacity, 33 MWh of battery storage, and 16,320 HP in cooling capacity across 547 sites in Nigeria and Ghana, Startsight Energy is one West Africa’s leading C&I renewable energy players. Premier Solar Group brings international experience delivering end to end distributed solar PV solutions to C&I clients in East Africa, India, Sri Lanka, and the UAE.
“Starsight Premier Energy Group will combine Starsight’s industry-leading service and technology with Premier Solar Group’s established footprint in Kenya. We look forward to bringing our unparalleled service and 99.9% uptime guarantee to new C&I clients in the region,” Starsight Energy CEO Tony Carr, commented.
The new entity, Starsight Premier Energy Group, will offer clients technology-enabled power and cooling-as-a-service and battery storage solutions that significantly reduce energy costs and CO2 emissions while boosting customer profitability.
“Following our recent expansion into Ghana, this investment marks a significant step in Starsight Energy’s growth story as the pan-African power and cooling-as-a-service sector moves further toward consolidation. Starsight is actively seeking more partners in this space across the continent. We are grateful for the ongoing and expanded support from our equity investors, Helios Investment Partners and African Infrastructure Investment Managers,” Carr added.
Startsight Energy’s clientele includes banks, petrol station operators, schools, universities, and large commercial agricultural companies.
