(Agence Ecofin) – Recently, TotalEnergies Marketing Guinea and the public electricity company of Guinea (EDG) signed a memorandum of understanding to collaborate in the research and production of clean energies to meet the needs of the Guinean populations..
Daystar Power, a West African provider of hybrid solar power solutions for commercial and industrial businesses, announced on September 28 its acquisition by oil giant Shell.
This is Shell’s first renewable acquisition in Africa and remains subject to regulatory approvals. Daystar Power’s co-founders and management team will continue to grow the company’s business in its key West African markets, while expanding its presence to the east and south of the continent.
Thanks to Shell’s cash injection, Daystar aims to increase its installed capacity from the current 32 MW to 400 MW by 2025. In this regard, Mr. Jasper Graf von Hardenberg, CEO and co-founder of Daystar Power, said: “By being part of Shell, we will be able to execute our mission even faster to deliver carbon emissions reductions and electricity cost savings to businesses across Africa. »
On the Shell side, officials stressed the importance of this acquisition, which marks the company’s entry into the electricity market in Africa and demonstrates its new commitment to renewable energies.
« This transaction marks our first power acquisition in Africa and is a fundamental step for Shell in developing its presence in emerging power markets. We have a long established presence in West Africa and with Daystar Power we are taking our first steps into the renewable energy space.
The fact that an oil giant like Shell is investing in renewable assets in Africa is far from unprecedented. TotalEnergies, another oil giant, owns shares in Total Eren, an independent power producer that develops, builds and operates long-term renewable energy plants.
Abdullah Diop